Ontario Mortgage Rates

We'll beat any competitor's offer

We really do have the best mortgage rates in Ontario.

During the COVID pandemic, Ontario's real estate markets have seen a continued lack of inventory and no shortage of buyers. For Greater Toronto, prices are accelerating, with rural areas and smaller communities jumping in to drive up market pressure, as people look to work remotely while paying less for a bigger home.

Whether you're a first-time home buyer, or looking to refinance or find a bigger home — getting the lowest rate possible through True North Mortgage can help save thousands over the life of your investment. Plus, our flexible mortgage options can be tailored to find the right solution for your situation.

Did you know? Our rates are lower.

Our True North Mortgage brokers are committed to getting the lowest rates possible for you in Ontario. But, our lowest advertised rates sometimes have conditions and are only right for specific clients. Along with the stress-test, regulations have changed the way rates work, and now your rate will depend on your downpayment percentage compared to the overall mortgage size, your credit score and even your purchase timeline. This rate situation doesn't just impact rates on our site, but across all low rates you see advertised on the internet.

Our mortgage specialists can help you understand what your exact rate will be, with no obligation. Our large volume approach gives us an edge on rates and access to a wide selection of lenders — in some cases, even with your bank! In fact, a few minutes with us can save you thousands on your home, income property or vacation investment.

Visit us, call or apply online today for your best mortgage solution.

The sooner you contact us, the sooner we can hold your rate.

Ontario rates are at risk of rising — we can hold your rate for up to 120 days (depending on the lender). Plus, we can offer you flexible mortgage solutions that fit your needs, all while providing exceptional, unified service.

Get Pre-Approved now

Ontario’s most trusted Mortgage Brokers

True North Mortgage has two stores in downtown Toronto, and one in North York, but we can complete your mortgage anywhere in Ontario, or Canada, over the phone.

More Ontario mortgage rates

Toronto Mortgage Rates

Historical Mortgage Rates

For Ontario - Last Updated Aug. 05 2021

5 Year Fixed Rate

2.09% - 2.39%

  2021 (average)

1.72%

2.20%

  May

1.79%

2.39%

  April

1.89%

2.29%

  March

1.89%

2.29%

  February

1.62%

2.06%

  January

1.43%

1.99%

  2020 (average)

2.02%

2.43%

  December

1.49%

1.99%

  November

1.59%

1.99%

  October

1.62%

2.04%

  September

1.77%

2.05%

  August

1.82%

2.22%

  July

1.89%

2.39%

  June

1.99%

2.42%

  May

2.23%

2.65%

  April

2.43%

2.88%

  March

2.35%

2.68%

  February

2.48%

2.86%

  January

2.54%

3.02%

  2019 (average)

2.77%

3.09%

  December

2.58%

2.93%

  November

2.40%

2.92%

  October

2.52%

2.94%

  September

2.45%

2.85%

  August

2.49%

2.79%

  July

2.57%

2.84%

  June

2.66%

2.90%

  May

2.84%

3.09%

  April

2.92%

3.19%

  March

3.15%

3.37%

  February

3.32%

3.59%

  January

3.30%

3.69%

  2018 (average)

3.15%

3.56%

  December

3.39%

3.80%

  November

3.42%

3.71%

  October

3.22%

3.60%

  September

3.19%

3.54%

  August

3.19%

3.54%

  July

3.14%

3.55%

  June

3.14%

3.55%

  May

3.14%

3.55%

  April

3.02%

3.52%

  March

3.02%

3.52%

  February

3.02%

3.48%

  January

2.92%

3.34%

  2017 (average)

2.54%

2.86%

  December

2.87%

3.19%

  November

2.71%

3.16%

  October

2.84%

3.22%

  September

2.76%

3.16%

  August

2.59%

2.99%

  July

2.56%

2.78%

  June

2.39%

2.49%

  May

2.24%

2.54%

  April

2.30%

2.62%

  March

2.39%

2.72%

  February

2.39%

2.72%

  January

2.44%

2.74%

  2016 (average)

2.30%

2.58%

  December

2.42%

2.69%

  November

2.20%

2.47%

  October

2.11%

2.39%

  September

2.14%

2.49%

  August

2.28%

2.58%

  July

2.28%

2.58%

  June

2.28%

2.58%

  May

2.34%

2.59%

  April

2.34%

2.59%

  March

2.34%

2.69%

  February

2.39%

2.69%

  January

2.49%

2.69%

  2015 (average)

2.46%

2.67%

  December

2.46%

2.69%

  November

2.46%

2.69%

  October

2.35%

2.59%

  September

2.39%

2.59%

  August

2.39%

2.59%

  July

2.39%

2.59%

  June

2.44%

2.59%

  May

2.44%

2.59%

  April

2.44%

2.69%

  March

2.52%

2.69%

  February

2.64%

2.84%

  January

2.64%

2.84%

  2014 (average)

2.84%

3.03%

  December

2.69%

2.89%

  November

2.69%

2.89%

  October

2.69%

2.94%

  September

2.74%

2.99%

  August

2.74%

2.99%

  July

2.74%

2.99%

  June

2.82%

2.99%

  May

2.86%

2.99%

  April

2.89%

2.99%

  March

2.95%

3.11%

  February

3.07%

3.29%

  January

3.22%

3.29%

5 Year Variable Rate

1.09% - 1.55%

  2021 (average)

1.24%

1.65%

  May

1.19%

1.55%

  April

1.24%

1.65%

  March

1.24%

1.65%

  February

1.24%

1.65%

  January

1.29%

1.75%

  2020 (average)

1.91%

2.24%

  December

1.38%

1.79%

  November

1.55%

1.80%

  October

1.55%

1.90%

  September

1.63%

1.88%

  August

1.67%

2.00%

  July

1.79%

2.04%

  June

1.79%

2.04%

  May

1.96%

2.23%

  April

2.01%

2.41%

  March

2.24%

2.64%

  February

2.70%

3.10%

  January

2.70%

3.10%

  2019 (average)

2.70%

3.20%

  December

2.70%

3.10%

  November

2.70%

3.10%

  October

2.70%

3.10%

  September

2.70%

3.10%

  August

2.70%

3.10%

  July

2.70%

3.10%

  June

2.70%

3.10%

  May

2.70%

3.20%

  April

2.75%

3.20%

  March

2.75%

3.40%

  February

2.70%

3.45%

  January

2.65%

3.45%

  2018 (average)

2.34%

2.89%

  December

2.65%

3.35%

  November

2.65%

3.25%

  October

2.48%

3.02%

  September

2.40%

2.80%

  August

2.40%

2.80%

  July

2.40%

2.80%

  June

2.15%

2.60%

  May

2.19%

2.55%

  April

2.21%

2.85%

  March

2.21%

2.85%

  February

2.21%

2.85%

  January

2.17%

2.94%

  2017 (average)

1.90%

2.46%

  December

1.98%

2.75%

  November

1.98%

2.75%

  October

2.05%

2.75%

  September

2.15%

2.67%

  August

1.90%

2.50%

  July

1.95%

2.50%

  June

1.75%

2.25%

  May

1.75%

2.25%

  April

1.78%

2.25%

  March

1.80%

2.30%

  February

1.80%

2.30%

  January

1.90%

2.30%

  2016 (average)

2.02%

2.30%

  December

1.90%

2.30%

  November

1.90%

2.30%

  October

1.90%

2.30%

  September

1.95%

2.30%

  August

1.95%

2.30%

  July

1.95%

2.30%

  June

2.05%

2.30%

  May

2.10%

2.30%

  April

2.10%

2.30%

  March

2.10%

2.30%

  February

2.15%

2.30%

  January

2.15%

2.30%

  2015 (average)

1.97%

2.19%

  December

2.10%

2.20%

  November

2.02%

2.16%

  October

1.90%

2.05%

  September

1.90%

2.05%

  August

1.85%

2.05%

  July

1.92%

2.25%

  June

2.05%

2.25%

  May

1.98%

2.25%

  April

1.98%

2.25%

  March

1.98%

2.25%

  February

1.98%

2.25%

  January

2.00%

2.30%

  2014 (average)

2.29%

2.48%

  December

2.20%

2.35%

  November

2.20%

2.35%

  October

2.24%

2.50%

  September

2.24%

2.50%

  August

2.24%

2.50%

  July

2.27%

2.50%

  June

2.33%

2.50%

  May

2.32%

2.50%

  April

2.32%

2.50%

  March

2.35%

2.50%

  February

2.35%

2.50%

  January

2.40%

2.50%

Ontario Mortgage Rates

Mortgage Rates are different across Canada. Rates are shown based on your location. If you're planning to purchase out-of-province, be sure to choose rates where the property will be located.

Canada Wide Mortgages

True North Mortgage can efficiently complete your mortgage anywhere you are in Canada — online, over the phone or at our store locations.