Ontario Mortgage Rates

In Ontario, your best mortgage rates can save you a lot of cash.

At True North Mortgage, our lower mortgage rates save our clients over $3,000 on average — sometimes up to $15,000 or more, depending on your details.

Our salaried, highly trained True North Mortgage brokers do huge volume, and we pass along a rate discount to lower your rate, sometimes with your own bank. Our rates are proven to be 0.18% lower on average compared to the big banks and other competitors, and have been for years.

It makes sense to ask what we can do for your rate.

Whether you're a first-time home buyer, interested in a vacation or investment property, or looking to refinance or renew — we have exceptional brokers who service your area and can access the lenders and products you need for your best rate and mortgage to save thousands.

Are your mortgage needs more complex? If you don't quite fit the big-bank mold, we also have the flexibility to offer you short-term mortgage solutions that save you time and stress.

Along with the federal stress test, your rate will depend on your down payment percentage compared to the overall mortgage size, your credit score and even your purchase timeline. We can help answer all your questions and outline the details so you can make clearer decisions.

Talk to us. Save your money. We're here for you — visit us, call or apply online today.

Rates are changing, hold yours now.

Ontario rates are always on the move — we can hold your rate for up to 120 days (depending on the lender). That goes for a new home purchase, renewal or refinance, and you'll get great advice while you think about your next (mortgage) move.

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Want to see more Ontario mortgage rates?

Toronto Mortgage Rates
Ottawa Mortgage Rates
Barrie Mortgage Rates
London Mortgage Rates

The key to getting your best rate? Our expert brokers.

Highly trained, with access to thousands of mortgage products for your best fit, our expert brokers are real people who understand how important it is to get your mortgage done right, on time, and at your lowest rate. Think your mortgage details are complicated? We'll make the whole process simple and stress-free — right from the start.

Get exceptional 5-star service today from a broker who knows the (mortgage) deal — and a savings relationship to come back to when you need it.

Apply online, call us, or visit one of our stores. Need a broker in your preferred language? Or a Mobile Broker who can come to you? Check out our directory below.

Ontario's housing market cools — affordability still a challenge.

Ontario's housing market continued its downward trend in January 2026, with home sales declining 11.7% year over year and about 27% below the 10-year monthly average. The centres of Barrie, the Greater Toronto Area (GTA), and Hamilton led the provincial slowdown. Meanwhile, Kitchener-Waterloo, St. Catharines and Ottawa were the only markets to post gains in home sales. 

The average ON home price dropped 6.1% year over year to $807,604, as most centres recorded price declines, led by St. Catharines. On the gain side, Kingston and Sudbury saw price increases of 5.7% and 3.5%, respectively.

The province's inventory gauge stands at 5.2 months' supply, well above the 10-year average of 3.1 months. However, new listings decreased in most Ontario centres compared to last year, with only Sudbury and Windsor showing increases.

The province overall still ranks as a buyer's market, with the SNLR (sales-to-listings ratio) at 36%; Barrie, the GTA, Windsor, and St. Catharines have the lowest ratios. However, a majority of centres show a balanced market, and Sudbury remains a strong seller's market.

Ontario continues to weather the U.S. tariff storm, with household financial uncertainty seeping into market conditions across the province.

Read more:
Housing Stats
Housing Market Forecast (2026-2029)
Rate Forecast (2026-2030)