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6.00%

5-Year Variable

4.84%

5-Year Fixed

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Today's lowest mortgage rates in: Ontario

Check out today's best mortgage rates in Canada by type and term.

Rates are based on an average mortgage of $300,000
 Insured ?

The rates in this column apply to borrowers who have purchased mortgage default insurance. This is required when you purchase a home with less than a 20% down payment. The home must be owner-occupied and the amortization must be 25 years or less.

80% LTV ?

The rates in this column apply to mortgage amounts between 65.01% and 80% of the property value. The home must be owner-occupied and have an amortization of 25 years or less. You must have purchased it for less than $1 million. These rates are not available on refinances. Refinances require "Uninsured" rates.

65% LTV ?

The rates in this column apply to mortgage amounts that are 65% of the property value or less. The home must be owner-occupied and have an amortization of 25 years or less. You must have purchased it for less than $1 million. These rates are not available on refinances. Refinances require "Uninsured" rates.

Uninsured ?

The rates in this column apply to purchases over $1 million, refinances and amortizations over 25 years. More info on the differences between insured and uninsured rates.

Bank Rate ?

Bank Rate is the mortgage interest rate posted by the big banks in Canada.

 
1-year fixed rate
Insured
4.99%
80% LTV
4.99%
65% LTV
4.99%
Uninsured
6.59%
6.79%
 
2-year fixed rate
Insured
5.84%
80% LTV
5.49%
65% LTV
5.49%
Uninsured
5.94%
6.39%
 
3-year fixed rate
Insured
4.99%
80% LTV
4.94%
65% LTV
4.94%
Uninsured
5.09%
5.85%
 
4-year fixed rate
Insured
4.99%
80% LTV
5.04%
65% LTV
5.04%
Uninsured
5.09%
5.59%
 
5-year fixed rate
Insured
4.74%
80% LTV
5.04%
65% LTV
5.04%
Uninsured
5.04%
5.14%
 
7-year fixed rate
Insured
4.99%
80% LTV
5.29%
65% LTV
5.29%
Uninsured
5.24%
5.9%
 
10-year fixed rate
Insured
5.69%
80% LTV
5.89%
65% LTV
5.89%
Uninsured
5.89%
7.25%
 
3-year variable rate
Insured
6.1%
80% LTV
6.55%
65% LTV
6.55%
Uninsured
N/A
8.6%
 
5-year variable rate
Insured
5.9%
80% LTV
6.1%
65% LTV
6.1%
Uninsured
6.25%
6.59%
 
HELOC rate
Insured
7.2%
80% LTV
7.2%
65% LTV
7.2%
Uninsured
7.2%
N/A
 
Stress test
Insured
6.74%
80% LTV
6.94%
65% LTV
6.94%
Uninsured
5.25%
N/A

How mortgage rates are determined in Ontario and what influences them.

Mortgage rates in Ontario are determined much like they are in the rest of Canada.

The prime rate is the target lending rate that banks use to set interest rates for variable loans, lines of credit and mortgages. Each bank sets its own prime rate. Because of stiff competition among the banks,  getting the best Ontario mortgage rates is not too difficult, given that most banks follow each other if one of them lowers or raises its rates by a point or two.

The prime rates used by the individual banks are generally set based on the Bank of Canada overnight target rate. The central bank uses the target rate to influence how the banks set their own rates and acts as a barometer for the rate at which banks borrow and lend among themselves.

What influences mortgage rates in Ontario?

Ontario is Canada’s largest province, with a diverse population of nearly 15 million people. However, the population is aging quickly, and Ontarians are moving into retirement faster than new workers are replacing them, making immigration vital to the province's economy. Immigration remains relatively high at 198,530 immigrants entering Ontario in 2021. This all contributes to an enormous demand for housing. 

Monetary policy also plays a major role in determining mortgage rates. As inflation has crept into our daily budgets, current mortgage rates in Ontario have also been on the rise. Inflation does not directly affect mortgage rates but as the Bank of Canada raises rates to cool down economic activity, homebuyers may retreat from the market.

As a result, there is greater competition among lenders in Ontario as Ontarians seek better rates. For example, credit unions and private lenders, which make up about 3.7% of the country's mortgage business, handle about 6.7% of the province’s mortgages. High demand from homebuyers is fueling competition between lenders in the province.

Mortgage default insurance

Mortgage default insurance is a form of protection for the lender, not the buyer. The government of Canada requires mortgage default insurance to be paid by the borrower if they put less than 20% down on a home.

Default mortgage insurance is only available for homes priced under $1 million. To acquire it, you must meet the bank’s eligibility requirements as well as the underwriting standards of your mortgage insurer.

Factors that affect your Ontario mortgage rate

Mortgage rates, as mentioned, are set by the lending institutions, which in turn are influenced by the Bank of Canada's overnight target rate. However, other factors can affect your Ontario mortgage rate.

The amount you need to borrow

According to the Canadian Real Estate Association, the average price for a house in Ontario was $940,845 as of May 2022. In Ontario, you will need at least a 5% down payment for purchases between $500,000 and $1 million and 10% for the remaining amount.

Whether you choose a fixed or variable rate

The ongoing debate about taking out a fixed or variable mortgage will certainly affect your rate. Variable rates lock in your payment, but your interest rates fluctuate with the rate changes in the market. Fixed rates allow both principal and interest payments to remain constant and provide peace of mind for the borrower.

Your debt service ratios

Lenders will need to calculate your Gross Debt Service (GDS) Ratio. GDS is the percentage of your monthly income that covers your housing costs; it must not exceed 39%. Total Debt Service (TDS) is the percentage of your monthly household income that covers your housing costs and any other debts; it must not exceed 44%.

The formulas to find your debt service ratios, according to the CMHC, are as follows:

Gross debt service formula:

(Principal + interest + taxes + heat)/Gross annual income

Total debt service ratio formula:

(Principal + interest + taxes + heat + other debt obligations)/Gross annual income

Of course, increasing the downpayment as high as 20% would eliminate the CMHC insurance, and monthly payments would decrease.

Lump sum payments

Another factor that affects your mortgage rate is lump sum payments. The faster you pay down your mortgage, the more you save on interest rate charges. It also shortens the length of time required to pay off your debt.

A lump sum payment is a one-time payment you make towards your mortgage outside your regular payment schedule. Some banks may allow payments of up to 15% of your original borrowed amount per year without triggering a prepayment charge. For example, if you have a mortgage of $400,000, you can make a lump sum payment of $60,000 per year on top of your other payments. This can be done at once or spread out over the course of the year.

Credit score

Also, your credit score can affect your rate positively or negatively, depending on your history. A good credit rating shows the lender you’re a “good risk” and will likely pay back the loan, leading to a better interest rate than someone with a lower credit score. In 2020, the Canada Mortgage and Housing Corporation increased the minimum credit score requirement on insured mortgages from 600 to 680.

Property usage

What if you are buying an income property and you don’t plan to live there? That will most certainly affect your interest rate, which tends to be higher as lenders perceive this as a riskier loan.

If you are self-employed and work from home, mortgage rates can be higher but aren’t always. Building up capital and the viability of your business will also play a role in finding the best mortgage rates in Ontario.

Variable Rates

As low as

6.00%

Fixed Rates

As low as

4.84%

Cha-ching! Our rates are always lower than the posted bank rates.

Current lowest posted bank rate

7.49%

The main differences between conventional and high-ratio mortgages

Let’s start with the basics. A conventional mortgage is a mortgage loan of up to 80% of the value of the property you are buying. A high-ratio mortgage is a mortgage loan higher than 80% of the property’s value.

Which is cheaper?

Here’s the trick. People who are stretched financially and considered high-risk by lenders take out high-ratio mortgages. Since they’re high-risk, they’re required to buy default insurance. Since there is insurance, banks can exhale a bit, and the rates tend to be lower than conventional mortgages with no insurance backstop.

Conventional 5-year fixed mortgage rates vs. high ratio 5-year fixed mortgage rates in Ontario

DateAverage Conventional RateAverage High Ratio Rate
02/23 5.10%4.68%
03/23 5.04%4.78%
04/23 4.79%4.44%
05/23 4.86%4.52%
06/23 5.24%4.92%
07/23 5.54%5.14%
08/23 6.22%5.42%
09/23 6.00%5.61%
10/23 6.14%5.87%
11/23 6.15%5.77%
12/23 5.92%5.56%
01/24 5.66%5.29%

Last Updated: February 1, 2024

The main differences between fixed rate and variable rate mortgages

Among the myriad decisions consumers must make when taking the leap into home ownership, selecting the type of mortgage they choose is at the top of the list. Should you get a fixed or variable mortgage?

A fixed rate mortgage is just that – fixed over a period of time. Interest rates and the mortgage payments remain the same (and consistent) over that mortgage term.

A variable rate mortgage is different. While the mortgage payment remains constant, the interest rate payments fluctuate with the prime interest rate.

Which is cheaper?

The debate continues. Many mortgage rates in Ontario are fixed, mostly because budgeting is easier with a fixed amount and term. However, variable rates can be cheaper but do fluctuate as prime rates move. Until recently, this has made them consistently cheaper than fixed rates but as interest rates continue to climb, so does the increase in payments of a variable rate mortgage.

5-year fixed vs. 5-year variable mortgage rates in Ontario

MonthFixedVariable
02/23 4.84%5.90%
03/23 4.87%5.85%
04/23 4.64%5.83%
05/23 4.65%5.88%
06/23 5.02%6.12%
07/23 5.31%6.36%
08/23 5.59%6.50%
09/23 5.71%6.54%
10/23 5.91%6.52%
11/23 5.85%6.51%
12/23 5.65%6.44%
01/24 5.46%6.35%

Last Updated: February 1, 2024

Average value of new mortgage loans in Canada

Mortgage rates across Canada have been trending upward since the third quarter of 2022. Inflation has been a troubling economic trend, and the Bank of Canada has raised the key interest rate to curb its effects.

Unfortunately for homeowners (current and prospective), interest rates on mortgages have risen for variable and fixed-rate mortgages. The trend line for Bank of Canada interest rate decisions is nearly a straight line upward from January 2022 to the third quarter of 2023, where it sits at an overnight rate of 5% — the highest in 22 years.

Rising interest rates have meant that people are opting for smaller mortgages. The average value of new mortgage loans in Canada dropped by nearly 11.2% to an average rate of $320,298, suggesting that people can't afford as much or are simply staying out of the housing market. In Ontario, the province with the most active real estate market, the average value of new mortgage loans stood at $448,031 in the first three months of 2022 but now sits at $406,421 — a decline of about 10.2%.

Mortgage amounts are declining elsewhere in the country. In B.C., for example, the start of 2022 saw average mortgage amounts at $484,941. But by the same period in 2023, the average amount dropped to $429,370 – a decline of nearly 13%. Alberta had the most muted decline: only 3% year-over-year, from $319,728 to $310,027.

The average 2021 value of mortgages in each province, include:

 Q1 - 2021Q2 - 2022Q3 - 2021Q4 - 2021
Canada
Q1 - 2021
$335,462
Q2 - 2022
$351,862
Q3 - 2021
$371,584
Q4 - 2021
$358,717
Newfoundland
Q1 - 2021
$192,209
Q2 - 2022
$205,542
Q3 - 2021
$221,894
Q4 - 2021
$210,102
Prince Edward Island
Q1 - 2021
$208,668
Q2 - 2022
$228,022
Q3 - 2021
$235,879
Q4 - 2021
$251,763
Nova Scotia
Q1 - 2021
$213,713
Q2 - 2022
$230,658
Q3 - 2021
$249,364
Q4 - 2021
$242,142
New Brunswick
Q1 - 2021
$159,046
Q2 - 2022
$171,990
Q3 - 2021
$184,680
Q4 - 2021
$180,573
Quebec
Q1 - 2021
$217,104
Q2 - 2022
$219,591
Q3 - 2021
$234,322
Q4 - 2021
$219,237
Ontario
Q1 - 2021
$403,739
Q2 - 2022
$438,719
Q3 - 2021
$464,17
Q4 - 2021
$453,716
Manitoba
Q1 - 2021
$230,460
Q2 - 2022
$238,272
Q3 - 2021
$257,619
Q4 - 2021
$252,711
Saskatchewan
Q1 - 2021
$233,411
Q2 - 2022
$250,880
Q3 - 2021
$262,544
Q4 - 2021
$258,396
Alberta
Q1 - 2021
$305,642
Q2 - 2022
$323,493
Q3 - 2021
$337,087
Q4 - 2021
$326,527
British Columbia
Q1 - 2021
$454,970
Q2 - 2022
$481,507
Q3 - 2021
$501,357
Q4 - 2021
$487,539

The size of the mortgage matters

The amount of money you borrow for your mortgage will have an effect on future costs. Why? Processing a mortgage comes with costs lenders money, meaning fees are prevalent even at low mortgage amounts. For example, it can cost as much as $1,000 to process, underwrite and fund a home loan.

Let’s say a lender charges a 0.5% fee, also known as an origination fee. On a larger mortgage of $400,000, that fee comes to $2,000. On a low mortgage amount, say $40,000, that fee would equal $200. If processing fees are $1,000, the lender would lose money and therefore have to raise the fee on “low loan amounts” to not only cover expenses but make a small profit

Large loan amounts have a risk factor attached to them. Lenders stand to lose more if they lend out large amounts to borrowers who can’t pay their debts. As a result, some lenders often have stricter underwriting guidelines that require a larger downpayment and higher credit score to secure the loan.

 

Average scheduled monthly payments for new mortgage loans in Ontario 

Due to interest rate hikes, average payments have risen steadily from $1,897 in the first quarter of 2022 to $2,494 in the first quarter of 2023. It amounts to an increase of nearly 31.5%.

Q1 – 2022Q2 – 2022Q3 – 2022Q4 – 2022Q1 – 2023
$1,897$2,099$2,392$2,449$2,494

Source: Canada Mortgage Housing Corporation

Ontario mortgage performance

An important economic indicator is the mortgage delinquency rate. It refers to the percentage of past due loans from the total number of loans within a financial institution's portfolio.

Why does this metric matter? It shows whether consumers can pay down loans they've taken out. Delinquency rates on student loans, auto loans, and credit cards measure an economy's health and help determine at which stage of the economic cycle we find ourselves (expansion, peak, contraction, and trough). However, delinquencies are considered a lagging indicator; that’s because consumers usually have enough savings where they can make payments for up to a year.

Mortgage delinquencies are low, according to the Canadian Mortgage Housing Corporation, but inching upwards: from 0.07% in the first quarter of 2022 to 0.09% in the first quarter of 2023.

The possibility that delinquencies might rise to a more significant degree still exists. Even in this climate of rising interest rates, consumers are spending the cash they amassed during COVID-19 shutdowns and accumulating debt, according to Statistics Canada. The data might not reflect the true state of people’s finances until 2024 figures are available.

Month Ended March 31, 2022

LocationTotal # of MortgagesNumber of Mortgages in Arrears% of Arrears to Total Number of Mortgages
Atlantic
Total # of Mortgages
352,816
Number of Mortgages in Arrears
878
% of Arrears to Total Number of Mortgages
0.25%
Quebec
Total # of Mortgages
956,447
Number of Mortgages in Arrears
1,133
% of Arrears to Total Number of Mortgages
0.12%
Ontario
Total # of Mortgages
2,159,122
Number of Mortgages in Arrears
1,240
% of Arrears to Total Number of Mortgages
0.06%
Manitoba
Total # of Mortgages
124,795
Number of Mortgages in Arrears
352
Private Lenders
0.28%
Saskatchewan
Total # of Mortgages
132,782
Number of Mortgages in Arrears
820
Private Lenders
0.62%
Alberta
Total # of Mortgages
601,155
Number of Mortgages in Arrears
2,620
Private Lenders
0.44%
B.C.
Total # of Mortgages
711,354
Number of Mortgages in Arrears
777
Private Lenders
0.11%
Territories
Total # of Mortgages
10,674
Number of Mortgages in Arrears
 
Private Lenders
 
Canada
Total # of Mortgages
5,049,145
Number of Mortgages in Arrears
7,820
Private Lenders
0.15%

The latest data from the Canadian Bankers Association shows a mortgage arrears rate in Canada of 0.15% as of March 2022. In Ontario, that number is 0.06%. With rising rates, those numbers may increase over time.

Current Ontario housing market and home prices

In Ontario, the Canadian Realtors Association (CREA) reported that 18,635 homes were sold in June 2023, an increase of 11.8% from June 2022's sales numbers. However, home sales were 12.3% below the five-year average and 17% below the 10-year average for June.

The average price of resale residential homes sold in Ontario in June 2023 was $910,102, an increase of 3.1% from June 2022. The national average price was much higher at 6.7% year-over-year, or $709,218, in June 2023.

There were 36,583 new residential listings in June 2023, which is a drop of 9.1% from June 2022.

In the short term, it appears higher mortgage rates have depressed housing sales somewhat. However, a chronic lack of inventory is still keeping homeownership out of reach for many. These competing forces led to a cooler housing market in mid-2023. The cool-off could continue, especially if the Bank of Canada makes further increases to the overnight rate, which by July 2023 sat at 5%.

The Canadian Mortgage Housing Corporation (CMHC) predicts that prices and sales will start to rise again once the target inflation rate of 2% is achieved. Mortgage rates will become more affordable after this, the CMHC forecasts, which will spur housing demand and supply.

Ontario closing costs

Closing costs are the one-time fees buyers pay upon purchasing property in Ontario. Generally, closing costs include:

Typically, closing costs can range from 1.5% to 4% of the home’s purchase price. For example, for a home in Toronto that costs $1.352 million, you can expect fees to range from $49,000 to $52,000.

Non-residents (non-citizens or non-permanent residents) who purchase a home in Ontario can expect an additional tax burden to the price they are paying. In Ontario, that tax – the Non-Resident Speculation Tax (NRST) has recently been raised to 20% on top of the property’s value.

Exemptions are made for nominees – those that are nominated under the Ontario Immigrant Nominee Program, protected persons – those with refugee status, and spouses – foreign nationals purchasing a property with a spouse.

Also, rebates for the NRST are available to foreign nationals who become permanent residents of Canada, international students, and foreign nationals who work in Ontario.

 

What is the First-Time Home Buyers Tax Credit?

Buying a home at any stage of life is a monumental decision. For first-time homebuyers, the stress and costs of the transaction are made easier by Canada’s First Time Home Buyers’ Tax Credit.

The program allows for a $5,000 non-refundable tax credit. This can lead to a $750 tax rebate on your first home.

The home must be a qualified home (single-family, semi-detached, townhome, mobile home or condo), an existing or new construction home in Canada. You must have moved into the home within one year of buying it, and the home must be listed as your principal residence.

Your questions about Ontario mortgages, answered.

How can I qualify for a mortgage in Ontario?

It’s important to have a good credit score. Canada Mortgage and Housing Corporation says the credit score requirement on insured mortgages should be 680.

Other factors you should have in order can include:

  • Paying down debt – This can do a few things. Paying debt frees up resources to put toward your downpayment or mortgage. It also indicates to lenders that you are a “good risk” and have the ability (and desire) to pay loans in a responsible manner.

  • Calculating assets and liabilities – If knowledge is power, then understanding your economic situation will help you obtain the mortgage you need. By having a complete picture of assets and liabilities, you will be better prepared to provide the information lenders require to decide on your mortgage application. This can be done with an accountant, if you have one, or on your own.

  • Having a consistent employment history – Lenders want to see elements of your financial life that reduce risk. Being employed consistently indicates your ability to be financially responsible. This will be an important factor in indicating to lenders that you can pay your debts with little to no risk of default.

  • Having a large downpayment – The more you save towards the purchase of a house, the better you will be in the long run in terms of debt burdens. However, lenders also see this as a lower-risk proposition. The less you need to borrow, the quicker they can get their money back if you default on the loan. Monthly costs are reduced for you, and you look more attractive to lenders who are all about reducing their own risk.

  • Having enough income – Most important is proving you can carry the mortgage, usually calculated by your broker or mortgage agent using a debt service ratio analysis.

Should I use a mortgage broker in Ontario?

Unlike a bank, a mortgage broker can only offer mortgages from their line of products. They can access many lenders and help you choose the right product for your circumstance. More good news is that mortgage brokers are free to use and are paid by the lender while also having access to a variety of lender interest rates.

What’s the difference between a mortgage term and an amortization period?

A mortgage term is the length of time the mortgage agreement at your agreed interest rate is in effect. An amortization period is simply the length of time it takes for you to repay your loan.

What’s the difference between an open mortgage vs. a closed mortgage? Which one should I get?

An open mortgage allows you to pay back the loan in full at any time. A closed mortgage allows limited lump-sum prepayments and includes penalties if you pay the loan ahead of schedule.

Which one to choose is a matter of preference. A close mortgage will generally have lower interest rates because of the limitations placed on the payment. But you may want to lift the burden of mortgage payments if, at some time, you feel you will be able to pay it back in full.

How much does it cost to live in Ontario?

With great diversity, a large population and abundant work opportunities, Ontario is a popular and, therefore, expensive place to live. Average costs will vary from city to city. According to the LowestRates.ca Cost of Living Report, renters living in Toronto will pay on average $2,076.99 for housing. For homeowners, that cost goes up to $5,417.12 (includes mortgage payment, home insurance and property tax)

How much does getting a lower mortgage interest rate matter in Ontario?

Ontario is one of the most expensive provinces to live in Canada (B.C. also ranks high). Most of the population of Ontario lives in and around the Greater Toronto Area (GTA), which has the most expensive real estate due to its proximity to Toronto. To work, live and afford a home in Ontario, especially in more populated areas, a lower mortgage rate will benefit you.

Ontario real estate is near the top of the list in terms of cost and has the highest average mortgage amount compared to the rest of Canada. Because of this, getting the lowest rate is of even more importance.

Ontario’s real estate market is expensive, reflecting some of the highest average mortgage amounts in the country. The crucial first step to securing the best rate is to compare what’s available. Our quote tool will help you do so in less than three minutes. You could end up saving thousands of dollars.

What is a mortgage rate hold?

A mortgage rate hold or rate lock allows buyers a guaranteed interest rate on their mortgage for a set period (usually 30 to 60 days but up to a maximum of 120 days). It is usually used when a buyer knows they will be purchasing or refinancing their home in the near future.

What are prepayment options?

Prepayment options allow you to repay your mortgage sooner than the original payment schedule. There are two ways to do this – increase your mortgage payments or pay a lump sum.

Is it safe to get a mortgage online?

Applying for a mortgage online can be as safe and effective as doing it in person. In fact, online mortgage vendors often have more attractive rates due to the competitive nature of the business. It is wise, however, to be wary of the risk of fraud, online scams and illegal business practices when applying online. The Financial Services Regulatory Authority of Ontario has more information about how to distinguish who is — and who is not — a reputable mortgage lender.

How do I know I’m getting the lowest rate?

A few factors will determine if you can get the lowest rate, including your credit score, employment record, and downpayment. Having that data and comparison shopping on sites like LowestRates.ca will ensure you are getting the lowest rates available.

Why will the best mortgage rate in Ontario be different than mortgage rates available in other parts of Canada?

The best Ontario mortgage rates are generally the lowest in Canada mainly due to competition among lenders. Ontario has the largest population of the Canadian provinces, estimated by the provincial government to be 14,915.3 million. Ontario received 48.3% of all immigrants to Canada in the first quarter, a total of 66,691 people. As a result, more people are seeking housing in Ontario than anywhere else in the country.

With Canada expected to welcome many thousands of immigrants in the years ahead, demand for mortgages is likely to increase as well. Most of that demand occurs in urban centres where immigrants tend to reside. Demand also increases housing prices but may make mortgage lenders compete for the same group of new customers.

Your questions about LowestRates.ca, answered.

How are mortgage rates determined on LowestRates.ca?

LowestRates.ca works with 50+ banks and brokers to bring you competitive rates from banks and mortgage brokers in Ontario and across Canada. We work with our partners to obtain their best deals and offers, and then we let them compete for your business. All you have to do is answer a few questions, and in minutes you’ll be provided with today’s mortgage interest rates for Ontario. There’s no obligation, but you can choose to speak with our broker partner to secure your best rate and see if you're eligible for more savings.

Is it safe to get a mortgage online?

Yes, it’s safe — you no longer need to visit a bank branch or mortgage broker’s office in person to apply for a mortgage. It’s becoming increasingly common for Canadians to apply for mortgages online. LowestRates.ca only works with reputable, trustworthy financial institutions. Your credit score won’t be affected, and your information is secure. We don’t share your information with anyone unless you want to connect with a mortgage broker. We take care of the heavy lifting by comparing the market for you and can connect you with the best mortgage lenders in the country.

How do I know I’m getting the lowest rate?

We have a strong selection of lenders on LowestRates.ca, including the big banks and many independent providers. This ensures we’re always delivering you a competitive rate. Even if you’re not ready to commit to anything, you can use our site as a starting point for research (it’s totally free, and you’re under no obligation).

The better informed you are, the more likely you'll negotiate a better deal for yourself. And, really, that’s what we care about the most.

LowestRates.ca Staff

LowestRates.ca Staff

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The LowestRates.ca writing team focuses on telling original stories.

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*Based on the difference between estimated deep-discount 5-year fixed rates from Canada's top six banks and the lowest comparable rates on LowestRates.ca, as of January 14, 2022.