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| Insured ? | 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 ? | Bank Rate ? | ||
|---|---|---|---|---|---|---|
Insured 4.64% | 80% LTV 4.19% | 65% LTV 4.19% | Uninsured 4.99% | 4.99% | ||
Insured 3.99% | 80% LTV 3.89% | 65% LTV 3.89% | Uninsured 4.44% | 4.53% | ||
Insured 3.69% | 80% LTV 3.79% | 65% LTV 3.79% | Uninsured 3.9% | 4.39% | ||
Insured 3.84% | 80% LTV 3.99% | 65% LTV 3.99% | Uninsured 4.39% | 4.44% | ||
Insured 3.69% | 80% LTV 3.55% | 65% LTV 3.55% | Uninsured 3.69% | 4.19% | ||
Insured 4.19% | 80% LTV 4.24% | 65% LTV 4.24% | Uninsured 4.89% | 5% | ||
Insured 5.04% | 80% LTV 4.34% | 65% LTV 4.34% | Uninsured 5.24% | 6.09% | ||
Insured 3.9% | 80% LTV 3.95% | 65% LTV 3.9% | Uninsured 3.9% | 5.95% | ||
Insured 3.45% | 80% LTV 3.45% | 65% LTV 3.45% | Uninsured 3.5% | 4.24% | ||
Insured N/A | 80% LTV N/A | 65% LTV N/A | Uninsured N/A | N/A | ||
Insured 5.45% | 80% LTV 5.45% | 65% LTV 5.45% | Uninsured 5.5% | N/A |
There are three main drivers behind mortgage rates in Orangeville and Canada at large:
The Bank of Canada influences mortgage rates through its policy rate. The Bank’s objective is to keep inflation in the target range of 1% to 3% and preserve the value of the Canadian dollar. It achieves this by setting the target overnight rate, also known as the policy rate.
As of today, the policy rate is 2.25%. 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.
The higher the inflation, particularly if it’s above 3%, the higher the likelihood of a rate hike. Though inflation does not directly affect mortgage rates, the Bank tends to raise rates to cool down economic activity and force homebuyers to retreat from the market. It’s worth noting that government bond yields, which influence fixed rates, are affected by inflation as well, in addition to factors like oil prices, geopolitical tensions and broader economic conditions (which currently remain uncertain).
Banks, credit unions, monoline lenders and other financial institutions compete to attract borrowers across Orangeville and beyond. During competitive market conditions, lenders may offer better rates. Shopping around and comparing multiple lenders — including local Ontario credit unions like Meridian Credit Union — can often result in a better mortgage rate.
Mortgage companies in Orangeville and across Canada ask for detailed information about your finances as part of the mortgage application process. They use this to evaluate how likely you are to make timely repayments on your mortgage.
Here are the main factors lenders use to set your mortgage rates:
1. Down payment
Making a minimum 20% down payment on your new home is one way to earn lower rates on your Orangeville mortgage loan. Lenders view down payments below 20% of the home’s value as a mark of riskier borrowers, so they tend to offer higher rates if your down payment doesn’t meet that threshold. Beyond lower mortgage rates, there’s another advantage to making a minimum down payment of 20% on your home purchase — you won’t have to buy mortgage default insurance.
2. Employment and income
Your employment status is an indicator of whether or not you’ll be able to come up with the funds to pay your mortgage. To secure a mortgage loan in Toronto, you’ll have to prove that you have the financial stability to make payments ongoingly. Lenders will look at whether you’re employed full time, part time, temporarily, seasonally or on contract. A lender will want to know your total income from all sources (a salaried job, investments or rental income) to make sure that the size of your mortgage will be manageable.
3. Income
Lenders naturally ask for information about your income to get a sense of how you will repay your mortgage. Homebuyers with long-term, permanent employment are usually seen as lower-risk borrowers than those with seasonal or part-time jobs. Your mortgage application will ask whether you receive regular paycheques from an employer, as well as any other income from investments or rental property.
For the self-employed, you will likely be asked for extra documents that demonstrate your business’s operations and finances. These could include tax records from the last three years, your most recent Notice of Assessment from the Canada Revenue Agency showing you are current with HST and GST obligations, your business’s articles of incorporation, bank statements and more.
4. Credit score
This is another factor that can impact your house mortgage rates in Orangeville, because it tells lenders how you’ve used credit in the past. If you have a history of on-time repayments and don’t always max out your available credit lines, your credit score will be higher, reflecting that you’re a well-qualified borrower. Credit scores range from 300 to 900. Major lenders in Canada typically require a credit score of at least 600 to approve you for a mortgage.
The Canada Mortgage and Housing Corporation (CMHC), sets a minimum credit score of 600 to qualify for mortgage default insurance, which is mandatory if your down payment is less than 20% of your home’s purchase price.
5. Debt service ratios
Here are the two main kinds of debt service ratios:
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How do these mortgage types differ? Conventional (low-ratio) mortgage requires a down payment of 20% or more, with no mandatory insurance, while a high-ratio mortgage requires a down payment of below 20%, plus mandatory insurance.
Which mortgage type offers cheaper rates? As of September 2026, the average conventional 5-year fixed rate is 4.49%. That’s 40 bps above the average high-ratio 5-year fixed rate, which stands at 4.09%.
| Date | Average Conventional Rate | Average High Ratio Rate |
|---|---|---|
| 09/25 | 4.50% | 4.42% |
| 10/25 | 4.46% | 4.36% |
| 11/25 | 4.35% | 4.31% |
| 12/25 | 4.44% | 4.32% |
| 01/26 | 4.49% | 4.49% |
| 02/26 | 4.47% | 4.43% |
| 03/26 | 4.27% | 4.20% |
| 04/26 | 4.24% | 4.23% |
| 05/26 | 4.38% | 4.22% |
| 06/26 | 4.48% | 4.24% |
| 07/26 | 4.47% | 4.14% |
| 08/26 | 4.49% | 4.09% |
Last Updated: September 1, 2026
How do these mortgage rates differ? A fixed rate mortgage is a rate 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 rate is cheaper? As of September, the 5-year fixed rate is 4.30%. That’s 41 bps abow the 5-year variable rate, which stands at 3.89%.
| Month | Fixed | Variable |
|---|---|---|
| 09/25 | 4.60% | 4.64% |
| 10/25 | 4.62% | 4.51% |
| 11/25 | 4.64% | 4.40% |
| 12/25 | 4.64% | 4.41% |
| 01/26 | 4.71% | 4.44% |
| 02/26 | 4.64% | 4.43% |
| 03/26 | 4.33% | 4.38% |
| 04/26 | 4.38% | 4.06% |
| 05/26 | 4.41% | 4.05% |
| 06/26 | 4.45% | 4.01% |
| 07/26 | 4.34% | 3.93% |
| 08/26 | 4.30% | 3.89% |
Last Updated: September 1, 2026
New mortgage loan values have been trending upward throughout 2025, reaching the average of $441,394 in Ontario and $360,597 in Canada by the end of Q4 2025.
Here are all the average new mortgages loan values in Ontario from 2022 to 2025:
| Q1 – 2022 | Q2 – 2022 | Q3 – 2022 | Q4 – 2022 | Q1 – 2023 | Q2 – 2023 | Q3 – 2023 | Q4 – 2023 | Q1 – 2024 | Q2 – 2024 | Q3 – 2024 | Q4 – 2024 | Q1 – 2025 | Q2 – 2025 | Q3 – 2025 | Q4 – 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Canada | $368,936 | $371,063 | $363,654 | $325,612 | $320,298 | $314,540 | $338,522 | $327,899 | $323,537 | $332,825 | $349,364 | $343,271 | $356,831 | $350,281 | $360,986 | $360,597 |
| Ontario | $466,931 | $475,987 | $462,701 | $418,808 | $406,427 | $405,753 | $434,005 | $426,021 | $421,795 | $427,078 | $440,052 | $432,237 | $441,074 | $438,188 | $445,693 | $441,394 |
Scheduled monthly payments have been trending downward throughout 2025, reaching the average of $2,402 in Ontario by the end of Q4 2025. This is well below the peaks experienced in Q4 2023, when average scheduled monthly payments reached $2,770 in Ontario.
| Q1 – 2022 | Q2 – 2022 | Q3 – 2022 | Q4 – 2022 | Q1 – 2023 | Q2 – 2023 | Q3 – 2023 | Q4 – 2023 | Q1 – 2024 | Q2 – 2024 | Q3 – 2024 | Q4 – 2024 | Q1 – 2025 | Q2 – 2025 | Q3 – 2025 | Q4 – 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| $1,966 | $2,153 | $2,392 | $2,449 | $2,494 | $2,444 | $2,634 | $2,770 | $2,751 | $2,646 | $2,664 | $2,524 | $2,526 | $2,452 | $2,472 | $2,402 |
Closing costs are the one-time fees buyers pay upon purchasing property in Orangeville. Generally, closing costs include:
Land transfer tax calculations for a $500,000 property in Orangeville without a rebate are:
Both of these terms refer to periods of time during your home loan repayment.
Mortgages are classified as open or closed depending on how much flexibility they offer in the timeline for repayment.
If you want to save on your Orangeville mortgage, getting the lowest interest rates is important, but it’s not the only factor to consider. Here are a few other items that can influence the total cost of your mortgage:
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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.
Taras Trofimov
About the Author
Taras is the Content Manager for LowestRates.ca. He has produced thought leadership content for organizations like Constellation Software, Facebook and Yellow Pages as well as outlets like The Globe and Mail, Autoblog and MSN Autos.
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