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Rising prices make it more important than ever for homebuyers in Orangeville, Canada to find the best mortgage rates on the market. Fortunately, LowestRates.ca makes comparing mortgage rates in Orangeville easy.
Rather than browsing multiple websites to learn about rates, LowestRates.ca provides all the essential information you need in one place, saving you time and money. We make the mortgage process more efficient, so you can lock in the cheapest mortgage rates in Orangeville without the legwork.
LowestRates.ca also offers the insights you need to help you choose the right mortgage. On this page, we’ll break down everything you need to know about the types of home loans available, and you’ll learn what factors lenders consider when setting your home mortgage rates in Orangeville.
When you’re ready, LowestRates.ca allows you to compare current mortgage rates in Orangeville from 50+ banks and brokers across Canada. Just tell us whether you’re buying a home, renewing or refinancing and click the “Get Started” button above.
Check out today's best mortgage rates in Canada by type and term.
| 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 4.69% | 80% LTV 4.19% | 65% LTV 4.19% | Uninsured 5.59% | 5.49% | ||
Insured 4.04% | 80% LTV 3.89% | 65% LTV 3.89% | Uninsured 4.54% | 4.79% | ||
Insured 3.87% | 80% LTV 3.99% | 65% LTV 3.99% | Uninsured 4.24% | 4.29% | ||
Insured 3.99% | 80% LTV 3.99% | 65% LTV 3.99% | Uninsured 4.44% | 4.39% | ||
Insured 3.91% | 80% LTV 3.89% | 65% LTV 3.89% | Uninsured 3.91% | 4.09% | ||
Insured 4.39% | 80% LTV 4.24% | 65% LTV 4.24% | Uninsured 5.19% | 5% | ||
Insured 5.04% | 80% LTV 4.34% | 65% LTV 4.34% | Uninsured 5.29% | 6.09% | ||
Insured 4.15% | 80% LTV 4.3% | 65% LTV 4.3% | Uninsured 4.4% | 6.35% | ||
Insured 3.95% | 80% LTV 3.95% | 65% LTV 3.95% | Uninsured 4.05% | 4.25% | ||
Insured N/A | 80% LTV N/A | 65% LTV N/A | Uninsured N/A | N/A | ||
Insured 5.25% | 80% LTV 5.25% | 65% LTV 5.25% | Uninsured 5.25% | N/A |
4.04%
3.89%
7.24%
Your down payment size will determine whether your mortgage is considered conventional or high-ratio. This is one factor that can impact your Orangeville mortgage rates.
Conventional mortgages: With this type of mortgage, you make a down payment worth at least 20% of the home’s purchase price. Your home loan will cover the remainder of the amount you need to buy the home, representing 80% or less of the home’s value. Your down payment size will determine whether your mortgage is considered conventional or high-ratio. This is one factor that can impact your Orangeville mortgage rates.
High-ratio mortgages: If your down payment is less than 20% of the purchase price, you’ll need a high-ratio mortgage. This means you will finance more than 80% of the cost of your home. With a high-ratio mortgage, you’re required to buy mortgage default insurance, available from the Canada Mortgage and Housing Corporation (CMHC), Canada Guaranty and Sagen.
Regardless of the type of home loan you choose, using LowestRates.ca can help you secure the lowest mortgage interest rates in Orangeville. At the top of this page, simply enter a few details about the type of mortgage you’re looking for. You’ll be able to compare mortgage rates from banks and brokers across Canada, making it easy to find the best rates on the market for the type of mortgage you need.
| Date | Average Conventional Rate | Average High Ratio Rate |
|---|---|---|
| 07/24 | 5.08% | 4.99% |
| 08/24 | 5.22% | 5.08% |
| 09/24 | 5.16% | 4.96% |
| 10/24 | 4.89% | 4.63% |
| 11/24 | 4.79% | 4.52% |
| 12/24 | 4.77% | 4.55% |
| 01/25 | 4.78% | 4.60% |
| 02/25 | 4.82% | 4.61% |
| 03/25 | 4.71% | 4.49% |
| 04/25 | 4.71% | 4.51% |
| 05/25 | 4.78% | 4.64% |
| 06/25 | 4.71% | 4.58% |
Last Updated: July 1, 2025
Before you do a mortgage rates comparison in Orangeville on LowestRates.ca, you’ll need to choose between fixed-rate and variable mortgage products.
Fixed-rate mortgages: This type of mortgage locks in your interest rate for the duration of the mortgage contract. Fixed mortgage rates in Orangeville, like the rest of Canada, are often slightly higher than variable rates. Despite that, most homebuyers prefer this type of mortgage because of the predictability it offers. However the market might change during your mortgage term, your rate will remain steady. Your fixed rate insulates you from swings in the market that could increase as well as decrease your mortgage rate.
Variable-rate mortgages: This type of mortgage ties your interest rate to market trends, through a formula provided in your mortgage contract. Variable mortgage rates in Orangeville, like variable rates across Canada, tend to be lower than fixed rates. But most homebuyers don’t like the uncertainty and risk that comes with variable rates. If interest rates in the broader economy go up during your mortgage term, it can take you longer to pay off your home loan and you can end up paying more in interest. That said, there’s a chance of reward, too. If interest rates in the overall economy go down during your mortgage term, homebuyers with variable-rate mortgages can reap savings.
To sum up, the lower Orangeville mortgage interest rates you can get with a variable-rate mortgage are basically a tradeoff your lender offers in exchange for taking on more risk. With a fixed-rate mortgage, you may get slightly higher rates but you also get more protection from market swings.
| Month | Fixed | Variable |
|---|---|---|
| 07/24 | 4.94% | 6.15% |
| 08/24 | 5.02% | 6.13% |
| 09/24 | 5.03% | 6.14% |
| 10/24 | 4.80% | 5.74% |
| 11/24 | 4.71% | 5.43% |
| 12/24 | 4.80% | 5.33% |
| 01/25 | 4.84% | 5.17% |
| 02/25 | 4.75% | 4.92% |
| 03/25 | 4.64% | 4.78% |
| 04/25 | 4.64% | 4.76% |
| 05/25 | 4.76% | 4.89% |
| 06/25 | 4.71% | 4.83% |
Last Updated: July 1, 2025
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.
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:
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The average price of a home in Orangeville is $756,479, according to September 2021 sales information from the Canadian Real Estate Association. To calculate your mortgage size in Orangeville using the average sale price, we’ll assume a down payment amount of 20%, or $151,296. This would leave you with a principal balance on your mortgage of $605,183. To find the total cost of your mortgage, you’ll need to add estimated interest payments based on your mortgage interest rate.
If your down payment on your Orangeville home will be less than 20% of your home’s purchase price, buying CMHC mortgage default insurance is mandatory. You will need to add these insurance premiums to the principal and interest payments to calculate the full size of your mortgage.
Orangeville homebuyers spent $756,479 on average in September 2021, according to sales data from the Canadian Real Estate Association (CREA). This represented an increase of 15.4% over home prices during the same period last year, following a trend of rising prices across Ontario and nationwide.
Ontario is known for its expensive housing market, with homes costing an average of $887,290 in September 2021 according to CREA, marking a year-over-year increase of 19.7% from September 2020. By comparison with provincial averages, Orangeville’s market is more affordable and prices have been rising more slowly.
Both Orangeville and Ontario have home prices higher than the national average of $686,656 for September 2021, according to CREA. Average home prices across Canada rose 13.9% from September sales in 2020 to 2021.
Overall, the Orangeville market reflects relatively high and rising home prices compared to the national average, but prices and price increases are both modest compared to the rest of Ontario.
To seal the deal on your Orangeville home purchase, you’ll need to budget for your down payment as well as closing costs and land transfer tax.
Closing costs include expenses related to finalizing the sale of the property. The specific items can vary, but they typically add up to about 1.5% to 4% of your home’s purchase price. Here’s what may be included in closing costs:
Toronto is unique in that it charges home buyers a municipal land transfer tax on top of the Ontario provincial land transfer tax. Ontario’s land transfer tax is based on the value of your property. Here’s how the provincial land transfer tax is calculated:
Land transfer taxes are another element of closing costs for many homebuyers. The Town of Orangeville doesn’t charge this tax, but Ontario does. Here are the provincial land transfer tax rates that apply to Orangeville homebuyers:
If you’re a first-time homebuyer, Ontario offers a special tax rebate that reduces the amount of the land transfer tax you have to pay. For more information about land transfer taxes and to calculate how much you’ll owe on your Orangeville home, use LowestRates.ca’s land transfer tax calculator.
Both of these terms refer to periods of time during your home loan repayment.
Mortgage term: This is the time period when you’re committed to working with a specific lender. The length of the mortgage term is set in your mortgage contract. In Canada, the most common mortgage term is five years, but lenders offer other options ranging from six months to 10 years in length. When your mortgage term is up, you will need to renew your mortgage with the same lender or you can select a different one. This process repeats until your mortgage is paid in full.
Amortization period: The amortization period is an estimate of the length of time it will take you to repay your entire mortgage loan. In Canada, the typical amortization period is 25 years. This is the maximum period allowed by the Canada Mortgage and Housing Corporation if you need to purchase CMHC mortgage default insurance, a requirement for buyers making a down payment below 20% of their home’s purchase price.
Mortgages are classified as open or closed depending on how much flexibility they offer in the timeline for repayment.
Open mortgages: These mortgage products have generous built-in prepayment privileges, meaning you won’t be penalized for repaying your loan faster than the scheduled monthly minimum payments. This is the best kind of mortgage product for people who plan to sell or refinance before the end of their mortgage term, or those who want to make significant accelerated payments on their mortgages.
Closed mortgages: These mortgage products include limits on how rapidly you can repay your loan. Typically, they include penalty fees for paying off your mortgage early or making extra payments. In exchange for sticking to a regular repayment schedule, lenders usually offer lower mortgage rates on closed mortgages. Since most Canadian homebuyers don’t plan to pay off their mortgages ahead of schedule, this is the most popular mortgage type. It’s worth noting that many lenders do offer a bit of flexibility with their closed mortgage products, allowing limited accelerated payments without penalty if you follow certain guidelines explained in your mortgage contract. Make sure you find out what’s included in your contract before you finalize your home purchase if you’re interested in making any accelerated payments on your mortgage.
Located about 80 kilometres northwest of Toronto, Orangeville is the seat of Dufferin County and its commercial centre. Orangeville hosts several manufacturers, and many residents commute to Toronto and other parts of southwestern Ontario to work. Your cost of living in Orangeville will depend on some individual aspects of your lifestyle, like whether you have dependents, drive your own car or use public transit, and whether you’re a homeowner or renter.
The average price of a home in Orangeville is $756,479, according to Canadian Real Estate Association sales figures from September 2021. This is higher than Canada’s national average home price for the same time period ($686,656), but Orangeville’s market is relatively affordable for Ontario, where average home prices in this pricey market were $887,290 in September 2021.
Orangeville’s public bus system offers three routes to help people without their own vehicles get around. However, many residents find having a car makes life in Orangeville easier, especially if they’re commuting to the Greater Toronto Area (GTA) for work. Having a personal vehicle means paying for gas, maintenance and car insurance, and Ontario auto coverage is among the most expensive in Canada. The province is second in car insurance costs only to British Columbia, and the average annual premium is $1,505 per year according to the Insurance Bureau of Canada. The good news is that Orangeville drivers typically pay lower auto insurance premiums compared to Ontarians in the more congested GTA.
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:
Prepayment privileges: These are terms included in some mortgage contracts that permit you to make payments beyond the monthly minimums without getting hit with penalty fees. Prepayment privileges can help you save on interest over the course of your home loan by letting you repay your mortgage faster. Open mortgages come with built-in prepayment privileges, allowing faster repayment, but they typically have higher mortgage rates than closed mortgages.
Penalties: If, for whatever reason, you need to break your mortgage, you may be required to pay thousands of dollars in penalties. While you may wind up with a better rate if you choose to go with a different lender, it’s important to look at the fine print to ensure that it won’t cost you more than you’ll gain.
Penalties: All mortgages come with some penalty fees that apply if you break certain rules. Most mortgage contracts include penalties for selling, refinancing or paying off your mortgage before the mortgage term is complete.
Portability: With a portable mortgage, you can transfer your loan to a new home without penalty. This is a great option for homebuyers who plan to move before their mortgage term is up. A new mortgage is usually then added to your old one to cover the difference in purchase price.
LowestRates.ca works with 50+ banks and brokers to bring you competitive mortgage rates from lenders in 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 Orangeville mortgage rates. 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.
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.
We have a strong selection of lenders on LowestRates.ca including the big banks and many independent providers and we’re adding more lenders all the time. 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.
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