Best Rates in Ontario

Updated: July 2, 2026. Compare top lenders in Ontario to find your perfect match.

Local Market
Get My Rate
Data Driven Algorithmic Integrity

We deploy rigorous data analysis to index and score the market. Our recommendations are derived from raw data, ensuring zero bias from advertiser influence.

You Are The Priority

We strive to be the smartest financial friend you have. Our goal is to save you money, not upsell you junk.

How We Stay Free

Ads pay the bills, but our Math runs the show. See our "No-Nonsense" Disclosure

FULL TRANSPARENCY

Platform Integrity & Transparency Standards

A comprehensive overview of our business model, data ethics, and commitment to unbiased service.

The Reality Check

RateBuddy is free for you to use, but it does cost money to run. To cover our expenses, we earn revenue through advertisements and sponsorship placements. This means our partners often compensate us when you click a link or apply for a product through our site. Importantly, this does not change our product ratings, rankings, reviews, or opinions. We strive to show you the most options possible so you can make informed decisions.

Our Total Loyalty Commitment

Our obligation to you supersedes any business relationship. This applies to everything we do—from the code that sorts rates to the advice in our guides. If a product has excessive fees, we expose them. If a service is outdated, we flag it. We are built to be your advocate, ensuring you always have the full, unvarnished picture.

We Can't Cover Everything

While we strive to scan the entire market, the financial world is massive. We might not list every single credit union or local bank in existence. However, we work tirelessly to present the most competitive offers available in Canada.

Our Editorial Independence

Our opinions are our own. If a card has a terrible fee, we’ll tell you. If a bank has a glitchy app, we’ll warn you. Our loyalty is to your wallet, because if you don't trust us, you won't come back. And we really want you to come back.

Current Mortgage Rates in Ontario

Live as of: July 2, 2026 | Ontario

Customize your mortgage scenario

Adjust the purchase price, down payment, amortization, and payment frequency to see how your estimated mortgage payments change across the rate options below.

$
$
%
Yrs
Reset
Tip: Use the filter to compare payment impact quickly. Even a small rate difference can change your estimated payment and total interest over time.
Marathon Mortgage
3.60%
Interest Rate
5 Years • Variable
5-years Variable Closed High Ratio
Payment & Interest Estimate
Est. Monthly Payment $1,442
Interest in 5 years $47,994
Inquire
Nesto
3.60%
Interest Rate
3 Years • Variable
3 Year Variable Mortgage
Payment & Interest Estimate
Est. Monthly Payment $1,442
Interest in 5 years $47,994
Interest over 3 Years $29,632
Inquire
Commission-free mortgage experts providing honest advice and competitive rates through a 100% d... Show more
Marathon Mortgage
3.64%
Interest Rate
6 Months • Fixed
6-Month Fixed Closed
Payment & Interest Estimate
Est. Monthly Payment $1,448
Interest in 5 years $48,544
Interest over 6 Months $5,160
Inquire
Nesto
3.65%
Interest Rate
5 Years • Variable
5 Year Variable Mortgage
Payment & Interest Estimate
Est. Monthly Payment $1,450
Interest in 5 years $48,681
Inquire
Commission-free mortgage experts providing honest advice and competitive rates through a 100% d... Show more
RBC Royal Bank
Ratings
Google: 5
Trustpilot: 4
RateBuddy: 3
3.65%
Interest Rate
5 Years • Variable
5 Year Variable Closed
Payment & Interest Estimate
Est. Monthly Payment $1,450
Interest in 5 years $48,681
Inquire
Eligible mortgages may qualify for up to $5,900 in promotional value. Offer ends June 30, 2026.
Updating rates...
Less
Page 2 of 2
More
Financial Toolkit

Crunch the Numbers

Make smarter decisions with our suite of free Canadian financial calculators.

Mortgage

Payment Calculator

Estimate monthly payments based on rate and term.

Start Calculating
Mortgage

Affordability

Calculate the maximum home price you can afford.

Start Calculating
Buying

Land Transfer Tax

Calculate provincial taxes and first-time rebates.

Start Calculating
Investing

Compound Interest

Visualize how your investments grow over time.

Start Calculating
Investing

TFSA Calculator

Project your tax-free savings growth potential.

Start Calculating
Debt

Debt Consolidation

See how much you save by combining debts.

Start Calculating
Debt

Payoff Planner

Model strategies to become debt-free faster.

Start Calculating
Planning

Budget Planner

Track income and allocate funds to your goals.

Start Calculating
View All Calculators
Market Dynamics

Understanding Rates in Ontario

Mortgage rates in Ontario are driven by two main forces: Bond Yields (Fixed) and Central Bank Policy (Variable).

Variable: Floating
Fixed: Bond Driven

Bank of Canada Impact

Variable rates in Ontario are directly linked to the Prime Rate. If the economy slows, rates often drop to stimulate growth—saving you money immediately.

The "Spread" Strategy

Smart borrowers in Ontario watch the gap between Fixed and Variable. When fixed rates dip lower than variable, it is often a signal to lock in stability.

Hidden Costs of Buying in Ontario

Beyond the mortgage rate, ensure you budget for these closing items.

Land Transfer Tax

Ontario charges a provincial tax based on the property value. First-time buyers may get a rebate.

Legal Fees

Expect to pay between $800 and $1,500 for a lawyer in Ontario to handle the title transfer and mortgage registration.

Appraisal

Lenders in Ontario may require a professional appraisal ($300-$500) to confirm the home's value matches the loan.

Ontario Mortgage Hack

Maximize Your Pre-Payment Privileges

Did you know? Most lenders in Ontario allow you to pay down 10-20% of your mortgage annually without penalty.

Reduce Interest Costs
Shorten Amortization
Build Equity Faster
Calculate Savings

Best Rates by Province

Compare regional lending criteria and exclusive local offers.

View Interactive Map
AB
Alberta
BC
British Columbia
ON
Ontario
QC
Quebec
NS
Nova Scotia
SK
Saskatchewan
All Locations View Full Map

Ontario Mortgage Insights

Expert answers to common questions from borrowers in your area.

Yes, and you often should. Signing the first slip your bank sends is rarely the best deal. Switching at renewal is usually free of legal costs.

B-Lenders cater to clients with bruised credit or unverifiable income. Rates are higher, but they offer a pathway to homeownership when banks say no.

You should budget between 1.5% and 4% of the purchase price. This covers legal fees, land transfer taxes (if applicable in Ontario), and adjustments.

It allows you to extend your term early and blend your old rate with the new market rate. It avoids an immediate penalty but might not be the lowest mathematical cost.

No. You can buy a home with as little as 5% down for the first $500k of the purchase price. However, anything under 20% requires Mortgage Default Insurance (CMHC).

If you are in a Fixed term, you are locked in. If you are in a Variable term, your rate (or payment) will decrease automatically when the Prime rate falls.