Ottawa Mortgage Rates

Best Mortgage Rates in Ottawa

Compare the best mortgage rates in Ottawa for June 2025. Find daily updated fixed & variable rates from top banks, credit unions, and brokers to save on your home.

Rates are current as of Ottawa, Ontario
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Mortgage rate information for Ottawa, Ontario

Welcome to Ottawa, where the stability of the nation's capital meets a booming tech sector, creating one of Canada's most reliable real estate markets. As of June 2025, Ottawa is presenting a more balanced market, offering a unique window of opportunity for savvy homebuyers who are ready to act. With more inventory available than in recent years, finding the right home is more possible than ever.

Securing the best mortgage rate is the critical first step to capitalizing on these conditions. Whether you're a first-time buyer looking at condos in Centretown, a growing family eyeing a home in Barrhaven or Kanata, or a public servant relocating to the capital, the competitive rates on this page will help you make a smart financial decision.

Current Mortgage Rates in Ottawa

Live as of: August 17, 2026 | Ottawa, 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.

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Yrs
Tip: Use the filter to compare payment impact quickly. Even a small rate difference can change your estimated payment and total interest over time.
We guarantee your best rate or we will give you $500! Save thousands with our volume-discounted rates.
True North Mortgage Inc
Interest rate
2.49 %
6 Months Fixed
6-Month Fixed Closed
Payment & interest estimate
Est. Monthly Payment $1,792
Interest in 5 years $46,119
Interest over 6 Months $4,950
Rate Guarantee: We guarantee your rate is in the best 1% of all rates in Canada. Find a lower rate and we will beat it or pay you $500 cash.
Butler Mortgage
Interest rate
3.30 %
5 Years Variable
5 Year Variable Mortgage
Payment & interest estimate
Est. Monthly Payment $1,960
Interest in 5 years $61,583
Commission-free mortgage experts providing honest advice and competitive rates through a 100% digital, transparent process.
Nesto
Interest rate
3.40 %
5 Years Variable
5 Year Variable Mortgage
Payment & interest estimate
Est. Monthly Payment $1,981
Interest in 5 years $63,506
We guarantee your best rate or we will give you $500! Save thousands with our volume-discounted rates.
True North Mortgage Inc
Interest rate
3.49 %
5 Years Variable
5-Year Variable Closed
Payment & interest estimate
Est. Monthly Payment $2,000
Interest in 5 years $65,239
nesto provides you with the best available locking period in the mortgage industry (150 Days).
Nesto
Interest rate
3.57 %
5 Years Variable
5 Year Variable Mortgage (150 Day Lock)
Payment & interest estimate
Est. Monthly Payment $2,018
Interest in 5 years $66,781
Secure your rate for up to 120 days. Take advantage of generous 20/20 prepayment privileges and the flexibility to skip a payment once a year.
Meridian Credit Union
Interest rate
3.59 %
5 Years Variable
5 Year Variable Mortgage
Payment & interest estimate
Est. Monthly Payment $2,022
Interest in 5 years $67,167
Equitable Bank offers flexible mortgage solutions with competitive rates, designed to help you achieve your homeownership goals.
EQ Bank
Interest rate
3.60 %
5 Years Variable
5 Year Adjustable Mortgage - Evolution Suite
Payment & interest estimate
Est. Monthly Payment $2,024
Interest in 5 years $67,359
Marathon Mortgage
Interest rate
3.60 %
5 Years Variable
5-years Variable Closed High Ratio
Payment & interest estimate
Est. Monthly Payment $2,024
Interest in 5 years $67,359
Commission-free mortgage experts providing honest advice and competitive rates through a 100% digital, transparent process.
Nesto
Interest rate
3.60 %
3 Years Variable
3 Year Variable Mortgage
Payment & interest estimate
Est. Monthly Payment $2,024
Interest in 5 years $67,359
Interest over 3 Years $41,588
Marathon Mortgage
Interest rate
3.64 %
6 Months Fixed
6-Month Fixed Closed
Payment & interest estimate
Est. Monthly Payment $2,033
Interest in 5 years $68,132
Interest over 6 Months $7,243
Commission-free mortgage experts providing honest advice and competitive rates through a 100% digital, transparent process.
Nesto
Interest rate
3.65 %
5 Years Variable
5 Year Variable Mortgage
Payment & interest estimate
Est. Monthly Payment $2,035
Interest in 5 years $68,325
Eligible mortgages may qualify for up to $5,900 in promotional value. Offer ends June 30, 2026.
RBC Royal Bank
Ratings
Google
Trustpilot
RateBuddy
Interest rate
3.65 %
5 Years Variable
5 Year Variable Closed
Payment & interest estimate
Est. Monthly Payment $2,035
Interest in 5 years $68,325
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How these rates are selected

Ottawa rates are based on mortgage options available in Ontario

RateBuddy displays national mortgage options and products available in Ontario. Actual rates, lender availability, qualification and approval depend on the borrower, property, mortgage purpose and lender requirements.

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Market Dynamics

Understanding Rates in Ottawa, Ontario

Mortgage rates in Ottawa, 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 Ottawa, 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 Ottawa, 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 Ottawa, Ontario

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

Land Transfer Tax

Ottawa, 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 Ottawa, Ontario to handle the title transfer and mortgage registration.

Appraisal

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

Ottawa, Ontario Mortgage Hack

Maximize Your Pre-Payment Privileges

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

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Local mortgage guidance

Mortgage questions about Ottawa

As of June 2025, competitive 5-year fixed rates in Ottawa from top lenders are hovering around 4.99% to 5.25%, while variable rates are slightly higher. The best rate for you depends on your down payment, credit score, and whether the mortgage is insured. This page shows the best live rates available from dozens of lenders to help you compare.

No. Unlike Toronto, buyers in Ottawa only pay the provincial Ontario Land Transfer Tax (LTT). There is no additional municipal land transfer tax, which can result in significant savings on closing costs. First-time homebuyers may also qualify for a provincial rebate of up to $4,000.

Yes, Ottawa is widely considered one of Canada's most stable real estate markets. Its stability is anchored by the strong public sector employment from the federal government and a large, ever-growing technology sector. This diverse job market helps insulate it from the more extreme volatility seen in other major Canadian cities.

The minimum down payment depends on the home's price. For homes under $500,000, the minimum is 5%. For homes between $500,000 and $999,999, it's 5% on the first $500,000 and 10% on the portion above that. For any home priced at $1 million or more, the minimum down payment is a flat 20%.
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