Toronto Mortgage Rates

Featured Mortgage Deals in Toronto, ON

Compare current fixed and variable mortgage rates in Toronto. Review curated lender options, estimated payments and terms for purchases, renewals and refinancing.

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

Toronto's dynamic and competitive real estate market demands that home buyers find every possible advantage. This page features a curated list of special offers and top-pick mortgage products specifically for the Greater Toronto Area, as selected by our team.

Compare current fixed and variable mortgage options for Toronto, then review estimated payments, term length, prepayment privileges, penalties, qualification requirements and property eligibility. The lowest advertised rate is not automatically the lowest-cost or most flexible mortgage for every borrower.

Current Mortgage Rates in Toronto

Live as of: August 17, 2026 | Toronto, 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
Updating rates...
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Mortgage rates across Canada

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Find national mortgage offers and rates available in your province, then explore a page designed for your local market.

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2 markets
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18 markets
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9 markets
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3 markets
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NORTH Northern Canada
3 markets
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Rates by lender

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Explore mortgage rate information from major Canadian banks, regional institutions and credit unions. Compare more than the advertised rate before choosing a provider.

How these rates are selected

Toronto 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 Toronto, Ontario

Mortgage rates in Toronto, 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 Toronto, 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 Toronto, 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 Toronto, Ontario

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

Land Transfer Tax

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

Appraisal

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

Toronto, Ontario Mortgage Hack

Maximize Your Pre-Payment Privileges

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

Reduce Interest Costs
Shorten Amortization
Build Equity Faster
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Find your mortgage path

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Advanced mortgage tools

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Local mortgage guidance

Mortgage questions about Toronto

Many lenders use national or provincial pricing, but product availability, local credit-union options, property type, loan size and appraisal requirements can affect the options available in Toronto. Compare the complete product terms and confirm eligibility for the specific property.

A fixed mortgage offers more payment and rate certainty for the term, while a variable mortgage can provide different pricing and flexibility but exposes the borrower to rate changes. The better fit depends on budget resilience, time horizon, risk tolerance, prepayment plans and the product’s conversion and penalty terms.

Toronto purchasers generally need to budget for both Ontario Land Transfer Tax and the City of Toronto Municipal Land Transfer Tax, subject to any available relief. Legal services, title insurance, inspection, appraisal, adjustments, condo charges and moving costs also matter. Obtain a transaction-specific estimate from the appropriate authority and your legal or notarial professional because rates, exemptions and required services can change.

Yes, but the available pricing and terms can differ by mortgage purpose. Purchases, insured or uninsured mortgages, renewals, switches, refinances and rental properties may each have different eligibility, loan-to-value and documentation requirements.

A pre-approval can establish a working budget and may protect a rate for a limited period, but it is not a final mortgage commitment. Approval still depends on the selected property, appraisal, updated finances, down payment, credit and lender review.

The federal mortgage stress test applies in Toronto as it does elsewhere in Canada. The qualifying rate depends on the current federal minimum qualifying rate and the borrower's contract rate. Confirm the current requirements when applying because mortgage qualification rules can change.

Yes. Buyers in Toronto are subject to both the Ontario provincial land transfer tax and a separate Municipal Land Transfer Tax (MLTT) levied by the City of Toronto. First-time home buyer rebates are available for both.
Tools and guidance

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