Rates starting from 3.99%
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Current Mortgage Rates in Ontario (Updated for 2025)

When shopping for a mortgage, one of the most important things to consider is the mortgage rates in Ontario. Rates can fluctuate frequently, and even a small change can make a big difference in the amount you’ll pay over time.

Mortgage Size

$500,000

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TermRates FromAs Affordable As
1 Year Fixed4.89%
$2120 /mo
2 Year Fixed4.24%
$1965 /mo
3 year fixed4.14%
$1942 /mo
4 year fixed4.19%
$1954 /mo
5 year fixed4.19%
$1954 /mo
5 year Variable4.2%
$1956 /mo
7 year fixed5.15%
$2184 /mo

5-Year Fixed Mortgage Rates in Ontario

A 5-year fixed mortgage is a popular choice for many homeowners in Ontario, and it’s easy to see why. It’s the perfect solution if you’re looking for predictability and want to avoid any surprises when interest rates rise.

Many homeowners prefer the security of a fixed-rate mortgage because they know exactly how much they’ll pay each month.

If you’re considering a 5-year mortgage, it’s important to compare today’s average mortgage rates in Ontario with historical trends.

Who Should Consider a 5-Year Fixed Mortgage?

A 5-year term is ideal if you:

  • Plan to stay in your home for at least 5 years.
  • Want a stable, predictable monthly payment.
  • You are worried about potential rate increases.

At LendingHub, we specialize in helping you secure the best mortgage rates in Ontario. With access to trusted lenders, we can offer you competitive rates and ensure that your mortgage fits both your financial goals and your lifestyle.

Looking for the best deal? Check out today’s top 5-year fixed mortgage rates in Ontario..

Ready to lock in the best mortgage rates in Ontario? Let LendingHub help you find the perfect mortgage solution. Contact us today for expert advice and personalized service!

Variable vs Fixed Mortgage Rates in Ontario

Choosing between fixed and variable mortgage rates in Ontario can be tricky, but don’t worry—we’re here to help you decide what’s best for your situation.

Fixed-Rate Mortgages

On the other hand, if you prefer the stability of consistent payments, we can guide you toward the best fixed mortgage rates in Ontario. It gives you peace of mind knowing exactly what your payments will be for the entire term.

  • Pros
    1. Predictability
    2. Protection against rising rates
  • Cons
    1. Higher Initial Rates
Variable-Rate Mortgages

If you’re considering a variable-rate mortgage, we can help you secure the best variable mortgage rates in Ontario, Canada. It allows you to take advantage of lower initial rates and potential savings if Ontario mortgage interest rates decrease.

  • Pros
    1. Lower Starting Rates
    2. Potential for Savings
  • Cons
    1. Payments can fluctuate with market rates
At LendingHub, we understand that choosing between fixed and variable mortgage rates can be tough. That's why we’re here to make the process easier for you. With our expert guidance, we’ll walk you through the pros and cons of each option.

Not sure whether a fixed or variable mortgage is right for you? Get a free call today for expert advice.

How to Get the Lowest Mortgage Rates in Ontario

Securing the lowest mortgage rates in Ontario isn’t always straightforward, but there are several key steps you can take to increase your chances:

  • Improve Your Credit Score: Lenders offer better rates to those with strong credit histories. If your credit score is low, take the time to improve it before applying for a mortgage.
  • Save for a Larger Down Payment: The more money you can put down upfront, the less risk you pose to the lender, which could help you secure a lower rate.
  • Get Pre-Approved: Mortgage pre-approval helps show lenders that you’re serious and financially capable, which may lead to better rates.
  • Shop Around: Don’t settle for the first rate you see. At LendingHub, we help you compare offers from multiple lenders to ensure you’re getting the cheapest mortgage rates in Ontario.
  • Consider the Term Length: A shorter term, like a 5-year fixed mortgage rate in Ontario, might offer a lower rate compared to a 30-year term.

Don’t settle for high rates! Learn how to find the lowest mortgage rates in Ontario and start saving money immediately. Click here to get started.

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Average Mortgage Rates in Ontario

Over the past five years, mortgage rates in Ontario have seen some notable fluctuations. The average mortgage rate in Ontario has varied depending on market conditions, economic factors, and decisions made by the Bank of Canada. Understanding these fluctuations can help you make an informed decision when securing a mortgage.

In 2020, the average mortgage rate in Ontario dropped significantly as the Bank of Canada slashed rates to combat the economic impact of the COVID-19 pandemic. Rates for 5-year fixed mortgages dipped to historical lows, with the average mortgage rate in Ontario falling below 2.0%. This trend continued into 2021 and early 2022, as the market remained favorable for homebuyers and refinancers.

As the economy bounced back, the Bank of Canada started raising rates to control inflation, which caused mortgage rates to go up.

By mid-2023, average mortgage rates in Ontario had climbed to around 5% for a 5-year fixed mortgage. This increase was a response to rising inflation and changes in the global economy.

The current mortgage rates in Ontario, Canada, are constantly adjusting based on these factors. At LendingHub, we monitor these fluctuations to help you lock in the best possible rate.

Want the best mortgage deal in Ontario? Discover how to secure the lowest rates and save thousands. Start your application today!

FAQs About Mortgage Rates in Ontario
A competitive 5-year fixed rate is currently around 3.84%, while variable rates are approximately 3.95%. Rates vary based on individual profiles.
Rates can change frequently, sometimes daily, based on economic indicators and lender policies.
It depends on your financial situation and risk tolerance. Fixed rates offer stability, while variable rates may offer lower initial payments but come with the risk of rate increases.
Rates have been gradually increasing in 2025, but future movements depend on economic conditions and central bank policies.

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