Mortgage rates in Ontario remain relatively stable, but fixed rates can change quickly with movements in Government of Canada bond yields.
Here is a straightforward look at current mortgage rates, what is influencing them, and which options may be worth considering.
Mortgage Market at a Glance
- Bank of Canada overnight rate: 2.25%
- Bank prime rate: 4.45%
- Next Bank of Canada announcement: Wednesday, September 2, 2026
- Variable rates remain competitive for borrowers who value flexibility.
- Fixed rates provide greater payment certainty but may carry higher prepayment penalties.
Featured Mortgage Rates
Rates shown are for owner-occupied properties and are subject to borrower and property qualification. Rate premiums may apply to conventional mortgages, rental properties, and borrowers with marginal credit. B-lender and private mortgage rates shown are starting rates.
Rates are subject to change without notice. Terms, conditions, fees, and lender approval criteria may apply.
Not Sure Which Mortgage Option Is Right for You?
The lowest rate is not always the best mortgage. Book a telephone appointment with me to discuss the option that best fits your needs.
| Mortgage Option | Current rate (Owner-Occupied) |
|---|---|
| 5-Year High-Ratio Variable | Prime − 0.85% = 3.60% |
| 3-Year High-Ratio Variable | Prime − 0.90% = 3.55% |
| 5-Year High-Ratio Fixed | 4.19% |
| 4-Year High-Ratio Fixed | 4.19% |
| 3-Year High-Ratio Fixed | 4.04% |
| 2-Year High-Ratio Fixed | 3.99% |
| 1-Year High-Ratio Fixed | 4.59% |
| B-Lender 1-Year Fixed | 5.09% |
| B-Lender 3-Year Fixed | 4.99% |
| Second Mortgage – Equityline Visa | From 5.99% (LTV up to 60%) |
| Private First Mortgage (65% Loan-To-Value) | From 5.99% (credit score 660+) |
| Private Second Mortgage | From 8.80% |
Last updated: August 5, 2026
Phone: 416-618-9312 (cell / text / WhatsApp)
Web: https://MortgageMaurice.ca
email: maurice@sherwoodmortgagegroup.com
Maurice Kwok ・ 郭澤文
Mortgage Broker, CPA, MBA ・ 粵語 ・ 國語
FSRA-licensed Mortgage Broker (Licence #M13000496)
Sherwood Mortgage Group (FSRA Brokerage Lic.#12176)
Guiding Ontario homebuyers and homeowners since 1995.