Ontario Mortgage Rates — December 5, 2025
In this early December 2025 update, I’ll highlight today’s featured mortgage rates in Ontario and what they could mean for your renewal, refinance, or new purchase. These are sample rates only — your exact rate will depend on your down payment, income, credit, and property type.
Short Rate Outlook - December 2025
- Bank of Canada overnight rate is currently 2.25% after several cuts in 2025.
- Major banks’ prime rate is 4.45%, and most variable mortgages are discounted below that.
- Bond yields and fixed rates have stabilized, so the focus now is choosing the right term and structure for your plans over the next 3–5 years.
Today’s Featured Mortgage Rates
Prime Lender Rates (Best Qualified Borrowers)
- 5-Year Variable (Insured / Owner-Occupied): prime – 0.70% (currently 4.45%)
- 3-Year Fixed (Insured / Owner-Occupied): from 3.86%
- 5-Year Fixed (Insured / Owner-Occupied): from 4.04%
- 5-Year Fixed (Conventional, 20%+ down): from 4.40%
- 5-Year Fixed (Rental): from 4.54%
*Rates are “from” and subject to change without notice. Actual approval depends on credit, income, property type, and whether the mortgage is insured or conventional. OAC.
- Try my free mortgage calculator to estimate your payments.
- Learn the difference between fixed and variable mortgages here.
Alternate Lender Rates (Self-Employed / Higher TDS)
- 1 Year Fixed (First Mortgage): from 4.94%
- 2-Year Fixed (First Mortgage): from 5.09%
- 3-Year Fixed (First Mortgage): from 5.19%
- Second Mortgage / HELOC Alternatives: case-by-case, typically from 7.49%+
These programs are designed for clients who don’t fit traditional bank guidelines but still have strong equity and income. They can be very effective for debt consolidation, cash-flow relief, or short-term bridge situations.
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All photos used in this post are properly licensed via Envato Elements for MortgageMaurice.ca.