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What’s the Average Mortgage Rate in Ontario?
In province of Ontario, the average 5-year fixed insured mortgage rate is 6.26%, which is 22 basis point higher than 30 days ago. The average 3-year variable insured mortgage rate is 7.28%, which is 0 basis point higher than 30 days ago. The average 5-year variable insured mortgage rate is 6.88%, which is 3 bps higher than 30 days ago.
below are real time Ontario mortgage rates from more than 20 banks.
Canadian real time mortgage rates are as below:
Canadian Mortgage Rate Comparison
The average mortgage rate in Ontario varies based on 
factors such as the type of mortgage, lender, and borrower’s financial profile. As of now, five-year fixed mortgage rates in Ontario typically range from 4.5% to 5.5%, while variable rates generally fall between 4.0% and 5.0%. These rates are influenced by the Bank of Canada’s key interest rate, economic conditions, and market competition. Borrowers with strong credit and financial stability may secure lower rates. It’s advisable for prospective homeowners to compare different lenders, consider both fixed and variable rate options, and consult with mortgage professionals to find the best available rates.
