All Rates

All Mortgage Rates in Ontario

Welcome to RateBook.ca’s comprehensive All Mortgage Rates page, your one-stop destination for comparing the latest mortgage rates across Ontario. Whether you’re a first-time homebuyer, looking to refinance, or considering an investment property, we provide the tools and information to help you make confident, informed decisions.

How to Choose the Right Mortgage Rate

Assess Your Financial Goals: Consider how long you plan to stay in your home and your comfort level with interest rate fluctuations.
Understand the Total Cost of Borrowing: Don’t just focus on the interest rate—consider penalties, prepayment options, and lender terms.

Consult with a Mortgage Expert: Schedule a personalized consultation with one of our trusted mortgage partners to find the best option for your unique situation.

Compare Mortgage Rates Across Different Terms

Term	Best Available Rate	Average Market Rate	Ideal For	Pros	Cons
1-Year Fixed	4.44%	5.24%	Homebuyers anticipating a drop in interest rates within the next year.	Lock in a rate for 12 months – Easier to switch or refinance after one year	Less stability compared to longer terms
3-Year Fixed	3.89%	4.24%	Buyers wanting predictable payments without a long commitment.	Mid-term security with moderate flexibility – Potential for lower future rates	Might miss longer-term rate stability if rates rise significantly
5-Year Fixed	3.84%	4.25%	Homebuyers seeking payment stability and protection against rising interest rates.	Predictable monthly payments – Protection against rate increases	Higher penalties for early termination – Less flexibility if rates drop
5-Year Variable	3.95%	4.25%	Borrowers who can tolerate fluctuations and anticipate declining rates.	Historically lower than fixed rates over time – Lower penalties for early termination	Payments can rise if rates increase – Less predictable budgeting
10-Year Fixed	5.19%	5.60%	Homeowners seeking maximum stability and long-term planning.	Fixed payments for 10 years – Protection from long-term rate hikes	Higher interest rates compared to shorter terms – High penalties for early breaking
Home Equity Line of Credit	Prime + 0.25%	Prime + 0.50%	Flexible borrowing against home equity.	Borrow only what you need – Interest-only payments	Variable rates may increase costs – Risk of over-borrowing

Specialty Mortgage Products

Product	Best Available Rate	Average Market Rate	Ideal For	Pros	Cons
5-Year Fixed Insured	3.84%	N/A	Buyers with less than 20% down payment.	– Lower rates due to mortgage insurance	– Additional insurance costs may apply
5-Year Fixed Uninsured	4.34%	N/A	Properties over $1M or down payments over 20%.	– No insurance premiums	– Higher rates as lender assumes more risk
Alt-A Mortgages	Starting at 5.99%	Varies	Borrowers with slight credit or income issues.	– Easier qualification than prime loans	– Higher rates than prime mortgages
B Mortgages	Starting at 7.00%	Varies	Borrowers with significant credit challenges.	– Flexible lending criteria	– High interest rates – Additional fees may apply
Mortgage Investment Corporations (MIC)	Starting at 8.00%	Varies	High-risk borrowers or unconventional properties.	– Quick access to funds	– Very high interest rates – Shorter repayment terms
Private Mortgages	Starting at 7.50%	Varies	Borrowers with unique financial situations or poor credit.	– Flexible approval criteria – Quick funding	– Higher interest rates – Shorter loan terms and fees
Reverse Mortgages	Starting at 6.99%	Varies	Homeowners aged 55+ looking to access home equity without monthly payments.	– No monthly mortgage payments – Access to home equity	– Reduces estate value – Higher interest accrual over time
Construction Mortgages	Starting at 6.50%	Varies	Financing for new home builds or major renovations.	– Funds released in stages as construction progresses	– Complex approval process – Higher interest rates
Commercial Mortgages	Starting at 4.25%	Varies	Purchasing or refinancing commercial properties.	– Tailored solutions for business needs	– Stricter qualification criteria – Larger down payments required

Ready to get Started?

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