Explore Ontario’s Best Mortgage Rates

Big Bank Mortgage Rates

• TD Mortgage Rates

• CIBC Mortgage Rates

• Scotiabank Rates

• RBC Rates

Discount Lenders / Mortgage Financing Companies

Discount lenders play a major role in Ontario’s mortgage market, often keeping the Big Banks in check when it comes to rates. These multi-billion dollar companies manage over $100 billion in mortgage assets and service thousands of Canadian borrowers. Despite their influence, they typically don’t advertise aggressively, choosing instead to invest in offering low rates.

• Lower Fixed Rate Penalties: These lenders often have much lower penalties for breaking or canceling your mortgage.

• Flexibility Limitations: While they offer lower rates, they may have restrictions on porting, increase and blend options, or changes at the end of the mortgage term.

• Better Rates for Home Purchases Under $1M: Generally, discount lenders have great rates for home purchases and renewals under $1 million with minimal fine print risks.

Click for Discount Lender Rates:

1. • MCAP Rates

2. • First National Rates

3. • CMLS Rates

4. • MCAN Rates

5. • Marathon Rates

6. • Home Trust Rates

7. • Equitable Bank Rates

Credit Union Mortgage Rates

Credit unions are an important, often overlooked part of Ontario’s mortgage landscape. They are regulated by the Province of Ontario, not the Federal Government, giving them certain advantages.

• No Stress Test for Some Borrowers: Credit unions can approve larger mortgage amounts without requiring the federal stress test, especially for those with a 20% down payment.

• Special Mortgage Deals: Credit unions frequently offer attractive mortgage rate specials that banks and discount lenders can’t match.

• Higher Penalties: While some benefits are clear, credit unions often follow similar penalty structures to big banks, based on posted rates.

Click to Compare Credit Union Mortgage Rates:

1. • Meridian Credit Union

2. • Alterna

3. • First Ontario Credit Union

4. • DUCA

5. • Desjardins

Medium-Sized Bank Mortgage Lenders If you’re looking for a balance between big bank stability and more personalized service, medium-sized banks may be a good option.

1. • National Bank

2. • Manulife

3. • Wealth One

4. • ICICI

Bank Reverse Mortgage Providers

If you’re considering a reverse mortgage, the main providers in Canada are:

1. • Equitable Bank

2. • Home Equity Bank (CHIP)

Each has different strengths depending on your situation. Explore their rates and conditions in more detail by consulting a reverse mortgage guide.

Pre-Approval: The Smart First Step

No matter your current stage in the mortgage process, starting early is key to ensuring you get the best deal. With the significant sums involved, the right planning can save you thousands.

• Pre-Approval Benefits: It’s a no-obligation step that can position you to take advantage of favorable rate specials when they appear.

• Save Time & Money: Working with an expert can streamline the process, helping you save both time and money while securing the best mortgage for your needs. Learn more about the Ultimate Step-by-Step Pre-Approval Process [here].

Mortgage Rates in Ontario Cities

Different regions can offer varying rates, and it's crucial to stay informed based on your location. Here are a few cities to consider:

• Toronto Mortgage Rates

• Ottawa Mortgage Rates

• Kitchener-Waterloo Mortgage Rates

• London Mortgage Rates

• Windsor Mortgage Rates

• Barrie Mortgage Rates

• Hamilton Mortgage Rates

• Mississauga Mortgage Rates

Get Expert Mortgage Advice and the Best Rates with Ali Zaidi

Take advantage of Ali Zaidi’s Best Mortgage Rate Guarantee:

1. • 3-Year Fixed: 4.14%

2. • 5-Year Fixed: 3.99%

3. • Variable Rate: 4.25%

At RateShop Mortgage, we work directly with over 700 mortgage products from 65+ lenders to find the best option for you—without multiple credit checks. Our team will guide you to make an informed decision on the best mortgage term and lender for your situation.