The Ultimate Ontario Mortgage Rates Guide in 2025
If you're looking for the best mortgage rates in Ontario, we’ve got you covered at RateShop Mortgage. We’re one of the leading mortgage brokerages in Canada, and our mission is simple: help you save big on your mortgage.
Here’s how we do it:
Get the Best Rates: We work with over 50 of the top mortgage lenders to secure the best rate possible for you. Plus, thanks to our volume-based discounts, we pass on exclusive savings that other brokers can’t offer. We’re so confident that we’ll beat the competition, we guarantee the best rates—or you’ll get $500!
More Options, More Flexibility: It’s not just about the rate; it’s about finding a mortgage that fits your needs in the long run. We offer mortgages with great features like flexible prepayment options, portability, and lower breakage costs—so you have more control if your circumstances change down the line.
Expert, Personalized Advice: When you call us, you’ll get advice from a seasoned Ontario mortgage expert. In just minutes, we’ll provide you with a no-obligation pre-approval, customized rate quotes, and answers to all your mortgage questions. Our goal is to build trust from day one and continue supporting you throughout the life of your mortgage.
Ready to get started? Compare rates below and see how we can help you save!
Updated Daily: Your Go-To Guide for Mortgage Rates and Strategies in Ontario
Mortgage Deal of the Week!
3-Year Fixed – 4.14%
This is a full-feature mortgage that gives you 10% annual pre-payment flexibility, portability to a new home, and lower breakage penalties compared to a 5-year rate. Plus, you get 24/7 online access with your lender, so you can view your mortgage and make changes anytime.
Why is this deal great? If you're looking for a lower rate today (close to a 5-year fixed), but still want the option to renew early if rates drop in the future, this is a solid choice. It’s a nice balance between stability and flexibility, especially in today’s unpredictable financial markets.
Why Choose RateShop Mortgage?
We work with over 65 top Canadian mortgage lenders, so you get access to the best rates and options available. When you partner with us, you're tapping into a wide range of deals, all designed to fit your unique situation.
In-Depth Analysis by Mortgage Term: Fixed Mortgage Rates in Ontario
• As of January 2025, the best fixed mortgage rates in Ontario have seen a slight increase over the past couple of weeks. These rates are primarily influenced by the Government of Canada Bond Yields. However, we expect to see some downward pressure on bond yields and fixed mortgage rates as we move into early 2025. • If Canada Bond Yields decrease later in January, there’s a good chance we’ll see the best fixed mortgage rates drop into the 3.89% – 4.09% range. That said, 2025 is shaping up to be a year of volatility in the fixed mortgage rate market, so it’s important to keep an eye on rate fluctuations. Timing your rate can make a big difference, and locking in when rates dip is the key to securing the best deal. • At Altrua, we offer a rate monitoring service to help you stay ahead of the game and lock in your best rate when the time is right
Variable Mortgage Rates by Term
When it comes to variable mortgage rates in Ontario, they’re directly influenced by the Bank of Canada’s rate decisions. As of January 29, 2025, we’re expecting a 0.25% rate cut. And looking further ahead, analysts are forecasting an additional 0.25% to 0.50% drop throughout the year. This means we could see the lowest variable rates dipping closer to 3.75%.
For more details, check out our in-depth reviews on variable rates and the ongoing debate of ‘fixed vs variable rate mortgages’:
Variable Mortgage Rates Ontario
Variable vs Fixed Mortgage Rates Guide
How Bond Yields Impact Fixed Rates
The direction of Canada Bond Yields plays a key role in pushing fixed mortgage rates up or down, especially as we anticipate more rate decisions from the Bank of Canada. It’s important to stay updated on these changes to make the most of your mortgage strategy.
Mortgage Rate Analysis by Lender Type
At RateShop, we’ve built a comprehensive database to compare rates from all major lenders. Here’s a quick breakdown of some of the lender types you’ll come across:
Big Bank Rates: These are the trusted names you’re probably familiar with. We’ll break down how their rates compare to others in the market.
Mid Size Bank Rates: Ontario has several high quality, stable and competitive mid sized banks.
Ontario Credit Union Rates: Offering innovative financing solutions, closer to the local communities. Rates can be most competitive.
Mortgage Financing Company (MFC)/ ‘Discount Lender’ Rates: Large, stable, National mortgage companies that don’t spend on branches and marketing, so they can keep rates at their lowest.
