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Current Mortgage Rates in Toronto & Across Ontario

Mortgage Centre Offers The Most Toronto & Ontario Mortgage Options

Current Mortgage Rates in Toronto and Across Ontario | Best Mortgage RatesAs your Toronto and Ontario mortgage broker and home finance specialists, The Mortgage Centre can offer you the most mortgage options than any other bank or credit union. Since we work for you, not the lender, we look to suggest lenders offering you the best mortgage product at the lowest Ontario mortgage rate possible.

CIBC, Scotia, National, PC Financial… We Offer the Big Banks, Too!

Many clients are unaware of the huge selection of Toronto mortgage lenders which serve all of Ontario such as Windsor, London, Hamilton and Ottawa. While the big banks do not always offer the lowest and most competitive rates, we have access to mortgage broker discounts on big bank mortgages to save you interest over the rates you will receive at your local branch. It is important to keep in mind that often times, we will suggest choosing secondary lenders such as MCAP, RMG, Meridian, First National, Bridgewater Bank, ICICI Bank, and many others that we have access to for more competitive and interest saving Toronto & Ontario mortgage rates.

Our Best Mortgage Rate is Currently 3.04% for 5-Year Fixed

Our best advertised mortgage rate in Ontario is currently a 5-year fixed mortgage at 3.04% through MCAP, a secondary lender owned by Bank of Montreal (BMO). This product offers 20% annual lump sum pre-payment privileges on any payment date or the option to increase your regular mortgage payment by 20%. Early termination fees or prepayment penalties for paying above 20% of the balance is 3 months interest or the interest rate differential, which is the standard in Canada.

We Guarantee to Match Our Competitors

Managed to find a better rate from another mortgage broker or lender? Even if you have already submitted an application to us, we will match the rate to ensure you save the most money over your next mortgage term.

How do we do it? Since mortgage brokers are only paid once a mortgage is funded by a lender through a commission or finders fee, we will buy-down the interest rate by accepting a lower commission from the lender. In our eyes, losing a portion of our pay is better than not being paid at all! Furthermore, our rate guarantee encourages our satisfied clients to refer us to their friends and family from across Ontario. Win-win, we say!

Current Mortgage Rates in Ottawa, Toronto and Across Ontario

Friday October 19th, 2012

Ontario mortgage rates have been stable for quite some time, but speculation suggests rates cannot stay this low for much longer. Whether that means over the next few months or year, we will have to wait and see. Following 5-Year Canada Bonds is a great way to help determine where 5-year fixed mortgage rates will go.

To keep you up to date on just a few of the Toronto & Ontario mortgage rates from lenders we have access to, here are some current rates as of Friday October 19th, 2012:

Ontario Mortgage Lender 1 Year
Fixed Rate
2 Year
Fixed Rate
3 Year
Fixed Rate
4 Year
Fixed Rate
5 Year
Fixed Rate
5 Year
Variable Rate
10 Year
Fixed Rate
Bridgewater 3.24% 3.39% 3.25% 3.57% 3.25% N/A N/A
CIBC 2.70% 3.04% 3.35% 3.49% 3.29% 3.20% 5.50%
Equitable Trust 3.50% 3.85% 4.05% 4.64% 5.14% N/A N/A
First National 2.74% 2.69% 3.10% 3.15% 3.19% 3.00% 3.99%
ICICI Bank 3.15% 3.65% 3.44% 3.49% 3.14% 2.75% N/A
ICSavings 3.55% 3.80% 4.00% 4.75% 4.99% N/A N/A
ING Direct 3.25% 3.25% 3.25% 3.25% 3.19% 3.00% 3.99%
Laurentian Bank 2.65% 3.20% 3.60% 3.69% 3.14% 3.10% 4.59%
MCAP 2.69% 2.69% 3.09% 3.19% 3.04% 2.90% 3.89%
Meridian 3.50% 3.85% 4.35% 3.40% 3.48% N/A 5.24%
National Bank 2.89% 3.09% 3.19% 3.19% 3.24% 3.00% 4.69%
PC Financial 3.14% 3.10% 3.14% 3.20% 3.24% 3.10% 4.19%
RMG Mortgages 2.89% 2.89% 2.99% 3.09% 3.09% 3.90% N/A
Scotiabank 2.89% 3.09% 3.19% 3.29% 3.19% N/A 4.69%
Street Capital 2.99% 3.15% 3.19% 3.69% 3.19% 3.10% N/A
TD Canada Trust 2.74% 2.69% 3.10% 3.15% 3.19% 3.00% 3.99%
ValleyFirst 2.80% 3.09% 3.19% 3.29% 3.19% 3.00% 5.25%


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We always provide unbiased advice and the lowest Ontario mortgage rates available. Apply online or contact us today for a no obligation analysis!

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