Mortgage Rates Ontario 2026 — Best Fixed & Variable Rates

Current Mortgage Rates in Ontario — June 2026

Ontario remains Canada's most populous province and most competitive mortgage market. With the Bank of Canada holding at 2.25%, here's what borrowers in Ontario can expect in 2026.

Term	Best Rate	Type
Variable	3.35%	All lenders
1-Year Fixed	4.49%	Credit unions
3-Year Fixed	4.69%	Online lenders
5-Year Fixed	4.84%	Brokers

Ontario Housing Market 2026

Ontario's housing market is bifurcated in 2026. The Greater Toronto Area remains flat to slightly negative as affordability remains stretched. Meanwhile, smaller Ontario cities like Windsor, Sudbury, and Thunder Bay are seeing 4–5% annual price growth driven by remote workers and affordability migration.

Ontario-Specific Mortgage Programs

• Ontario LTT Rebate: First-time buyers get up to $4,000 back on Ontario's land transfer tax
• Ontario HST New Home Rebate (2026): Removes HST on new builds under $1M — saves up to $130,000
• Toronto LTT Rebate: Toronto buyers also get a municipal LTT rebate up to $4,475

Best Lenders in Ontario

Meridian Credit Union, DUCA, and Alterna Savings consistently offer rates below the Big 6 banks in Ontario. Online lenders like nesto and First National are also strong options. A mortgage broker comparing all options is recommended for most Ontario buyers.

Ontario Stress Test

At Ontario's current average home price of $850,000+, the stress test significantly limits buying power. A household earning $150,000/year qualifies for approximately $680,000 at stress test rates — meaning most GTA buyers need significant down payments or dual incomes.

⚠️ This article is for informational purposes only. Not financial advice. Canada Mortgage Rates is not a licensed mortgage broker. Always verify with a licensed professional.