Current Mortgage Rates in Ottawa
Browse our aggregated Ottawa mortgage rates to find the lowest rates possible. Click “See all” to compare.
|1-yr||3.14% CanWise Financial A Ratehub Company Lic. 12530 Compare all rates|
|2-yr||2.99% CanWise Financial A Ratehub Company Lic. 12530 Compare all rates|
|3-yr||2.54% Butler Mortgage Lic. 12118 Compare all rates|
|4-yr||2.89% CanWise Financial A Ratehub Company Lic. 12530 Compare all rates|
|5-yr||2.54% CanWise Financial A Ratehub Company Lic. 12530 Compare all rates|
|6-yr||3.47% CanWise Financial A Ratehub Company Lic. 12530 Compare all rates|
|7-yr||2.89% CanWise Financial A Ratehub Company Lic. 12530 Compare all rates|
|10-yr||3.09% CanWise Financial A Ratehub Company Lic. 12530 Compare all rates|
Prime - 0.15CanWise Financial A Ratehub Company Lic. 12530 Compare all rates
Prime - 1.31Butler Mortgage Lic. 12118 Compare all rates
Current Ottawa Mortgage Rate News
Best Ottawa mortgage rates
Ottawa mortgage rates are predicted to stay at relatively low levels, although there is a possibility of moderate increases as 2017 comes to a close, according to some economists. Discounted 5-year variable rates are expected to remain near 2.70% (Prime-0.0%).
As the nation's capital, Ottawa is Canada's fourth largest city with a population of over 1.2 million. The city is considered a world class tourism and convention destination, as well as home to dozens of federal government organizations and foreign embassies. Ottawa ranked first in provincial job gains in the first quarter of 2012 with its employment-to-population ratio rising close to a 2.0% year high, while the average worker boasted the highest weekly earnings in Canada.
The Ottawa housing market
The Ottawa real estate market is expected to see some growth throughout 2016 before activity drops in 2017. Moreover, housing starts are anticipated to see declines in both 2016 and 2017 as apartment starts decrease.
Homebuyers with increased income will play a significant role in supporting demand for Ottawa’s housing market, taking advantage of record-low mortgage rates to help drive the market forward. However, as mortgage carrying costs increase, sales in the resale market will be pushed downwards.
Rent in Ottawa is among the highest in the country. While demand for rental housing has increased from 2015 to 2016, there wasn’t enough growth to outpace supply. New condos that are up for rent, on the other hand, may not face as much competition as purpose-built units will. The large supply and increased vacancy rates will lead to slower growth in average rent rates.
Ottawa mortgage brokers
With an Ottawa mortgage broker , you can be sure you’ll receive the best and lowest mortgage rate in the city. Mortgage brokers are free to use and will give you access to multiple rates and lenders, giving you many options during the home buying process.
Ottawa real estate lawyers
When purchasing a home, there are legal actions and closing costs that need be addressed. An Ottawa real estate lawyer will review all your documents, do a search on the title of your home, register the title in your name and make sure all of your Ottawa closing costs are paid.