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Ottawa mortgage rates

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2 yearFixed


1 yearFixed
Meridian Credit Union

Meridian Credit Union

3 yearFixed
CanWise Financial

CanWise Financial

4,228 reviews

CanWise Financial

4 yearFixed
CanWise Financial

CanWise Financial

4,228 reviews

CanWise Financial

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Ottawa mortgage rates: Common questions

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Let us help you determine which rate best suits your individual needs by answering a few short questions about your home and financial history.

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Want to learn more? Check out our comprehensive education centre

Getting the best mortgage rates in Ottawa

As Canada’s capital city, Ottawa is a busy place. While less densely populated than Toronto and Vancouver, Ottawa has large local and transient populations, both of which need housing. This is good for home buyers, as it means there's lots of competition in the Ottawa mortgage market.

If you’re thinking of getting a new mortgage in Ottawa, or need to renew, you’re in the right place. The best way to get a better deal on your next mortgage is to compare rates and products from multiple lenders, to make sure you get the right mortgage for your needs.

Best mortgage rates in Ottawa +

Comparing the best mortgage rates in Ottawa

The tables on this page list the up-to-the-minute best rates currently available from Ottawa mortgage brokers, big banks, and other mortgage providers. Having them all in one place makes it harder to miss out on a great deal.

Keep in mind that your personal rate could be different than the ones in the table above. This is because the rate your qualify for is affected by a lot of factors, including your credit score, down payment, as well as the purchase price of the property and what it will be used for.

To properly understand what rates you're likely to be approved for, you'll need to source quotes that are tailored to your actual financial situation. We can help you get personalized quotes from multiple lenders in just a couple of minutes. Use the tools at the top of this page to get started.

Ottawa closing costs

If you’re buying a home in Ottawa, make sure you factor in the closing costs you’ll have to pay. While many of the costs of owning a home can be added to your mortgage and paid off over time, there are some you’ll need to pay upfront, in cash. Be sure to save enough to pay for these, on top of your down payment.

  • Ontario Land Transfer Tax: The Ontario government charges a land transfer tax on all property sales. This will add 0.5% - 2.0% to the purchase price. 
  • Sales tax on mortgage default Insurance: Some mortgages require you to pay for mortgage default insurance, also called CMHC insurance. If this is the case, your premiums will be added to your mortgage. The provincial sales tax on your premiums, however, will need to be paid for upfront. Ontario currently charges 8% PST on CMHC premiums.
  • Legal fees: All property purchases require a real estate lawyer to facilitate the sale, look over the contracts, and make any required changes to the land title. Costs for these services are normally in the hundreds to low thousands of dollars.   

These are just a few of the closing costs you’ll pay when buying a home in Ottawa. Learn more on our closing costs education center page.

Note: If you’re house hunting in both Ottawa and Gatineau, remember that land transfer taxes are different in Quebec, with a maximum rate of 1.5%.

Ottawa first-time homebuyer rebates

In Ottawa, there is a first-home buyer rebate of the provincial land transfer tax. The government will rebate up to $4,000 of your land transfer tax if you’re a first-home buyer.

If you’re looking for a home in either Ottawa or Gatineau, it’s important to know that there are no similar rebates in Quebec. While land transfer taxes in Quebec are lower than they are in Ontario, not receiving a rebate could actually make them more expensive. Learn more about land transfer tax rebates here

Regardless of which side of the river you buy a home, national first-time homebuyer programs are still available to everyone, so make sure to check them out if you’re eligible.

Author bio

Jamie David

Jamie David is the Business Director of Mortgages at A graduate of the Systems Design Engineering program at the University of Waterloo, she has over 15 years of business, marketing, and engineering experience in the financial technology, banking, education, energy and retail industries. She has worked in top organizations like TD Bank, Trading Pursuits, Petro-Canada, and the TTC. Her passion for personal finance, investing, education, and business strategy brought her to where she heads a very talented, cross-functional team that is dedicated to providing Canadians with the best mortgage experience all the way through from online search to (keys-in-your-hand) funded mortgage.


We help you find better financial products for your specific needs. Whether you need a mortgage, credit card, savings account, or insurance coverage, we get you the information you need to choose better.

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Financial institutions pay us for connecting them with customers. This could be through advertisements, or when someone applies or is approved for a product. However, not all products we list are tied to compensation for us. Our industry leading education centres and calculators are available 24/7, free of charge, and with no obligation to purchase. To learn more, visit our About us page.

How are CanWise Financial and connected?

Both and CanWise Financial are owned and operated by Ratehub Inc. When comparing mortgage rates on, you’ll see rates from a number of lenders and mortgage brokers, including CanWise Financial. All products are sorted according to the rates available to you and the selection criteria you’ve shared with us.

We’re happy to send users to CanWise because of their great rates, trusted advice, and experienced mortgage team. Read any of their 3,300 five-star Google and Facebook reviews and you’ll see what we mean.