Skip to main content
Ratehub logo
Ratehub logo

Let's help you find the best mortgage rate in Toronto

We’ll find the best rates for you in less than 2 minutes.

Toronto mortgage rates

Rates updated:

  • No Results
These are the best
  • all
  • 1-year
  • 2-year
  • 3-year
  • 4-year
  • 5-year
  • 6-year
  • 7-year
  • 8-year
  • 9-year
  • 10-year
  • 25-year
  • fixed
  • variable
mortgage rates for
  • buying a home
  • renewing
  • refinancing
  • home equity line of credit
RateTermTypeProvider
Featured1.54%
2 yearFixed
Duca

Duca

Featured1.99%
1 yearFixed
CanWise Financial

CanWise Financial

4,228 reviews

CanWise Financial

Featured1.99%
5 yearFixed
CanWise Financial

CanWise Financial

4,228 reviews

CanWise Financial

Featured2.08%
4 yearFixed
CanWise Financial

CanWise Financial

4,228 reviews

CanWise Financial

Step by step

How it works

  • Compare the best rates

    Answer a few quick questions and see the lowest rates you can qualify for.

  • Apply online

    Apply for your mortgage instantly and easily using our secure online application.

  • Connect with our mortgage advisors

    Questions or comments? Book a call and one of our mortgage advisors will walk you through all the details

MORTGAGE CALCULATORS

Not sure where to start? Check out our tools to get started

FAQS

Toronto mortgage rates: Common questions

How much can I save by comparing Toronto mortgage rates?

Why compare Toronto mortgage rates with Ratehub.ca?

Are Toronto mortgage rates higher than other cities?

What’s the difference between variable and fixed rates?

Is it worth getting a mortgage pre-approval?

Which bank has the best mortgage rates in Toronto?

Should I use a mortgage broker in Toronto?

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

education centre

Want to learn more? Check out our comprehensive education centre

Getting the best mortgage rates in Toronto

Toronto is Canada’s most populated city, which has made it one of the hottest real estate markets in the country. Buying a home in Toronto is then made more complex by the additional regulations in place in the city.

These extra rules and fees are part and parcel of buying a home in Toronto. However, you can make life easier on yourself by getting a great deal on your next mortgage. Here's what you need to know to get a better deal.

Best mortgage rates in Toronto +

Comparing the best mortgage rates in Toronto

The comparison tables above list the best rates in Toronto, up to the minute. Comparing rates between multiple providers and mortgage brokers is the best thing you can do to get the lowest rate possible.

Of course, your personal rate may be different from the rates listed above. The rate you're eligible for can change based on things like your down payment, the price of the house, your credit score, which lender you choose, as well as what the property is being used for.

Luckily, you can get personalized quotes for mortgage rates without filling in a full mortgage application. Use the tools at the top of this page and we’ll provide you with personalized mortgage quotes from Toronto lenders in under two minutes.

Toronto closing costs

When applying for a new mortgage in Toronto, it’s important to be aware of the closing costs associated with all property purchases. Most of these costs will need to be paid upfront, so you’ll need to save the cash to pay for them (in addition to your down payment).

  • Ontario Land Transfer Tax: Provincial land transfer taxes are collected by the Ontario government, and are between 0.5% - 2.0% of the purchase price.
  • Toronto Land Transfer Tax: Unlike most cities, the City of Toronto charges its own land transfer tax on top of the provincial tax. This adds an additional 0.5 - 2.0%, depending on the purchase price.
  • CMHC Insurance and PST: If your mortgage is an insured mortgage, you'll need to pay for mortgage default insurance - this will normally be included as part of your mortgage. However, provincial sales tax (PST) on your premiums must be paid upfront. Ontario currently charges 8% PST on CMHC premiums.

These are just some of the closing costs you’ll have to pay in Toronto. Learn more on our closing costs education center page.

Toronto first-time homebuyer rebates

In an effort to make it easier for first-time homebuyers to buy property in Toronto, there are first-home buyer rebates of land transfer taxes at both the provincial and municipal levels.

  • The Ontario government will rebate up to $4,000 of provincial land transfer tax for first-time homebuyers.
  • The City of Toronto will rebate up to $4,475 of the Toronto land transfer tax for first-time homebuyers.

You can learn more about land transfer tax rebates here. If you’ve never bought a home before, you should also check out the other first-time homebuyers programs in Canada.

Author bio

Jamie David

Jamie David is the Business Director of Mortgages at Ratehub.ca. 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 Ratehub.ca 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.

About Ratehub

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.

How does Ratehub.ca make money?

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 Ratehub.ca connected?

Both Ratehub.ca and CanWise Financial are owned and operated by Ratehub Inc. When comparing mortgage rates on Ratehub.ca, 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.