What is the average mortgage rate in Ontario, Canada?

The current 5-year fixed mortgage rate in Ontario is approximately 4.31%, and the variable rate is approximately 3.62% (Bank of Canada data, as of Apr 16, 2026). Rates vary by lender, term, and whether you require CMHC insurance.

Do I need CMHC insurance when buying a home in Ontario?

CMHC mortgage default insurance is required in Ontario when your down payment is less than 20% of the purchase price. Premiums range from 2.80% to 4.00% of the insured loan amount and are added to your mortgage balance — not paid at closing.

What is the stress test rate for mortgages in Canada?

Under OSFI Guideline B-20, all Canadian mortgage applicants must qualify at the higher of their contract rate plus 2%, or 5.25%. With a 5.24% contract rate, the qualifying rate is approximately 7.24%.

Hypothèque — Ontario, Canada

Q: What is the land transfer tax in Ontario?

Ontario charges a provincial land transfer tax of 0.5–2.5% on the purchase price. Toronto home buyers pay an additional municipal land transfer tax at the same rates, roughly doubling the cost for City of Toronto properties.

Pre-filled with Ontario's average home price of C$860000, property tax of C$5160/year, and a 5-year fixed rate of 4.31%. Adjust any value below.

OSFI Stress Test: You must qualify at 7.24% (contract rate + 2%) under Canada's mortgage stress test rules. This calculator shows your actual payment — your lender will verify you can afford the stress-test rate.

Reference Rates

5-yr Fixed 4.31% Variable 3.62% Prime Rate 4.46% BoC Rate 2.2649%

Apr 16, 2026 · Bank of Canada

1 Détails de l'Hypothèque

Prix de la Propriété

Mise de Fonds

Montant Hypothécaire

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Taux d'Intérêt (live 5-yr fixed 4.31%)

Période d'Amortissement

2 Coûts Mensuels (Ontario averages pre-filled)

Taxe Municipale ((annuelle)) ~0.6% in ON

Assurance Habitation ((annuelle))

Frais de Copropriété (mensuel, si applicable)

Inclure l'Assurance SCHL

Obligatoire si mise de fonds < 20 %

Versement Mensuel Estimé

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Capital et Intérêts

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Taxe Municipale

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Assurance Habitation

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Frais de Copropriété

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Total des Intérêts

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Capital + intérêts

Montant Hypothécaire

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Montant financé

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Répartition du Versement Mensuel

Évolution du Solde Hypothécaire

Comparaison des Taux

Comment votre versement évolue selon le taux

Scénario de Taux	Versement C+I	Total Intérêts
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Tableau d'Amortissement

Détail mensuel complet

Mois	Année	Versement	Capital	Intérêts	Solde Restant

Ontario Marché Immobilier

Ontario is Canada's most populous province and has its most expensive housing market. The Greater Toronto Area commands prices well above the provincial average, while cities like Ottawa, Hamilton, and London offer relatively more affordable alternatives. Ontario's MPAC property assessments are frozen at 2016 values, creating significant gaps between assessed and market values.

Prix Moyen du Logement C$860000

Taux de Taxe Foncière Effectif ~0.6%

Taxe Foncière Annuelle Moy. C$5160

Assurance Annuelle Moy. C$1400

Taux du Test de Résistance ~7.24%

Acheter en Ontario

At C$860,000, the average Ontario home requires roughly C$172,000 down (20%) to avoid CMHC insurance. Buyers putting 5% down on an $860,000 home would pay C$32,240 in CMHC premiums added to their loan balance. The stress test at ~7.24% means you must qualify at nearly 2% above your actual rate.

Taxe de Bienvenue

Ontario charges a provincial land transfer tax of 0.5–2.5% on the purchase price. Toronto home buyers pay an additional municipal land transfer tax at the same rates, roughly doubling the cost for City of Toronto properties.

Assurance Hypothécaire SCHL

CMHC mortgage default insurance is required when your down payment is 5–19.99% of the purchase price. Premiums range from 2.80% to 4.00% of the insured loan amount and are added to your mortgage balance.

Marchés Clés

Toronto Ottawa Mississauga Brampton Hamilton

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