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%.

Hipoteca — 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 Detalles del Préstamo

Precio del Inmueble

Entrada / Señal

Importe del Préstamo

Calculado automáticamente —

Tipo de Interés (live 5-yr fixed 4.31%)

Período de Amortización

2 Costes Mensuales (Ontario averages pre-filled)

IBI ((anual)) ~0.6% in ON

Seguro de Hogar ((anual))

Gastos de Comunidad (mensual, si aplica)

Incluir Seguro CMHC

Obligatorio si la entrada < 20 %

Pago Mensual Estimado

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Capital e Intereses

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IBI

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Seguro de Hogar

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Gastos de Comunidad

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Total de Intereses

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A lo largo del préstamo

Coste Total

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Capital + intereses

Importe Financiado

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Cantidad prestada

Entrada

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Del precio del inmueble

Desglose de la Cuota Mensual

Evolución del Capital Pendiente

Comparativa de Tipos

Cómo cambia tu cuota según el tipo de interés

Escenario de Tipo	Cuota C+I	Total Intereses
Introduce los datos para ver escenarios

Cuadro de Amortización

Desglose mensual completo

Mes	Año	Cuota	Capital	Intereses	Capital Pendiente

Ontario Mercado Inmobiliario

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.

Precio Medio de la Vivienda C$860000

Tasa Efectiva del IBI ~0.6%

IBI Anual Medio C$5160

Seguro Anual Medio C$1400

Tasa de Prueba de Estrés ~7.24%

Comprar 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.

Impuesto sobre Transmisiones

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.

Seguro Hipotecario CMHC

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.

Mercados Clave

Toronto Ottawa Mississauga Brampton Hamilton

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