Best mortgage rates in Ottawa.
Today’s best rate in Ottawa is 3.44%. We compare Ottawa mortgage rates across 100+ Canadian lenders and lock your best on one application — no bureau pull to start.
The lowest rate on today’s board for Ottawa is 3.44%. On the average price of $688,253, 20% down and the best 5-year fixed come to about $2,938/month; the smallest legal down payment is $43,826, plus $10,240 of Ontario land transfer tax at closing. Stable government-employee borrower base; strong renewal-shopping volume.
Meridian Credit Union Best5-year variable3.44%Apply Meridian Credit Union5-year variable3.44%Apply 
Radius Financial3-year variable3.55%Apply Radius Financial3-year variable3.55%Apply 
Marathon Mortgage Corp0.5-year fixed3.64%Apply Marathon Mortgage Corp0.5-year fixed3.64%Apply 
Desjardins5-year variable3.70%Apply 
TD Canada Trust3-year variable3.97%Apply Rates illustrative; your file (credit, income, LTV) sets your personalized rate. See all Ontario rates →
Financing a $688,253 home in Ottawa
At this price Ottawa buyers can take the insured route: only the slice above $500,000 needs 10% down, which keeps the minimum near 6% of the price. Saving to 20% would take another $93,825 and removes the $25,777 premium.
On the 20%-down loan, variable is $206 a month cheaper than fixed today.
| At $688,253 | Minimum down | 20% down |
|---|---|---|
| Down payment | $43,826 | $137,651 |
| CMHC premium | $25,777 | None |
| Mortgage | $670,204 | $550,602 |
| Monthly, 5-yr fixed 4.14% | $3,576 | $2,938 |
| Monthly, 5-yr variable 3.44% | $3,325 | $2,732 |
| Stress-test payment at 6.14% | $4,344 | $3,569 |
25-year amortization, Canadian semi-annual compounding, best rates on today’s board. The stress test qualifies you at the greater of the contract rate plus 2 points or 5.25%. Illustrative, O.A.C. Model your own numbers in the payment calculator.
Land transfer tax on an Ottawa purchase
Ottawa is outside the City of Toronto, so only Ontario's land transfer tax applies — $10,240 on a $688,253 purchase.
At this price the first-time-buyer refund of up to $4,000 covers 39% of it, leaving $6,240 to pay.
All told, the minimum cash to close at this price — before legal fees, title insurance and adjustments — is about $54,066. Check other prices in the land transfer tax calculator.
The Ottawa market behind your rate
The $688,253 figure is Ottawa’s average price for August 2026 (the latest we have sourced), from Ottawa average residential sale price, Ottawa Real Estate Board.
Our Ottawa guide works through the 3 questions that decide most files here:
- Federal employment is easy to underwrite — until the appointment type isn't permanent. Ottawa's large federal workforce gives lenders exactly what they like: stable, documentable, verifiable income.
- One land transfer tax in Ottawa, a different tax across the river. Ottawa charges no municipal land transfer tax.
- An illustrative Ottawa file: the letter of employment that raised a question. This is an illustrative composite built from the rules above — not a specific client, and not a guaranteed outcome.
How Ottawa neighbourhoods change the file
The 7 pockets below mix freehold and condo stock, and each one triggers a different underwriting rule.
Centretown
High-rise condo and older converted stockCondo files are underwritten with the corporation — reserve-fund adequacy, special assessments and rental share each move the lender list. Older converted houses nearby raise unregistered-conversion risk on the appraisal.
Westboro
Infill detached and newer low-rise condoHeavy teardown-and-rebuild activity puts original bungalows beside new custom builds, which makes comparables genuinely hard and raises the cost of waiving a financing condition. A teardown purchase is a construction file.
Glebe
Century detached and semi, heritage characterCharacter stock with a restricted comparable set and long owner tenure, so refinance and HELOC work is common here. Values in parts of the pocket clear the $1.5M insured ceiling, where 20% down becomes the legal minimum.
Barrhaven
Newer detached and townhouse subdivisionOne of the city's largest recent build-outs. Builder purchases dominate, and the rate hold has to reach the final closing date rather than the offer date.
Kanata
Planned subdivision beside the technology employment beltUniform 1980s–2000s stock with clean comparables, and a rental market fed by the technology employers along the March Road corridor.
Orléans
Suburban detached and townhouse, francophone east endBroad, consistently insurable suburban stock. Secondary suites are common in the newer sections and the rent only counts once the suite is legal and permitted.
Stittsville
Newer detached subdivision on the western edgeRecent build-out that finances conventionally, with rural-edge properties just beyond it where well and septic confirmations become funding conditions.
This page is the rate-shopping side. For pre-approval strategy, document help and a dedicated advisor, see our Ottawa mortgage broker page.
