Best 10-year fixed mortgage rates in Ontario.
Today’s best 10-year fixed rate in Ontario is 5.34% — about $3,835/month on a $797,486 home with 20% down. A 10-year fixed is the longest lock in Canada: a decade of payment certainty for the truly rate-averse.
Who has the best 10-year fixed rate in Ontario?
TD Canada Trust, at 5.34%. The lowest rates are usually insured pricing.
Insured vs uninsured: the lowest 10-year fixed rates are usually insured pricing: a purchase with less than 20% down, backed by CMHC, Sagen or Canada Guaranty. Uninsured files (20%+ down, homes over $1.5M, refinances) typically price higher. APR is shown only where the lender publishes one that differs from the rate. Rates illustrative; your file (credit, income, LTV) sets your personalized rate. See all Ontario rates →
What would my payment be?
About $3,835/month. That’s Ontario’s average price of $797,486 with 20% down ($159,497), a $637,989 mortgage at today’s best 10-year fixed rate of 5.34%, over 25 years with Canadian semi-annual compounding. That payment is locked for the full term. Model your own price in the payment calculator.
| Term | Best rate | Est. monthly payment* |
|---|---|---|
| 5-Year Fixed | 4.14% | $3,405/mo |
| 5-Year VariableLowest | 3.00% | $3,019/mo |
| 3-Year Fixed | 3.99% | $3,352/mo |
| 3-Year Variable | 3.55% | $3,202/mo |
| 2-Year Fixed | 3.99% | $3,352/mo |
| 1-Year Fixed | 4.19% | $3,422/mo |
| 4-Year Fixed | 4.14% | $3,405/mo |
| 7-Year Fixed | 4.49% | $3,528/mo |
| 10-Year Fixed | 5.34% | $3,835/mo |
What does a 10-year fixed cost on a typical Ontario home?
With the minimum down ($54,749), you pay about $4,643/month and $361,161 in interest over the 10-year term. Lenders test your income at 7.34%.
See the full 10-year cost: down payment, insurance, interest and balance
Worked on Ontario’s average price of $797,486 (Ontario province-wide average residential price, Ontario Real Estate Association (via CREA)) at today’s best 10-year fixed rate of 5.34%, a 25-year amortization and Canadian semi-annual compounding. The term figures cover the 10-year term only.
| Minimum down (insured) | 20% down (uninsured) | |
|---|---|---|
| Down payment | $54,749 (6.9%) | $159,497 (20.0%) |
| Default insurance premium (added to the mortgage) | $29,709 | None |
| Ontario sales tax on the premium (cash at closing) | $2,377 | None |
| Mortgage amount | $772,446 | $637,989 |
| Monthly payment | $4,643/mo | $3,835/mo |
| Interest paid over the 10-year term | $361,161 | $298,295 |
| Principal repaid over the term | $196,029 | $161,907 |
| Balance owing at renewal (year 10) | $576,417 | $476,082 |
| Payment you must qualify at (7.34% stress-test rate) | $5,573/mo | $4,603/mo |
Ontario Land Transfer Tax (LTT) on this price: $12,425, or $8,425 for an eligible first-time buyer. Paid in cash at closing, on top of the down payment.
Qualifying: lenders test your income at 7.34% (the higher of your rate + 2% or 5.25%), not at 5.34%, so the qualifying payment above is the one your income must support, together with property tax, heating and other debts. Run your own numbers in the affordability calculator.
Is a 10-year fixed right for you in Ontario?
Who it suits: Borrowers who want to eliminate renewal and rate risk for ten years and are willing to pay for it, typically people in a forever home, on a fixed income, or who simply value certainty over saving a few basis points.
What drives the rate, and what breaking it costs
What drives the rate. Priced off the 10-year bond, it carries the highest premium of any term because the lender holds the rate longest. It only makes mathematical sense when long rates are unusually low relative to shorter terms.
Breaking it early. A key Canadian protection applies: after five years, federal law limits the prepayment penalty to three months' interest, so a 10-year fixed becomes far cheaper to break once you pass year five.
The rarest term, with a small but loyal niche. You pay the highest term premium for the longest possible certainty and post-year-five flexibility.
What’s specific to Ontario?
Ontario has the deepest lender competition in Canada — every monoline (MCAP, First National, RFA, B2B Bank), every Big-6, and 25+ credit unions actively bid. This typically produces the sharpest discount-rate offers in the country.
Ontario lenders and closing costs
Top Ontario lenders to compare. Ontario’s 10-year fixed pricing is shaped by a distinct lender mix: TD, RBC, Scotiabank, MCAP, First National and others all bid for files here, and we shop the whole panel on one application. Foreign-buyer rules: Non-Resident Speculation Tax (NRST) of 25% applies to foreign buyers province-wide; combined with the federal foreign-buyer ban (extended to 2027), foreign purchases are largely paused.
Closing costs. On top of the rate, budget for ontario land transfer tax (ltt) — tiered tax of 0.5%–2.5% on purchase price, calculated at closing on the entire amount. First-time buyers can claim up to $4,000 in Ontario LTT rebate; Toronto purchases stack an additional municipal $4,475 FTHB rebate. Run the full number in our Ontario land transfer tax calculator.
Why get your Ontario 10-year fixed rate through a broker?
Because 100+ lenders compete for your file instead of one. We can help you save money.
100+ lenders compete, not one
An Ontario bank shows you one 10-year fixed rate sheet. We put your file in front of 100+ lenders, including TD and RBC.
Broker pricing
The rate brokers get is typically 15-30 bps below a bank's posted rate. You can't get it at a branch.
Built for Ontario
Ontario has the deepest lender competition in Canada — every monoline (MCAP, First National, RFA, B2B Bank), every Big-6, and 25+ credit unions actively bid. Land transfer tax, rebates and local lender fit are built in.
Your rate held 90-120 days
A pre-approval locks your 10-year fixed rate while you shop, and many lenders honour a drop before you close.
No credit pull to start
We shop your Ontario 10-year fixed rate and pre-qualify you without a hard credit check. FSRA-licensed advice in 15+ languages.
Bring us a written offer from a big bank. We’ll try to beat it. If we can’t, we pay you $500. Conditions apply. See the conditions
Whatever your situation in Ontario
First home, renewal, refinance, self-employed or bruised credit: there’s a 10-year fixed path for your file, with the same 100+ lender network.
First-time buyers
5% down to your first Ontario home, with FHSA + RRSP HBP optimization.
Refinancing
Tap your Ontario home equity for renovations, debt consolidation, or investing.
Renewing
Don't auto-renew. Compare your bank's offer against the market.
Self-employed
Business-for-self files priced right, with A-lender, alt-A and private compared.
Bruised credit
B-lender and private paths now, with a mapped exit back to A-pricing.
New to Canada
Newcomer programs at the big banks; international credit accepted.
Ontario 10-year fixed rates — FAQ
What is the best 10-year fixed mortgage rate in Ontario right now?
The best 10-year fixed rate in our 100+ lender network for Ontario is approximately 5.34% as of Oct 24, 2026, which is about $3,835/month on the Ontario average price of $797,486 with 20% down over 25 years. Your personalized Ontario rate depends on your file — income, credit, loan-to-value, and property type. We shop every lender on one application to find your lowest.
Are Ontario 10-year fixed rates different from the rest of Canada?
The headline rate is set nationally, but what you can actually get in Ontario differs: the provincial lender mix, Financial Services Regulatory Authority (FSRA) regulation, and local credit unions all shape pricing and qualification. Ontario has the deepest lender competition in Canada — every monoline (MCAP, First National, RFA, B2B Bank), every Big-6, and 25+ credit unions actively bid. This typically produces the sharpest discount-rate offers in the country.
Should I choose a 10-year fixed in Ontario?
Borrowers who want to eliminate renewal and rate risk for ten years and are willing to pay for it, typically people in a forever home, on a fixed income, or who simply value certainty over saving a few basis points. You pay the highest term premium for the longest possible certainty and post-year-five flexibility.
How does breaking a 10-year fixed mortgage work?
A key Canadian protection applies: after five years, federal law limits the prepayment penalty to three months' interest, so a 10-year fixed becomes far cheaper to break once you pass year five.
What land transfer tax will I pay in Ontario?
Tiered tax of 0.5%–2.5% on purchase price, calculated at closing on the entire amount. First-time buyers can claim up to $4,000 in Ontario LTT rebate; Toronto purchases stack an additional municipal $4,475 FTHB rebate. Toronto purchases pay BOTH Ontario LTT AND Toronto Municipal LTT. Below $3 million the two schedules match, so the tax is effectively doubled. Above $3 million they diverge sharply: since 1 April 2026 the municipal tax runs its own luxury brackets — 4.4% from $3M, 5.45% from $4M, 6.5% from $5M, 7.55% from $10M and 8.6% above $20M — against a flat provincial 2.5%. On a $5 million purchase that is about $160,000 municipal against $111,000 provincial.
Can I lock this Ontario rate before I buy?
Yes. Most lenders offer a 90-120 day rate hold on a pre-approval, so a rising market can't catch you (and many honour a lower rate if they drop). Start a pre-approval (no bureau pull to begin) and we'll hold your best Ontario 10-year fixed rate.
Lock your best Ontario 10-year fixed rate.
Free, no credit pull to begin. We shop 100+ lenders and hold your rate while you shop for the home.