Best Mortgage Rates
Toronto 2026
Compare fixed vs variable rates from 30+ lenders — banks, credit unions, and monoline lenders. Sam Sethi, Mortgage Agent Level 2, shops them all so you don't have to.
2.25%
Bank of Canada Rate
Held Mar 18, 2026
4.09%
Best 5-Yr Fixed
Broker exclusive
3.35%
Best 5-Yr Variable
Prime - 1.10%
6.09%
Stress Test Rate
Contract + 2%
Current Mortgage Rates — Toronto & GTA
Bank posted rates vs broker rates vs Sam's exclusive rates
| Term | Type | Bank Best Rate | Broker Best Rate | Sam's Rate | Trend | |
|---|---|---|---|---|---|---|
1-Year Fixed | Fixed | 5.84% | 5.29% | 5.09%Save 0.75% | Get Rate | |
2-Year Fixed | Fixed | 5.09% | 4.69% | 4.49%Save 0.60% | Get Rate | |
3-Year FixedPopular | Fixed | 4.94% | 4.09% | 3.99%Save 0.95% | Get Rate | |
4-Year Fixed | Fixed | 4.84% | 4.19% | 4.09%Save 0.75% | Get Rate | |
5-Year FixedPopular | Fixed | 4.49% | 4.09% | 3.99%Save 0.50% | Get Rate | |
7-Year Fixed | Fixed | 5.29% | 4.69% | 4.59%Save 0.70% | Get Rate | |
10-Year Fixed | Fixed | 5.69% | 5.09% | 4.99%Save 0.70% | Get Rate | |
3-Year Variable | Variable | 4.15% | 3.55% | 3.45%Save 0.70% | Get Rate | |
5-Year VariablePopular | Variable | 3.95% | 3.35% | 3.25%Save 0.70% | Get Rate |
* Rates shown are for insured mortgages with 25-year amortization. Rates subject to change without notice. OAC. Last updated: April 2, 2026. Sam's rates are exclusive broker rates not available directly from lenders.
Rate Savings Example
On a $700,000 mortgage, 5-year fixed:
Bank Rate (4.89% — TD)
$4,047/mo
$242,820 interest over 5 yrs
Sam's Rate (4.09%)
$3,697/mo
$221,820 interest over 5 yrs
Lender Comparison
Banks vs Brokers vs Private Lenders
See exactly why working with Sam consistently beats going directly to your bank
TD Bank
Big 6 Bank3-Yr Fixed
4.99%
5-Yr Fixed
4.89%
Variable
4.24%
Special discounted rate
RBC Royal Bank
Big 6 Bank3-Yr Fixed
4.94%
5-Yr Fixed
4.59%
Variable
3.95%
Special offer rate
BMO
Big 6 Bank3-Yr Fixed
5.04%
5-Yr Fixed
4.49%
Variable
4.15%
Smart Fixed rate
Scotiabank
Big 6 Bank3-Yr Fixed
5.09%
5-Yr Fixed
4.94%
Variable
4.90%
eHOME rate
CIBC
Big 6 Bank3-Yr Fixed
4.99%
5-Yr Fixed
4.66%
Variable
4.12%
Fixed closed rate
First National
Monoline Lender3-Yr Fixed
4.44%
5-Yr Fixed
4.14%
Variable
3.55%
Broker exclusive
MCAP
Monoline Lender3-Yr Fixed
4.49%
5-Yr Fixed
4.19%
Variable
3.60%
Broker exclusive
Merix Financial
Monoline Lender3-Yr Fixed
4.39%
5-Yr Fixed
4.09%
Variable
3.45%
Broker exclusive — lowest rate
Equitable Bank
B Lender3-Yr Fixed
5.74%
5-Yr Fixed
5.49%
Variable
5.45%
Alt-A programs
Home Trust
B Lender3-Yr Fixed
5.94%
5-Yr Fixed
5.69%
Variable
5.65%
Bruised credit OK
Why Monoline Lenders Offer Better Rates
Monoline lenders (First National, MCAP, Merix) only offer mortgages — no branches, no credit cards, no chequing accounts. Their lower overhead means they pass savings to borrowers. They're only accessible through licensed mortgage brokers like Sam. Your mortgage is still insured by CMHC and fully regulated by OSFI.
Fixed vs Variable Mortgage Rates — Which is Right for You?
Sam's analysis for Toronto buyers in 2026
Fixed Rate
Rate locked for entire term
Best for:
First-time buyers, tight budgets, those who value certainty, 2026 market conditions
Variable Rate
Rate moves with prime rate
Best for:
Experienced buyers, those expecting to sell/move within 2–3 years, rate-cut environments
People Also Ask
Mortgage Rate Questions — Answered
Get Today's Best Rate
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Sam shops 30+ lenders and presents you with the best options — free, no obligation, no credit check required to start.