3-Year Fixed Mortgage Rates Ontario — August 2026

Quick answer: Researched August 24, 2026 from WOWA’s August 21, 2026 Ontario rate table (selected underlying records updated August 21, 2026): the advertised 3-year fixed benchmark is 3.89%, the lowest rate observed in WOWA’s Ontario rate table for an Ontario owner-occupied insured/high-ratio first-mortgage purchase with less than 20% down and without a longer amortization. OAC; borrower, property, lender, insurer, closing timing, and offer availability restrictions apply.

Insured-purchase benchmark snapshot

Product	Public benchmark	Illustrative payment*	Pricing basis
3-year fixed	3.89%	$3,641/mo	Insured Ontario purchase
5-year fixed	3.94%	$3,659/mo	Insured Ontario purchase
5-year variable	3.35%	$3,440/mo initially	Prime 4.45% − 1.10%

*Illustrative monthly payments use a $700,000 mortgage, 25-year amortization, and Canadian semi-annual compounding. These are the lowest rates observed in WOWA’s Ontario rate table for an owner-occupied Ontario insured/high-ratio first-mortgage purchase with less than 20% down and no longer amortization. Researched August 24, 2026 from WOWA’s August 21, 2026 table; selected underlying records updated August 21, 2026. OAC; borrower, property, lender, insurer, closing timing, and offer availability restrictions apply.

Research and eligibility

Mortgage Wave researched the lowest rates observed in WOWA’s Ontario rate table on August 24, 2026 from WOWA’s August 21, 2026 table; its selected underlying records updated August 21, 2026. They are not current renewal, refinance, uninsured, or investment-property offers.

The advertised benchmark is limited to an Ontario owner-occupied insured/high-ratio first-mortgage purchase with less than 20% down and without a longer amortization. Approval and the rate actually available depend on the borrower, property, lender, insurer, closing timing, and offer availability. OAC. Rates can change without notice.

How to compare this rate properly

Confirm that your transaction is an insured owner-occupied purchase.
Confirm the lender and insurer accept the borrower, property, down payment, and amortization.
Use the Mortgage Wave calculator to test payment comfort.
Get a personalized quote for live eligibility and availability.

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FAQs

The advertised benchmark is 3.89%, the lowest rate observed in WOWA’s Ontario rate table for an Ontario owner-occupied insured/high-ratio first-mortgage purchase with less than 20% down and without a longer amortization. Mortgage Wave researched it August 24, 2026 from WOWA’s August 21, 2026 table, whose selected underlying records updated August 21, 2026. OAC; borrower, property, lender, insurer, closing timing, and offer availability restrictions apply.

Mortgage Wave researched the benchmark on August 24, 2026 from WOWA’s August 21, 2026 table, whose selected underlying records updated August 21, 2026.

No. This is an insured-purchase benchmark, not a current renewal, refinance, uninsured, or investment-property offer. Request a personalized quote for those products.

Advertised insured-purchase benchmarks only. OAC. Rates can change without notice and are not guarantees of approval or lender availability.