Toronto Mortgage Rates Today — October 2026

Quick answer: For a qualifying Toronto purchase, the lowest rates observed in a review of selected publicly advertised Ontario rate tables on October 19, 2026 are 3-year fixed 3.99%, 5-year fixed 4.19%, and 5-year variable 3.25% initially (adjusts with lender prime). They are not renewal, refinance, or investment-property offers.

Insured-purchase benchmark snapshot — researched October 19, 2026

Product	Observed rate	Benchmark context
3-year fixed	3.99% · Lowest rate observed	Insured/high-ratio purchase only
5-year fixed	4.19% · Lowest rate observed	Insured/high-ratio purchase only
5-year variable	3.25% initially (adjusts with lender prime) · Lowest rate observed	Insured/high-ratio purchase only

Scope and source: The figures are the lowest rates observed in a review of selected publicly advertised Ontario rate tables performed October 19, 2026; the review is not an exhaustive market survey. These initially advertised offers are limited to Ontario owner-occupied insured/high-ratio first-mortgage purchases with less than 20% down and no longer amortization. OAC; borrower, credit, property, lender, insurer, membership, closing timing, and availability restrictions apply. Renewal, refinance, and investment-property rates require a personalized quote.

How Toronto borrowers should compare rates

Use the insured-purchase benchmarks only as a starting point. Mortgage Wave helps Toronto borrowers compare personalized lender options based on the full application.

Common Toronto mortgage situations

Toronto borrowers often compare purchase pre-approval, renewal offers, refinancing for debt consolidation or renovations, move-up financing, and investment-property financing. The published trio applies only to qualifying owner-occupied insured/high-ratio purchases; renewal, refinance, investment-property, uninsured, and other scenarios require a personalized quote.

How to compare a personalized quote

Confirm whether the mortgage is insured, insurable, or uninsured.
Compare term, portability, penalty calculations, amortization, and closing timing.
Use the Mortgage Wave calculator to test payment comfort.
Confirm live lender and insurer availability before relying on any public benchmark.

Related MortgageWave resources

Ontario rates hub

Compare all current researched best rates.

Payment calculator

Estimate monthly cost using Canadian compounding.

Renewal help

Compare your bank renewal before signing.

Personalized quote

Confirm live lender availability.

FAQs

The lowest rates observed in a review of selected publicly advertised Ontario rate tables on October 19, 2026 are 3-year fixed 3.99%, 5-year fixed 4.19%, and 5-year variable 3.25% initially (adjusts with lender prime); the review is not an exhaustive market survey. They are limited to Ontario owner-occupied insured/high-ratio first-mortgage purchases with less than 20% down and no longer amortization. OAC; borrower, credit, property, lender, insurer, membership, closing timing, and availability restrictions apply.

Yes. The insured-purchase benchmarks above are not renewal offers; Mortgage Wave can compare personalized Toronto renewal options before you accept your bank’s offer.

Core lender pricing is often provincial or national, but property type, borrower profile, and lender appetite can affect the rate available.

The displayed rates are insured-purchase benchmarks only, subject to change without notice, OAC, and not a guarantee of approval or lender or insurer availability.