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Canadian mortgage rates,
explained plainly.

Editorial coverage of how Canadian mortgages work — fixed vs. variable, insured vs. uninsured, the stress test, and what brokers do for you. When real rates appear here, they’ll be cited to lender filings, not made up.

What to know
Fixed vs. variable
Fixed locks the rate for a term (often 5 years). Variable moves with the lender’s prime rate. Neither is universally better.
Insured vs. uninsured
Down payment under 20% requires default insurance (CMHC, Sagen, Canada Guaranty). Insured mortgages are typically priced below uninsured because lender risk is lower.
Stress test
You must qualify at the greater of (contract rate + 2%) or 5.25%. Sets the size of mortgage you can carry.
Broker vs. bank
A mortgage broker shops your file across multiple lenders. We refer to a registered partner under MBLAA referral exemption.

Educational content only. TopRates.ca is not a licensed mortgage broker under the Mortgage Brokerages, Lenders and Administrators Act, 2006 (MBLAA). For personal mortgage advice, consult a licensed mortgage agent or broker.

Rate data

Rates coming at launch

Will cite lender filings + posted rates

We’re standing up the rate-data feed in partnership with a registered mortgage brokerage. Until that’s in place, this page is editorial: how mortgages work, how to evaluate a broker’s offer, and what the stress test actually measures. When the table goes live, every rate will be sourced and timestamped.

Notify me when rates are live
Calculators

Run the numbers before you sign.

Mortgage payment

What will your monthly payment be at a given rate, amortization, and balance?

Open calculator →

Affordability

How much house can you qualify for, given income, debts, and the stress test?

Open calculator →

CMHC insurance

Estimate the default-insurance premium on a high-ratio mortgage.

Open calculator →

Land transfer tax

Provincial and municipal land transfer taxes owed on closing day.

Open calculator →
How referrals work

From your situation to a registered broker.

Mortgage referrals on TopRates.ca are made under Ontario’s MBLAA referral arrangement exemption to a registered mortgage brokerage partner. We are not a registered mortgage brokerage; we do not provide mortgage advice.

01
Tell us about you

A short form: income, down payment, target neighbourhood. No credit pull yet.

02
See illustrative options

We outline the rate categories you can expect to qualify for and the trade-offs (fixed vs. variable, term length, lender type).

03
Referral to a broker

If you want to proceed, we refer you to a registered mortgage brokerage partner under Ontario MBLAA referral exemption. The broker handles the file from there.

04
Compare & choose

Your broker shops the file across multiple lenders and presents the options. The choice of lender and product stays with you.

Compare your options.

Mortgage rate-data and broker matching launch later this year. Join the waitlist for first-look access and the editorial guide series.

Join the waitlist

Mortgage question?

Send us a note and we’ll be in touch within one business day. Mortgage inquiries are referred to a registered partner under MBLAA referral exemption.