The Best 5 Year Fixed Closed Mortgage Rates
The Best Mortgage Rates in Ontario
|5 Year Fixed Closed View All »||2.59% TD Canada Trust||2.39% Mortgage Alliance - Peter Ricketts||2.49% BMO Bank of Montreal|
Ready to find your best mortgage rate?
To get started, tell us a bit about your location and borrowing needs - and we'll do the rest! Your personalized results will include the best rates from lenders and mortgage brokers, right in your region. Simply pick a product you like, and we'll put you in touch for more info by email, website or phone - no obligation or purchase required.
What is a mortgage broker - and why would I work with one instead of a bank?
Think of a mortgage broker as your personal mortgage shopper - they've got access to a number of rates offered by multiple lenders, and do the legwork to connect you with your best match. Brokers work with your unique financial institution, and will help negotiate the best rate on your behalf - best of all, their services are absolutely free!
The Most Popular Rate in Canada
A five year fixed closed mortgage rate is the preferred rate of most Canadians. It's offered by all the major banks and mortgage brokers. A fixed closed rate guarantees that the rate will stay the same for five years, and that the conditions you agree to will not change. This makes the five-year fixed a relatively stress-free commitment for borrowers and lenders.
In a Mortgage Battle, Consumers Are the Winners
When you're shopping for a mortgage, the five-year fixed closed rates are a good place to start, as you'll see the widest selection of options. It's also a key battleground for "mortgage wars" with banks and brokers dramatically dropping their five-year fixed rates to entice new customers. Be sure to sign up for our Rate Alert to keep tabs on the action.
"I See the Banks, Who Are These Other Guys?"
If you're new to the mortgage game, you're probably seeing a bunch of lenders you've never seen before. These lenders are mortgage brokers, who offer a range of rates from various banks, credit unions, and other other lenders. Thanks to their versatility, brokers are often able to provide a much lower rate than the banks.