Rate report card · Ontario
4.99% · insured 5-year fixed · $500,000 · 25-yr amortization
Graded Nov 1, 2026
0.40 points above the best published insured 5-year fixed rate in Ontario
4.99% is 0.40 points above the best rate lenders publish (4.59%). On $500,000 that is about $9,599 more interest over the 5-year term.
- A+≤ 4.59%
- Ato 4.69%
- Bto 4.84%
- Cto 5.09%
- Dto 5.44%
- Fover 5.44%
Bands are measured from today's lowest published rate for the same term, type, insurance class and province.
| Yardstick | Rate | Where it comes from |
|---|---|---|
| Your rate | 4.99% | What you entered. |
| Best today | 4.59% | Best published rate among 10 lenders checked for Ontario: Meridian Credit Union's own insured 5-year fixed rate, read on November 1, 2026. Third-lowest 4.69%, median 4.99%. Source |
| Big-bank advertised | 4.69%+ | 4.69% (National Bank) to 5.39% (TD), as published on each bank's own site for the same mortgage. Special (advertised) rates, not posted rates. |
| Typical (estimated) | 4.37% | Effective rate on new insured fixed mortgages, 5 years and over: 4.12% for August 2026 (Bank of Canada), moved +0.25 for market moves since. Estimate. Source |
| Big-bank posted | 6.19% | Posted conventional mortgage rate, 5-year, October 28, 2026 (Bank of Canada). List price; many lenders use it to calculate penalties. |
Mitey's margin note · Needs another look
Room to negotiate. Show the lender today's best published rate and ask them to match or explain the difference.
What to ask for
Hi, I've been offered 4.99% on a 5-year fixed mortgage of $500,000. The lowest published insured rate for the same term in Ontario is 4.59% today (meridiancu.ca, Nov 1, 2026). Big banks advertise from 4.69% for the same term. I'd like to stay with you. Can you offer 4.69% or better? Please also send me the prepayment privileges and how the prepayment penalty is calculated, in writing.
- The best published rate can come with conditions: a short rate hold, a quick closing date, a limited-feature product or a stricter penalty. Compare the whole offer, not just the rate.
- The 5-year Government of Canada yield moved up 0.25 points between August 2026 (3.33%) and October 29, 2026 (3.58%). Fixed mortgage rates tend to follow these yields, so the benchmark is moved by the same amount. This is an estimate.
Educational estimate, not advice or an offer. Best-today figures are the lowest special rates lenders publish on their own sites for the same cell; you may not qualify for them. Confirm every rate and term in writing.
