Rate report card · Ontario
4.89% · insurable 5-year fixed renewal · $380,000 · 20-yr amortization
Graded Nov 1, 2026
0.55 points above the best published insurable 5-year fixed renewal rate in Ontario
4.89% is 0.55 points above the lowest rate listed today (4.34%). On $380,000 that is about $9,791 more interest over the 5-year term.
- A+≤ 4.34%
- Ato 4.44%
- Bto 4.59%
- Cto 4.84%
- Dto 5.19%
- Fover 5.19%
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 | 4.89% | What you entered. |
| Best today | 4.34% | Lowest of 29 insurable 5-year fixed rates listed for Ontario on WOWA.ca (listings updated to October 30, 2026). Third-lowest 4.59%, median 5.04%. Source |
| Big-bank advertised | 5.14%+ | 5.14% (National Bank) to 5.39% (TD), as listed for the same cell. Advertised special rates, not posted rates. |
| Typical (estimated) | 4.83% | Effective rate on new uninsured fixed mortgages, 5 years and over: 4.58% 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 · Get a second quote
Get a second quote before you sign. The gap is worth about $9,791 over the 5-year term.
What to ask for
Hi, I've been offered 4.89% on a 5-year fixed renewal of $380,000. The lowest published insurable rate for the same term in Ontario is 4.34% today (wowa.ca, Oct 30, 2026). Big banks advertise from 5.14% for the same term. I'd like to stay with you. Can you offer 4.44% or better? Please also send me the prepayment privileges and how the prepayment penalty is calculated, in writing.
- The lowest listed 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 rates published for the same cell; you may not qualify for them. Confirm every rate and term in writing.