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Looking for the best mortgage rates? Look no further!  Dan Faubert is a trusted Ottawa Mortgage Broker who can offer the BEST mortgage rates in Ottawa and Toronto!

Mortgage Rates updated Nov 2nd, 2018

Term Our Best Rates
6 Months 3.30 % 120 day
1 Year Closed 3.29 % 120 day 
2 Year Closed 3.39 % 120 day (insured)
3 Year Closed 3.49 % 120 day (insured)
4 Year Closed 3.49 % 120 day (insured)
5 Year Closed 3.55 % 120 day (insured) or 3.59% for insurable
7 Year Closed 3.59 % 120 day (insured)
10 Year Closed 3.94 % 120 day (insured)
Closed Variable *2.95%% (Prime -1.00) Insured 120 day rate hold
Best 5 yr fixed rate for refinancing is 3.64%(equity take out), max 80% LTV.
Best 5 yr fixed rate for a rental property is 3.89%, max 75% LTV, 4.09% for 80% LTV.
Rates are subject to change.
Note, when qualifying for a mortgage, due to new government regulations, if you have less than 20% down payment, you must now “qualify” using a government benchmark rate of 5.34% today. This is regardless of what mortgage term you are taking, and or what the actual contract rate you are getting from the lender.
Bank Prime Lending Rate today is 3.95%
As of Jan 1st, 2018, if you have more than 20% down payment, you will have to qualify at the face rate of your mortgage PLUS 2%. So for example, if you are getting 3.44% 5 yr fixed, you will have to qualify at 5.44%.


  • 5 yr fixed 3.39% closing within 90 days, insured only.
  • 5 yr variable, 2.71% Insured only, 90 day rate hold. Has a restrictive closed clause.
  • Pre-approvals- 120 day rate guarantee- 5 yr 3.74%(insured deals only) 3.99% uninsured
  • 3 yr 3.29%(insured deals only) must close with 45 days(purchase only

Mortgage rates can be held for 4 months, depending on the lender being used. If rates drop, your rate will be lowered up to two days prior to closing. If rates increase, no worries, your rate is guaranteed to be no higher than originally set.

The above rates are available to credit qualified borrowers. Rates subject to change.

Individuals that do not qualify normally may still be financed, but must call for a quote on rate and fees based on their particular circumstance.