5-year variable mortgage rates in Ontario
The lowest published rate among 68 matching products is 3.41%, from nesto.
- Published for insured or insurable mortgages (23 products): lowest 3.41% from nesto; half are at or below 3.75%.
- All other published rates (45 products): lowest 3.64% from Meridian Credit Union; half are at or below 4.45%.
Lowest: 3.41%Half are at or below 4.15%Highest: 7.75%
Big banks
The lowest offer each bank publishes for this search, for insured mortgages (usually less than 20% down) and for others, and its posted rate, in its own wording. Scotiabank is not listed: its public page does not tie each rate to a term and product in a way we can check.
| Bank | Insured offer | Other offer | Posted rate | Checked |
|---|---|---|---|---|
| RBC | RBC Prime − 0.600% (3.850%)5 Year Variable Closed — High Ratio | RBC Prime − 0.300% (4.150%)5 Year Variable Closed — Special, 25 years or less | RBC Prime + 0.00% = 4.45%5 Year Variable Closed — Posted, 25 years or less | October 19, 2026 |
| TD | Not published | TD Mortgage Prime − 0.31% = 4.29%5 Year Variable Closed — Special | Not published | October 19, 2026 |
| BMO | Not published | 4.10%BMO Prime − 0.35% (APR 4.12%)5 Year Variable Closed Special | Not published | October 16, 2026 |
| CIBC | 4.05%special5 Year Variable Flex — High Ratio Special | 4.20%special5 Year Variable Flex — Special | 4.45%posted5 Year Variable Flex — Posted | October 16, 2026 |
68 products from 37 lenders. One record per lender is shown, lowest displayed rate first. Latest check October 19, 2026.
- nesto
5 Year Insured Variable Mortgage · 5 years · First mortgage · LTV not stated · Fee not published
Owner-occupied residential; default-insured criteria apply
3.41%5-year insured variableChecked October 15, 2026Lender source opens in a new tab - Meridian Credit Union
5 Year Closed Variable High Ratio · 5 years · First · Up to 95% LTV · Fee wording published
Insured high-ratio mortgage
3.44%Prime − 1.01%Checked October 15, 2026Lender source opens in a new tab - Mainstreet Credit Union
5 Year Closed High-Ratio Variable · 5 years · First mortgage · LTV not stated · Fee not published
Owner-occupied residential; default-insured/high-ratio criteria apply
3.45%5-year closed high-ratio variableChecked October 15, 2026Lender source opens in a new tab - Marathon Mortgage
5 Year Adjustable Rate · 5 years · First · Up to 95% LTV · No lender fee stated
Insured or insurable purchase or switch
Prime − 0.95%Checked October 15, 2026Lender source opens in a new tab - Equitable Bank
5 Year EQB Evolution Suite Adjustable · 5 years · First mortgage · LTV not stated · Fee wording published
Residential; borrower-paid mortgage insurance required for this rate; lender qualification criteria apply
3.60% interest3.650% APR · Equitable Prime − 0.85%Checked October 19, 2026Lender source opens in a new tab - Northern Birch Credit Union
5 Year High-Ratio Insured Variable Special · 5 years · First mortgage · LTV not stated · Fee not published
Owner-occupied residential property; mortgage-default-insured or high-ratio criteria apply
3.65%5-year high-ratio insured variableChecked October 19, 2026Lender source opens in a new tab - Pine
5 Year Insured Adjustable · 5 years · First mortgage · LTV not stated · Fee not published
Owner-occupied residential; default-insured/high-ratio criteria apply
3.65%5-year insured adjustableChecked October 19, 2026Lender source opens in a new tab - Alterna Bank
5 Year Smart Start High-Ratio Variable Closed · 5 years · First mortgage · LTV not stated · Fee wording published
Owner-occupied residential; default-insured/high-ratio criteria apply
3.70% interest3.74% APRChecked October 19, 2026Lender source opens in a new tab - Alterna Savings
5 Year Smart Start High-Ratio Variable Closed · 5 years · First mortgage · LTV not stated · Fee wording published
Owner-occupied residential; default-insured/high-ratio criteria apply
3.70% interest3.74% APRChecked October 19, 2026Lender source opens in a new tab - First National Financial LP
Adjustable — Insured · 5 years · First · Up to 95% LTV · No lender fee stated
Insured single-family residential mortgage
Prime - 0.75% (3.70%)Checked October 15, 2026Lender source opens in a new tab
What this list shows
A five-year variable mortgage has a rate that moves with the lender’s prime rate during a five-year term. Lenders publish it as prime plus or minus a spread. This directory keeps that wording and shows the resulting percentage only where the lender states it.
Some lenders call the product adjustable: the payment changes whenever prime changes. With others the payment stays the same and the share of it that goes to interest changes instead. The product name and the lender’s source page say which.
This list gathers every record published as a variable or adjustable rate with a 60-month term. The lowest numbers are usually insured rates for purchases with less than 20% down. Compare spreads only between records that use the same prime rate, because lenders set their own prime and the figures are not always equal.
Records are ordered by the smallest displayed rate so the list is easy to scan. That order is not a ranking of which mortgage suits you, and it says nothing about which lender would approve an application.
Published rates only, in each lender's own wording. This is not a recommendation or an approval. Rates can change after the date shown; open the lender's source and ask for a current quote before acting.