Fixed Rate Mortgages in Ontario

In Ontario, many homes are commonly purchased with the help of fixed rate mortgages. Fixed rate mortgages are sometimes referred to as a “vanilla wafer”. Fixed rate mortgages are extremely popular for purchasing homes due to the nature of being fully amortizing mortgages where the interest rate on the note remains the same throughout the term of the loan. Although fixed rate mortgages are generally more expensive than regular adjustable rate mortgages, they are more reliable and consistent over time due to the effects of inflation. With that being said, if you are interested in a fixed rate mortgage, Smarter Loans is able to help you acquire one in an efficient manner.

In Ontario, more homes are being developed every day and the communities are expanding to be more robust than ever before. With that, fixed rate mortgages are becoming more popular than ever, and the application process has been made simple by Smarter Loans.

We are committed to helping you find a mortgage company that you’ll be compatible with over the next 15 or 30 year term. A mortgage is a large commitment, so ensure that you compare terms, rates and offers below in the Smarter Loans directory before committing.

Once you’ve had a chance to look through all of the options, select the fixed rate mortgage that best serves your unique needs, then click “apply now” and a brief online application will pop up, where you’ll be prompted with questions that’ll ensure you meet the requirements for the fixed rate mortgage you desire. If the information laid out is overwhelming or confusing, you can also alternatively pre-apply with Smarter Loans and we’ll take on the heavy lifting by coordinating you with a fixed rate mortgage and provider on your behalf.

Ontario Datasheet

  • Average HI is $74,300.
  • As per the latest stats, an average consumer debt in Ontario amounted to $23,000.
  • Ontario’s key employment areas are management of companies and enterprises, agriculture, forestry, fishing and hunting, real estate and rental and leasing.
  • The employment rate in Ontario is 60%.
  • As per the most recent available information, an average inhabitant of Ontario makes $47,400 per month.
This data was researched in 2019 and uses various information resources, including Canada’s National Statistics Agency, etc., where the information can be as of an older date. The facts above may change as new information becomes available. We do our best to keep the information up to date.

Our loans marketplace is your one-stop source for locating reputable Fixed Rate Mortgage lenders in Ontario for your financing needs.

Explore our directory of Fixed Rate Mortgage companies to compare the best Fixed Rate Mortgage rates in Ontario.

Fixed Rate Mortgages are generally utilized for

  • offering downside protection during rate increases
  • obtaining an easy-to-understand loan repayment plan
  • flexible repayment terms (up to 30 years)
  • buying a house
  • having a stable loan option if the objective is to reside in the property for a long period of time (i.e. multiple economic cycles)

Elite Trusted Lenders

These companies are recognized for their excellent service, product offering and financial literacy education for all Canadians.