Mortgage Rates in Ottawa, ON
Compare live mortgage rates from 50+ lenders serving Ottawa. Free quotes from licensed ON mortgage brokers — no credit check required.
Current Best Rate
4.89%
5-Year Fixed
Avg Home Price
$650,000
Market
Balanced MarketGet Ottawa Mortgage Quotes
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Current Ottawa Mortgage Rates
| Rate Type | Best Rate |
|---|---|
| 5-Year Fixed | 4.89% |
| 5-Year Variable | 5.45% |
| 3-Year Fixed | 4.74% |
| 2-Year Fixed | 5.10% |
| 1-Year Fixed | 5.65% |
| HELOC | 6.20% |
*Based on $650,000 home price, 20% down ($520,000 mortgage), 25-year amortization, Canadian semi-annual compounding. Last updated: May 25, 2026. Best rates available to qualified borrowers with 20%+ down payment.
The Ottawa Mortgage Market
Ottawa's mortgage market is defined by stability — Canada's capital city benefits from a massive federal public service employment base that insulates the market from private sector economic cycles. With average home prices of $650,000 and current 5-year fixed rates of 4.89%, qualified Ottawa buyers with 20% down can expect monthly payments of approximately $3,041/month.
Ottawa's balanced market conditions reflect steady demand from federal employees, diplomats, and the growing tech sector (home to Shopify, Nokia, and hundreds of federal IT contractors). First-time buyers in Ottawa benefit from Ontario's land transfer tax rebate of up to $4,000, and the federal FHSA allows accumulating up to $40,000 tax-free for a down payment.
Popular Ottawa neighbourhoods for mortgage-financed purchases include Westboro, Hintonburg, and Centretown for urban buyers, and Barrhaven, Kanata, and Orleans for families seeking more space.
Ottawa's bilingual character means French-language mortgage services are widely available, particularly important for buyers in Gatineau who commute across the river. Ottawa's stable employment base means mortgage qualification is often more straightforward than in markets with more volatile private sector employment.