Current Mortgage Rates
Rates as of August 18, 2026. Rates vary by down payment, amortization, property type and credit, and are subject to change without notice.
Mortgage rates change often and depend on your down payment, term and how your file qualifies — we don't publish specific rate numbers here since they'd be out of date almost immediately. Here's how the main rate and mortgage types differ:
5-Year Fixed
Your rate and payment stay the same for a five-year term — the most common term for Canadian mortgages.
5-Year Variable
Your rate moves with the lender's prime rate over a five-year term, so your payment can change during the term.
Insured
Applies when your down payment is under 20% and mortgage default insurance is required.
Insurable
A conventional mortgage that still meets insurer guidelines, which can open up additional lender options.
Conventional
A mortgage with 20% or more down, where default insurance isn't required.
Meet Your Mortgage Advisor
Anthony Krasno
Realtor®, Krasno Team — RE/MAX Realtron Realty Inc., Brokerage
Principal Broker, Estate Mortgage Group · FSRA Licence #13425
- Principal Broker at Estate Mortgage Group, FSRA Licence #13425
- Works directly with buyers across Newmarket, Barrie and York Region
- Local knowledge of the communities Estate Mortgage Group and the Krasno Team serve
647-575-2005 · Anthony@KrasnoTeam.com
Mortgages We've Helped Arrange
Anonymized examples for illustration. Every file is different, and results vary — nothing here is a promise of approval or terms for your situation.
Purchase price
$825,000
Mortgage
$660,000
Situation
First-time buyers, salaried income, 20% down
Outcome
Approved with a conventional lender; closed on schedule.
Purchase price
$1,150,000
Mortgage
$862,500
Situation
Self-employed buyer, two years of business income
Outcome
Approved after packaging business financials for the lender; closed on schedule.
Purchase price
$540,000
Mortgage
$513,000
Situation
First-time buyer, 5% down
Outcome
Approved as an insured mortgage; closed on schedule.
Mortgage Broker vs. Bank
| Bank | Mortgage Broker | |
|---|---|---|
| Lender options | One institution's own products | Multiple lenders your file can be submitted to |
| Who decides approval | The bank underwrites and decides | Each lender underwrites and decides independently |
| Point of contact | Bank representative | One broker throughout the process |
Lender options
Bank
One institution's own products
Mortgage Broker
Multiple lenders your file can be submitted to
Who decides approval
Bank
The bank underwrites and decides
Mortgage Broker
Each lender underwrites and decides independently
Point of contact
Bank
Bank representative
Mortgage Broker
One broker throughout the process
Why Work With a Broker?
Multiple lenders
Your file can be submitted to more than one lender instead of just one.
One application
Provide your information once instead of repeating it institution by institution.
Guidance through the process
Someone to walk you through each step, from application to closing.
Local knowledge
Familiarity with the communities Estate Mortgage Group works in.
Who We Help
Mortgage Calculator
Enter your own numbers to estimate a monthly payment. This is a general estimate, not a quote or approval.
Estimated monthly payment
$3,741
How the Process Works
- 1Tell us about your situation
- 2Review your options
- 3Choose your mortgage
- 4Complete the application
- 5Close
How Does a Mortgage Broker Work?
A mortgage broker doesn't lend money directly. Instead, a broker collects your income, credit and down payment information once, then submits your application to one or more lenders it identifies as a potential fit for your situation. Each lender reviews the file independently and decides whether to approve it and on what terms.
Brokers are typically compensated by the lender once a mortgage funds, which is why using a broker generally doesn't add a direct cost for the borrower — though it's worth asking about compensation as part of your conversation.