Best 4 Year Fixed Mortgage Rates


On this page, we review the best 4 year fixed mortgage rates Ontario and provide a quick review to help discover if there is an opportunity with this rate. Connect with Altrua today for more information, rate comparisons, and answers to your questions.

Quick Review of 4 Year Fixed Mortgage Rates Ontario


  • In 2023, the 4 year fixed mortgage rate is generally less popular in Ontario because it neither provides the shorter term renewal that a 2 or 3 year fixed rate mortgage does, but is often priced higher than a 5 year fixed rate.
  • However, the Ontario mortgage rate market is highly dynamic, and there are certain times when the four year fixed mortgage rates go on special. When the 4-year term can be secured notably lower than a 5 year or 3-year rate, then the 4-year is worth considering.
  • For example, at the time of writing, there is a conventional 4-year fixed mortgage rate on special with one of the large Ontario Credit Unions. The 4-year rate is 5.59%, whereas the conventional 5 year rate is typically 5.69% – 5.79%. So, in this specific case, the 4 year fixed presents a similar longer term benefit of a 5 year fixed predictability while offering a lower rate and the ability to renew sooner.
  • Connect with Altrua to discuss if there is an opportunity with the 4 year rate currently.

Current 4 Year Fixed Mortgage Rates in Ontario


Private: Template 4 Year Fixed

As of February 12, 2024

As of February 12, 2024

4 yr Fixed

Lender
Insured
Insurable
Uninsured
Inquire
  • Altrua Financial Mortgage Rates

    Altrua scans its database of 100+ for the best rates, then negotiates these rates even lower!

    5.24%

    Payment: $18,94/mo

    5.24%

    Payment: $18,94/mo

    5.39%

    Payment: $18,94/mo

  • TD

    5.82%

    Payment: $18,94/mo

    -

    Payment: -

    5.82%

    Payment: $18,94/mo

  • BMO

    5.41%

    Payment: $18,94/mo

    -

    Payment: -

    5.41%

    Payment: $18,94/mo

  • CIBC

    6.74%

    Payment: $18,94/mo

    -

    Payment: -

    6.74%

    Payment: $18,94/mo

  • RBC

    5.59%

    Payment: $18,94/mo

    -

    Payment: -

    5.59%

    Payment: $18,94/mo

  • Scotia

    6.74%

    Payment: $18,94/mo

    -

    Payment: -

    6.74%

    Payment: $18,94/mo

  • National Bank

    5.84%

    Payment: $18,94/mo

    5.94%

    Payment: $18,94/mo

    5.94%

    Payment: $18,94/mo

  • Manulife

    -

    Payment: -

    -

    Payment: -

    -

    Payment: -

  • Desjardins

    5.79%

    Payment: $18,94/mo

    5.79%

    Payment: $18,94/mo

    5.79%

    Payment: $18,94/mo

  • Laurentian Bank

    5.24%

    Payment: $18,94/mo

    6.14%

    Payment: $18,94/mo

    6.14%

    Payment: $18,94/mo

  • First Ontario

    6.59%

    Payment: $18,94/mo

    6.59%

    65% Loan to Value

    Payment: $18,94/mo

    6.69%

    Payment: $18,94/mo

  • Alterna

    6.09%

    Payment: $18,94/mo

    6.09%

    Payment: $18,94/mo

    -

    Payment: -

  • DUCA

    -

    Payment: -

    -

    Payment: -

    -

    Payment: -

  • MCAP

    5.14%

    Payment: $18,94/mo

    5.14%

    Payment: $18,94/mo

    5.89%

    Payment: $18,94/mo

  • First National

    5.66%

    Payment: $18,94/mo

    5.66%

    Payment: $18,94/mo

    5.66%

    Payment: $18,94/mo

  • ICICI

    6.59%

    Payment: $18,94/mo

    7.69%

    Payment: $18,94/mo

    7.69%

    90 day rate hold

    Payment: $18,94/mo

  • CMLS

    5.24%

    Payment: $18,94/mo

    6.14%

    Payment: $18,94/mo

    -

    Payment: -

Frequently Asked Questions


Will mortgage rates be lower in 4 years, when the mortgage matures?

There is a good possibility that rates will be lower in 4 years’ time if the economy slows given higher current rates. However, there are other National and Global forces at play that could surprise everyone and keep rates higher for longer.

Is the 4-year rate better than the 3 year rate?

The 4 year fixed rate is not necessarily better than the 3 year fixed rate. The question is, if it is a better fit mortgage rate for your unique situation and tolerance to risk.

Is the four year fixed rate riskier than a five year fixed rate?

That’s an interesting question because risk works in two ways. If the four-year fixed rate is currently lower than the five-year, then this lowers your risk because you are saving on mortgage interest costs over the 4 year term. However, if rates on the renewal date after 4 years are higher, then the 5 year term could be a better decision. The trick is finding a 4 year fixed rate that is the same as, or better than a 5 year rate. This is less common in 2023 however it can happen and Altrua can help.