The Best 4 Year Fixed Mortgage Rates in Ontario

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.

Private: Template 4 Year Fixed

As of December 3, 2024

As of December 3, 2024

4 yr Fixed

Lender
Insured

Insured mortgage rates are typically for less than 20% down payment and are insured against default through the CMHC or comparable default insurer. This involves a one time insurance premium built into the mortgage principal. Maximums: 25 YR amortization, $999,999 purchase price. No refinances.
Insurable

Insurable mortgages follow similar criteria as insured mortgages, but because these are 20%+ down payment/equity, there is no default insurance premium or additional cost built into the mortgage. Available for purchase and renewal, but not refinance/ equity takeout.
Uninsured

Uninsured mortgages are available for purchases of $1,000,000+ and refinance/equity take out transactions. Additional flexibility of uninsured mortgages includes optional 30 year amortization and more flexible borrowing limits.
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  • Altrua Financial Mortgage Rates

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

    4.24%

    Payment: $18,94/mo

    4.34%

    Payment: $18,94/mo

    4.34%

    Payment: $18,94/mo

  • TD

    4.79%

    Payment: $18,94/mo

    4.79%

    Payment: $18,94/mo

    4.79%

    Payment: $18,94/mo

  • BMO

    6.34%

    Payment: $18,94/mo

    6.34%

    Payment: $18,94/mo

    6.34%

    Payment: $18,94/mo

  • CIBC

    4.64%

    Payment: $18,94/mo

    4.64%

    Payment: $18,94/mo

    6.54%

    Payment: $18,94/mo

  • RBC

    4.69%

    Payment: $18,94/mo

    4.69%

    Payment: $18,94/mo

    4.94%

    Payment: $18,94/mo

  • Scotia

    4.59%

    Payment: $18,94/mo

    4.84%

    Payment: $18,94/mo

    4.84%

    Payment: $18,94/mo

  • National Bank

    4.39%

    Payment: $18,94/mo

    -

    Payment: -

    4.49%

    Payment: $18,94/mo

  • Manulife

    4.94%

    Payment: $18,94/mo

    4.94%

    Payment: $18,94/mo

    4.94%

    Payment: $18,94/mo

  • Desjardins

    4.39%

    Payment: $18,94/mo

    4.54%

    Payment: $18,94/mo

    4.54%

    Payment: $18,94/mo

  • Laurentian Bank

    6.34%

    Payment: $18,94/mo

    6.34%

    Payment: $18,94/mo

    6.34%

    Payment: $18,94/mo

  • First Ontario

    4.99%

    Payment: $18,94/mo

    4.99%

    65% Loan to Value

    Payment: $18,94/mo

    4.99%

    Payment: $18,94/mo

  • Alterna

    -

    Payment: -

    5.14%

    Payment: $18,94/mo

    5.29%

    Payment: $18,94/mo

  • DUCA

    -

    Payment: -

    -

    Payment: -

    -

    Payment: -

  • MCAP

    4.69%

    Payment: $18,94/mo

    4.89%

    Payment: $18,94/mo

    5.04%

    Payment: $18,94/mo

  • First National

    4.89%

    Payment: $18,94/mo

    4.89%

    Payment: $18,94/mo

    4.89%

    Payment: $18,94/mo

  • ICICI

    5.44%

    Payment: $18,94/mo

    5.44%

    Payment: $18,94/mo

    5.44%

    90 day rate hold

    Payment: $18,94/mo

  • CMLS

    4.89%

    Payment: $18,94/mo

    5.14%

    Payment: $18,94/mo

    -

    Payment: -

Quick Review of 4 Year Fixed Mortgage Rates Ontario

  • In 2024, 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.

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.