Compare today's lowest 3-year variable mortgage rates from Ontario's top lenders. Updated daily with verified broker data.
As of May 6, 2026, the best 3-year variable rate in Ontario is 3.55% from Frank Mortgage. This rate applies to a conventional mortgage with 20%+ down payment and a 25-year amortization.
3-Year Variable rates from top Ontario lenders, by mortgage type.
| Lender | InsuredDown payment < 20% | InsurableHome < $1M & amort ≤ 25-yr | UninsurableRefinance or DP ≥ 20% | Action |
|---|---|---|---|---|
Frank Mortgage 3-Year Variable | 3.55%$3,011/mo | 3.65%$3,043/mo | 3.65%$3,043/mo | Switch & Save |
nesto 3-Year Variable | 3.6%$3,027/mo | 3.6%$3,027/mo | — | Switch & Save |
CIBC 3-Year Variable | 4.05%$3,172/mo | 4.05%$3,172/mo | 4.05%$3,172/mo | Switch & Save |
Shinhan Bank 3-Year Variable | 4.05%$3,172/mo | 4.05%$3,172/mo | 4.05%$3,172/mo | Switch & Save |
Kawartha Credit Union 3-Year Variable | 4.15%$3,205/mo | 4.15%$3,205/mo | 4.15%$3,205/mo | Switch & Save |
DUCA 3-Year Variable | 4.15%$3,205/mo | — | — | Switch & Save |
Alterna Savings 3-Year Variable | 4.25%$3,238/mo | 4.25%$3,238/mo | 4.25%$3,238/mo | Switch & Save |
Laurentian 3-Year Variable | 4.45%$3,304/mo | — | — | Switch & Save |
CMLS 3-Year Variable | 4.75%$3,405/mo | — | — | Switch & Save |
Last 19 days
Already have a mortgage? See how much you could save by switching.
At 3.55% over 25 years, a $600,000 mortgage costs $305,956 in total interest. Our Payoff Lab shows you exactly how much you can save.
Canadian rules applied — CMHC insurance, LTT, and payment frequency calculated in real time.
Monthly Payment
$3,020
/month
Mortgage
$600,000
Total Interest
$305,956
Total Cost
$905,956
● Payoff Lab users pay the same monthly — but finish 5 years earlier. See how →
Common questions about Ontario mortgage rates, answered by licensed brokers.
Founder of Mortgages Lab & Mortgage Expert
Camilo Rodriguez is the Founder of Mortgages Lab, a licensed mortgage broker with over 23 years of experience helping Canadians achieve financial freedom. He has trained 100+ mortgage agents across Canada and is Past President of The Canadian Mortgage Broker Association - BC. He is the author of "From Debt to Zero," a guide to becoming mortgage free.
P.A.Y.O.F.F™, L.A.B™, M.A.P™ are Trademarks of Mortgages Lab®
This page contains informational content only and does not constitute financial advice. Mortgage rates shown are sourced from publicly available lender data and may change without notice. Always verify rates directly with the lender. Mortgages Lab may receive compensation from partner lenders, which does not influence our editorial content or rate rankings. Built on Real Experience — 23+ years of working with real mortgage scenarios and helping Canadians achieve financial freedom.
