Compare Mortgage Rates in Brampton, Ontario
The best mortgage rates in Brampton, ON from major banks, credit unions and brokers.
Today's Best Mortgage Rates in Brampton
Evaluate Brampton's best mortgage rates in one place. RATESDOTCAs Rate Matrix lets you compare pricing for all key mortgage types and terms.
Rates are based on an average mortgage of $500,000 and subject to change based on filter criteria.
Updated 01:31 on Apr 26, 2025Placeholder |
Insured
The rates in this column apply to borrowers who have purchased mortgage default insurance.
This is required when you purchase a home with less than a 20% down payment.
The home must be owner-occupied and the amortization must be 25 years or less.
|
80% LTV
The rates in this column apply to mortgage amounts between 65.01% and 80% of the property value. The home must be owner-occupied and have an amortization of 25 years or less. You must have purchased it for less than $1 million. These rates are not available on refinances. Refinances require "Uninsured" rates.
|
65% LTV
The rates in this column apply to mortgage amounts that are 65% of the property value or less. The home must be owner-occupied and have an amortization of 25 years or less. You must have purchased it for less than $1 million. These rates are not available on refinances. Refinances require "Uninsured" rates.
|
Uninsured
The rates in this column apply to purchases over $1 million, refinances and amortizations over 25 years. More info on the differences between insured and uninsured rates.
|
Bank Rate
Bank Rate is the mortgage interest rate posted by the big banks in Canada.
|
---|---|---|---|---|---|
1-year fixed rate | 4.99% | 4.69% | 4.69% | 5.59% |
5.49%
![]() |
2-years fixed rate | 3.99% | 4.19% | 4.19% | 4.70% |
4.79%
![]() |
3-years fixed rate | 3.79% | 3.79% | 3.79% | 4.09% |
4.39%
![]() |
4-years fixed rate | 4.29% | 4.15% | 4.15% | 4.44% |
4.29%
![]() |
5-years fixed rate | 3.79% | 3.84% | 3.89% | 3.84% |
3.99%
![]() |
7-years fixed rate | 5.15% | 5.00% | 5.00% | 5.19% |
5.00%
![]() |
10-years fixed rate | 5.24% | 5.25% | 5.25% | 5.29% |
6.09%
![]() |
3-years variable rate | 4.40% | 4.30% | 4.30% | 4.45% |
6.35%
![]() |
5-years variable rate | 4.00% | 4.04% | 4.04% | 4.05% |
4.25%
![]() |
HELOC rate | N/A | N/A | N/A | N/A |
N/A
|
Stress Test | 5.25% | 5.25% | 5.25% | 5.25% |
N/A
|
Today's Best Mortgage Rates in Canada
Evaluate Canada’s best mortgage rates in one place. You can compare the most current mortgage rates and monthly payments from 175+ banks and lenders across Canada.
Rates are based on an average mortgage of $500,000 and subject to change based on filter criteria.
Lender
|
Insured
|
Insurable
|
Uninsured
|
---|---|---|---|
Frank Mortgage
|
3.79%
$2,573.49 / month
|
3.99%
$2,627.39 / month
|
3.89%
$2,600.37 / month
|
Northwood Mortgage Ltd.
|
4.19%
$2,681.85 / month
|
4.49%
$2,764.59 / month
|
4.19%
$2,681.85 / month
|
BMO
|
4.25%
$2,698.30 / month
|
4.47%
$2,759.03 / month
|
4.47%
$2,759.03 / month
|
Innovation Federal Credit Union
|
4.31%
$2,714.80 / month
|
4.31%
$2,714.80 / month
|
4.31%
$2,714.80 / month
|
True North Mortgage
|
2.99%
$2,363.66 / month
|
2.99%
$2,363.66 / month
|
2.99%
$2,363.66 / month
|
Hypotheca
|
3.74%
$2,560.11 / month
|
3.74%
$2,560.11 / month
|
3.74%
$2,560.11 / month
|
Monster Mortgage
|
3.79%
$2,573.49 / month
|
3.79%
$2,573.49 / month
|
3.79%
$2,573.49 / month
|
DUCA Financial
|
3.79%
$2,573.49 / month
|
3.79%
$2,573.49 / month
|
3.79%
$2,573.49 / month
|
Nesto
|
3.84%
$2,586.91 / month
|
3.84%
$2,586.91 / month
|
3.84%
$2,586.91 / month
|
The Mortgage Advisors
|
3.87%
$2,594.98 / month
|
3.87%
$2,594.98 / month
|
3.87%
$2,594.98 / month
|
Interior Savings
|
3.89%
$2,600.37 / month
|
3.89%
$2,600.37 / month
|
3.89%
$2,600.37 / month
|
City Wide Financial Corp
|
3.89%
$2,600.37 / month
|
3.89%
$2,600.37 / month
|
3.89%
$2,600.37 / month
|
Prospera Credit Union
|
3.94%
$2,613.86 / month
|
3.94%
$2,613.86 / month
|
3.94%
$2,613.86 / month
|
Mortgage Brokers City Inc
|
3.94%
$2,613.86 / month
|
3.94%
$2,613.86 / month
|
3.94%
$2,613.86 / month
|
First Foundation
|
3.94%
$2,613.86 / month
|
3.94%
$2,613.86 / month
|
3.94%
$2,613.86 / month
|
Alterna Savings
|
3.94%
$2,613.86 / month
|
3.94%
$2,613.86 / month
|
3.94%
$2,613.86 / month
|
Laurentian Bank Canada
|
3.99%
$2,627.39 / month
|
3.99%
$2,627.39 / month
|
3.99%
$2,627.39 / month
|
Simplii Financial
|
3.99%
$2,627.39 / month
|
3.99%
$2,627.39 / month
|
3.99%
$2,627.39 / month
|
The Police Credit Union
|
3.99%
$2,627.39 / month
|
3.99%
$2,627.39 / month
|
3.99%
$2,627.39 / month
|
CIBC
|
3.99%
$2,627.39 / month
|
3.99%
$2,627.39 / month
|
3.99%
$2,627.39 / month
|
WFCU Credit Union
|
3.99%
$2,627.39 / month
|
3.99%
$2,627.39 / month
|
3.99%
$2,627.39 / month
|
Northern Birch Credit Union
|
3.99%
$2,627.39 / month
|
3.99%
$2,627.39 / month
|
3.99%
$2,627.39 / month
|
First Credit Union
|
4.29%
$2,709.29 / month
|
4.29%
$2,709.29 / month
|
4.29%
$2,709.29 / month
|
The Brampton mortgage market
With a population of over 600,000 residents, Brampton is the third-most populous city in Ontario’s “Greater Golden Horseshoe.” It’s also one of the most ethnically rich with the largest concentration of south Asians in Canada.
Brampton is conveniently located within easy commuting distance to downtown Toronto, and nearby Pearson International Airport. Being located so close to Canada’s largest city means Brampton is easily served by many of the largest lenders in the nation, and Brampton mortgage shoppers have access to one of the most heavily concentrated markets for mortgage brokers.
This immense competition means those searching for a home in Brampton have access to among the most aggressive mortgage rates in the country. And Brampton residents, many being foreign born, are also known for being some of the shrewdest mortgage negotiators in the country.

Quick stats on Brampton
Here's a quick look at Bramptons key mortgage and housing metrics.
- Population (2019): 999,999
- Average Home Price: $773,000
- Home Price Change (year-over-year): 8.80%
- Minimum Down Payment (Insured): $52,300
- Minimum Down Payment (Uninsured): $154,600
- Average Insured Mortgage Payment: $3,228
- Average Uninsured Mortgage Payment: $2,770
* Data as of March 2020.
Brampton mortgage rate trends
Here’s a look at how Brampton mortgage rates have stacked up over the years with the lowest widely advertised national rates
Year | Brampton 5-year Fixed | Canada 5-year Fixed | Brampton Variable | Canada Variable |
---|---|---|---|---|
2015 | 2.39% | 2.66% | 2.49% | 2.39% |
2016 | 2.39% | 2.51% | 2.49% | 1.97% |
2017 | 2.39% | 2.84% | 2.49% | 2.34% |
2018 | 2.39% | 3.50% | 2.49% | 2.76% |
2019 | 2.39% | 2.66% | 2.49% | 2.80% |
Brampton mortgage rate forecast
The best rates in Brampton are almost exactly the same as the best rates in Toronto. The economies are so intertwined that mortgage costs move together.
Given that, the forecast for Toronto also applies to Brampton. That is, economists expect rates to remain low through 2022 as the city recovers from the economic damage of the COVID-19 recession. Furthermore, at the time of this writing, analysts project no change in the Bank of Canada’s key lending rate until late 2022 or early 2023.
Comparing the best Brampton rates vs. banks
Anybody looking to purchase a house and secure a mortgage can do themselves a huge favour (and save themselves a bundle) by doing this one simple step: compare mortgage rates first.
No mortgage shopping experience should start without checking the lowest rates, analyzing the differences in terms and contacting your selected providers for details on any fees and fine print.
The difference between Brampton’s best and worst mortgage rates can be as wide as a full percentage point. Sometimes even more. You don’t want to be the buyer that unknowingly accepts the rate at the higher end of that spectrum.
The Big 6 Banks tend to offer slightly higher rates but are competitive on uninsured mortgages and HELOCs. Mortgage brokers and online discount brokerages typically offer the best insured and insurable mortgage rates. This is because brokers are able to buy down rates using their commission, which they then pass along to their clients in the form of lower effective rates.
GTA-based credit unions can be a good source of competitive mortgage rates as well, particularly during the busy spring home-buying season. That’s when they tend to have their best rate promotions.
Frequently asked questions about mortgage rates in Brampton
Who are some of the popular Brampton mortgage brokers?
Brampton’s population density, in addition to being located near to Downtown Toronto, allows for a greater concentration of mortgage providers in this market. In fact, Brampton is served by more lenders than almost any city in Canada apart from Toronto itself.
Besides lenders, Brampton mortgage brokers are a force. They’re known for offering some of the lowest mortgage rates on the market, as well as the most flexible lending terms. They’re particularly aggressive on default-insured mortgage rates.
The largest brokerages operating in the city include Dominion Lending Centres, TMG The Mortgage Group and M3 Mortgage Group, which consists of Mortgage Alliance, Mortgage Intelligence, Verico, Invis and Multi-Prêts.
Some of the top deep-discount online brokers servicing Brampton include:
- intelliMortgage Inc. (sister company to Rates.ca)
- True North Mortgage
- Butler Mortgage
- Sigma Mortgage
- Spin Mortgage
- MortgagePal
Who are some of the most popular Brampton mortgage lenders?
The city’s biggest lenders include:
- RBC
- TD Canada Trust
- Scotiabank
- Bank of Montreal
- CIBC
- Meridian Credit Union
- HSBC
- First National
- MCAP
Brampton’s high home prices and large mortgage amounts are in high demand by lenders. That said, some mortgage underwriters tend to be a little more careful when underwriting loans in the city. For whatever reason, Brampton has developed somewhat of a reputation in the financing industry for above-average fraud rates. Although, mortgage loss rates in the city remain very low on an absolute basis.
What drives Brampton's mortgage outlook?
Brampton’s mortgage market is heavily influenced by the Toronto economy and housing market. It is part of the Greater Toronto Area (GTA) and most adult residents work in other parts of the GTA.
Due to very high immigration levels, plentiful job opportunities and an overall housing supply shortage, Brampton’s housing and mortgage demand have remained strong for the last number of years. An interruption in immigration, however unexpected, would weigh heavily on the city.
Like everywhere else, however, the COVID-19 pandemic resulted in a large drop-off in demand in spring 2020. As of April 2020, it remains to be seen how much this and the immigration slowdown will affect Brampton’s housing market and mortgage rates.