# Ottawa Mortgage Rates 2026: 4.59% 5-Year Fixed vs 3.49% Variable

> 3.49% is the 5-year VARIABLE, not the 5-year fixed. The live 5-year fixed is 4.59%.

Category: Mortgage Rates
Last verified: 2026-08-29
Source: https://ratellow.com/mortgages/rates/ottawa

## TL;DR
- Is 3.49% a 5-year fixed in Ottawa? No. 3.49% is the 5-year VARIABLE in Ottawa (and nationally). It is not a 5-year fixed rate. The live 5-year fixed is 4.59%.
- Do Ottawa rates differ from the rest of Ontario? No. Lender contract rates do not vary by city in Canada — Ottawa borrowers see the same Big 5 and broker pricing as the rest of Ontario. What differs is closing cost: Ottawa pays Ontario provincial land transfer tax only; Toronto’s municipal LTT does not apply.
- What is the live 5-year fixed? The live 5-year fixed is 4.59% as of 2026-10-18 (same national lender pricing as the rest of Ontario).
- Does Kanata, Barrhaven or Orléans pay Toronto’s municipal land transfer tax? No. Those are neighbourhoods inside the City of Ottawa. They pay Ontario provincial land transfer tax only. The City of Toronto municipal levy is a 416 by-law; it does not follow a purchaser to the National Capital Region.
- If I buy in Gatineau, which tax and legal system apply? Quebec’s. Gatineau, Aylmer and Hull close as a hypothec before a notary, with droits de mutation invoiced by the municipality — often months later. Ontario PLTT and an Ontario solicitor closing apply only on the Ontario shore. The live coupons on this page are still the national file either way.
- How do federal public-service pensions factor into an Ottawa qualification? Pensionable earnings and a departmental letter of employment are standard exhibits. They can support a cleaner GDS story than a bonus-heavy file at the same gross. They do not produce an Ottawa-only contract rate. Purchases still qualify at the Minimum Qualifying Rate; the November 2024 straight-switch exemption is a renewal instrument, not a purchase instrument.
- Ottawa pays Ontario provincial land transfer tax only; Toronto municipal LTT does not apply.