If you’re thinking of buying a home in Ottawa this year, you’ve probably noticed one number popping up in every conversation: interest rates.
After years of rapid fluctuations, 2025 is shaping up to be a more stable—and dare we say hopeful—year for mortgage shoppers. Whether you’re a first-time buyer, an investor, or looking to make a move-up purchase, knowing what to expect from mortgage rates can save you in the long-run!
So let’s break it down. What are the best mortgage rates in 2025, and how do you decide between fixed and variable? We’ve got all the info you need (and the links).
Is 2025 A Buyer’s Market Sweet Spot?
After a turbulent couple of years marked by rate hikes and an affordability crisis, 2025 is giving buyers a breather. The Bank of Canada began lowering rates in late 2024, with further cuts expected this year. This is great news for those waiting on the sidelines, it means improved affordability and more flexibility in mortgage options.
Translation? You might not have to settle for sky-high monthly payments.
Fixed vs. Variable in 2025: Which Is Better?
With rates beginning to trend downward, many buyers are revisiting variable-rate mortgages, hoping to save as the Bank of Canada continues to ease monetary policy.
But variable rates do come with some risk—if inflation flares up again, those rates can rise quickly.
If you prefer predictability and peace of mind, a 3 or 5 year fixed rate might still be the better bet, especially with many lenders offering competitive fixed terms below 4% (April 2025). Remember that real estate has inherent risk, so it’s all about knowing your personal risk tolerance.
Where To Find the Best Mortgage Rates in 2025?
There are some great online tools that do the rate shopping for you. Here are a few go-to resources:
- Ratehub.ca – Easy to compare rates by term and lender, plus helpful mortgage calculators.
- WOWA.ca – Updated daily with Canada-wide and Ottawa-specific rate info.
- LowestRates.ca – Includes lender reviews and side-by-side comparisons.
You should also look at what your personal Bank or Credit Union can offer you. Sometimes they have special rates or perks for existing customers.
It’s important to always shop your rate! Don’t make the mistake of speaking with one lender and signing on the dotted line.
We also recommend working with a mortgage broker so they can help you shop the best rates. Bonus, they often have access to exclusive, unpublished rates you won’t find online.
If you live in the Ottawa area and need recommendations for a trusted Mortgage Broker, reach out to us! We’d be happy to connect you with a broker we trust.
Final Thoughts on 2025 Mortgage Rates
If you’re planning to buy in Ottawa this year, 2025 could be your year to lock in a great deal—especially as rates soften and the market balances out. Just be sure to do your homework, weigh your comfort with risk, and (this one’s key) get pre-approved before house hunting.
Still not sure which rate is right for you? We’re always happy to recommend trusted mortgage brokers in the Ottawa area or walk you through how your payments might look based on today’s numbers.
Here’s to finding the perfect home—and the perfect mortgage to go with it.
