National figure — set Canada-wide, so it applies in Ottawa too.
The typical interest rate on a 5-year fixed mortgage. This is the rate most Canadian home buyers lock in. A lower rate means lower monthly payments and more buying power.
Recent trend
Last 24 months
What this means for Ottawa right now
As of July 2026, Ottawa's strongest market signal is Hold at 72% — Buy 46%, Hold 72%, Sell 49%.
Market conditions strongly favour holding — prices are stable and inventory is balanced.
What this means for you
If you're buying
A lower rate means lower monthly payments and more home for the same budget. A higher rate shrinks what you can comfortably afford.
If you're selling
Cheaper financing widens your pool of qualified buyers; pricier financing narrows it.
Ottawa market context
Canada's capital — a stable, government-anchored market less prone to boom-bust swings.
Rental Vacancy · Ottawa CMA (CMHC, annual)
3.1%
Unemployment Rate · Ontario (Statistics Canada)
7.9%
Common questions
Is now a good time to buy in Ottawa?
As of July 2026, Ottawa's strongest market signal is Hold (72%). Market conditions strongly favour holding — prices are stable and inventory is balanced. Not financial advice.
Why is the 5-year fixed so common in Canada?
It balances payment certainty with a manageable term — your rate is locked for five years, after which you renew.
What drives the 5-year fixed rate?
It tracks 5-year Government of Canada bond yields more closely than the Bank of Canada overnight rate.