TD Bank’s mortgage rates today show a clear split between stability and flexibility, with fixed rates holding firm while variable options continue to appeal to borrowers expecting easing financial conditions later in the cycle. As one of Canada’s largest lenders, TD’s posted and special rates often shape broader mortgage market expectations.
For homebuyers, refinancers, and those considering a switch, understanding the difference between TD’s fixed and variable products — along with how Annual Percentage Rate (APR) affects long-term costs — is becoming increasingly important as housing affordability remains under pressure.
TD Bank Fixed Mortgage Rates Today
TD’s fixed mortgage rates are designed for borrowers who value payment certainty. The bank’s current special offers show its most competitive pricing clustered around medium-term products, particularly three- and five-year fixed closed mortgages.
A three-year fixed closed mortgage is currently offered at a special rate of 4.59%, with an APR of 4.624%. This option appeals to buyers who want protection from rate volatility without committing to a full five-year term, which has become a popular strategy as interest-rate expectations evolve.
Five-year fixed closed mortgages remain available at 4.74%, carrying an APR of 4.761%. The same pricing applies to high-ratio borrowers, reflecting TD’s consistent approach across insured and uninsured lending under this term. These rates sit well below TD’s posted levels, highlighting the importance of negotiated or promotional pricing rather than headline figures.
Variable Mortgage Rates at TD
For borrowers willing to accept some risk, TD’s five-year variable closed mortgage rate currently stands at 4.34%, with an APR of 4.361%. This rate is tied to the TD Mortgage Prime Rate, set at 4.60%, reflecting a discount of 0.26 percentage points.
Variable-rate mortgages typically attract buyers who believe interest rates may trend lower over time, allowing them to benefit from potential reductions in monthly payments or overall interest costs. However, these products can expose households to payment increases if market conditions shift unexpectedly.
Why APR Matters More Than the Headline Rate
While the interest rate grabs most attention, the APR provides a more complete picture of borrowing costs. APR includes certain fees and charges associated with a mortgage, making it a more accurate measure when comparing offers between lenders or between different products at the same bank.
For example, TD’s five-year fixed closed mortgage rate of 4.74% translates to a slightly higher APR of 4.761%. Over the life of a large mortgage, even small differences like this can add up, particularly for borrowers planning to hold their loan for the full term.
Switching to TD: Limited-Time Incentive
TD is currently offering incentives for borrowers switching their mortgage, with potential savings of up to $5,100. The promotion is available for a limited time and is set to expire on March 1, 2026, subject to conditions.
Switch incentives can help offset legal, appraisal, or discharge fees, making it easier for homeowners to move their mortgage without incurring significant upfront costs. For many borrowers, these offers can materially change the math when deciding whether to refinance or change lenders.
Getting Personalized Mortgage Advice
Mortgage rates alone do not tell the full story. Factors such as amortization length, prepayment privileges, penalties, and long-term financial plans all play a role in choosing the right product. TD offers access to Mortgage Specialists through its TD Mortgage Direct service, helping borrowers align mortgage features with their financial goals.
More details on current offers, eligibility, and product terms can be found directly on TD Bank’s official mortgage rates page, where rates are updated and full conditions are outlined.
As Canada’s housing market continues to adjust, TD’s mortgage lineup reflects a balance between competitive pricing and product flexibility. Whether choosing the certainty of a fixed rate or the potential savings of a variable option, borrowers are increasingly focused on how today’s decisions will shape their finances well into 2026 and beyond.
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