Southwestern Ontario, Ontario Updated August 23, 2026 Best Mortgage Rates inLondon Affordable university city with significant price correction 🏠 Avg. Home Price $580,000 -5.1% YoY 🏢 Avg. Condo Price $365,000 📅 Days on Market 38 ⭐ Best 5-Yr Fixed 4.04% Get Pre-Approved Today Calculate Payments 📊 Rate Comparison Compare Mortgage Rates in London Get personalized rates for your city See local market data and mortgage tips Enable Location Updated August 23, 2026 Today's Best Mortgage Rates Compare discounted rates from Canada's top lenders. These are actual rates you can get - not posted bank rates. Prime Rate 4.45% Apply Now → Best 5-Yr Fixed 4.04% Apply Now → Best Variable 3.50% Apply Now → Featured Mortgage Rates Best discounted rates available today – sorted by lowest rate Term Lender Best Rate 5-Year Variable National Bank 3.50% Get This Rate 3-Year Fixed National Bank 3.89% Get This Rate 4-Year Fixed National Bank 3.99% Get This Rate 5-Year Fixed National Bank 4.04% Get This Rate 2-Year Fixed National Bank 4.24% Get This Rate 7-Year Fixed National Bank 4.54% Get This Rate 1-Year Fixed MCAP 4.69% Get This Rate 10-Year Fixed MCAP 4.69% Get This Rate Ready to Lock In Your Rate? Get pre-approved in minutes. No obligation, no credit impact. Get Approved Today * Rates shown are discounted rates for insured mortgages. Rates may vary based on credit profile, down payment, and property type. Subject to change without notice. OAC. 🏙️ Market Overview London Mortgage Market Overview 2026 London represents exceptional value in Ontario's real estate landscape. At $580,000 average, first-time buyers need only $32,500 down (5% with CMHC insurance) to enter the market. The city has seen a 5.1% correction, creating a strong buyer's market. Western University and healthcare sector employment provide stability. London attracts remote workers and GTA refugees seeking affordable, family-friendly communities. 💡 Local Insights Mortgage Tips for London Buyers Expert advice tailored to the local London real estate market. First-Time Buyers London offers some of Ontario's best first-time buyer value with minimal down payment requirements. Min. down payment: $29,000 (5% of avg. price) Refinancing Lower prices mean faster equity building—consider refinancing for rental property investments. Investment Property Western University and Fanshawe College create consistent student rental demand. Ready to buy in London? Get pre-approved in minutes. No obligation, no credit impact. See what you qualify for today. Get Pre-Approved Free → 📍 Neighborhoods Popular Areas in London Downtown Old North Byron Masonville Hyde Park Wortley Village 🏦 Local Lenders Top Mortgage Lenders in London We compare rates from these and 50+ other lenders to find you the best deal. TD Canada Trust RBC Libro Credit Union DUCA Meridian ❓ FAQ Frequently Asked Questions About Mortgages in London Why is London so much cheaper than the GTA? London lacks the transit connectivity and employment density of the GTA. However, remote work has changed this equation—many buyers now prioritize affordability and space over commute times. Get the Best Mortgage Rate in London Work with a local mortgage expert who understands the London market. We compare rates from 50+ lenders to save you thousands. ✓ Free, no-obligation quote ✓ No credit impact ✓ 50+ lenders compared Get Your Free Quote Calculate Payments Best Rates, Mortgage Brokerage Lic#12685. Regulated by the Financial Services Regulatory Authority of Ontario (FSRA). Related Mortgage Guides Mortgages for Doctors, Dentists, and Medical Professionals in Canada (2026) What Income Do You Need for a Mortgage in Canada? Can You Be Denied a Mortgage Renewal in Canada? How Much Equity Can You Take Out of Your Home in Canada? Mortgage Pre-Approval vs Pre-Qualification in Canada
