Mortgage Rates in Windsor, Ontario | Team Zanet
The rate you see advertised isn’t always the rate you’ll qualify for — or the one that makes the most sense for your situation. Team Zanet works with 30+ lenders to compare rates and structure a mortgage that fits your specific file.
How Mortgage Rates in Ontario Are Set
Variable rates follow the Bank of Canada. Its overnight rate sets prime (typically 2.20% above it), and variable mortgages are priced as prime plus or minus a spread — so when the Bank cuts or hikes, your rate moves with it.
Fixed rates follow Government of Canada bond yields, especially the 5-year bond. They rise or fall on market expectations for inflation and growth — sometimes before the Bank of Canada moves — which is why fixed and variable rates can head in opposite directions.
About 85 words. If you need it tighter still, the 2.20% detail is the first thing I’d cut.
The Mortgage Stress Test — What It Means for Windsor Buyers
Every federally regulated lender in Canada must qualify borrowers under the OSFI stress test. This means you are not qualified at your actual contract rate — you are qualified at the higher of:
Your contract rate plus 2.00%, OR the minimum qualifying rate of 5.25%
In practical terms: if you are offered a 5.00% fixed rate, you are qualified as though your rate were 7.00%. This affects how large a mortgage you can get — not your actual payment. Private lenders and some credit unions operate outside the federal stress test, which is one reason borrowers with complex files sometimes access financing outside the Big Six banks.
Mortgage Rate Options in Windsor
Fixed Rate
Your rate and payment stay locked for the full term. Best if you value certainty or plan to stay put — breaking early can mean a larger penalty.
Variable Rate
Your rate moves with prime. Historically the lower-cost option over time, with more flexible penalties if you break early — but payments can rise.
HELOC
A revolving line of credit secured against your home equity. Useful for renovations, investments, or ongoing access to funds without refinancing.
Renewal Rate
Coming up for renewal? Your current lender’s offer usually isn’t their best rate. We shop the market before you sign.
Why Your Mortgage Rate Depends on Who You Ask
Every lender can only show you their own rate. Team Zanet works across the full market — banks, credit unions, and monoline lenders — so the rate you get is the best one available, not just the one your bank happened to offer.
Robert and Sandra Zanet are independent mortgage advisors serving Windsor and Essex County. Here’s how that works in your favour.
Full Market Access
Banks compete only against themselves. We compare rates across banks, credit unions, and monoline lenders that don't sell directly to consumers.
Rate Holds
We lock in your rate for 90–120 days while you shop. If rates drop, you get the lower one. If they rise, you're already protected.
Stress Test Clarity
Every lender qualifies you at your rate plus 2%, or 5.25% — whichever is higher. We tell you your real number before you start looking.
Fixed or Variable, Matched to You
Certainty or savings — it depends on your timeline and risk tolerance. We walk you through both with real numbers, not guesses.
Renewal Protection
Lenders bank on you just signing the renewal they send. We compare the market before your renewal date so you don't overpay.
Every Situation Covered
Self-employed, new to Canada, investment property, or a complex file — our lender network includes options built for exactly that.
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