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By the end of September 2025, mortgage rates in Canada — and across Niagara — showed slight relief after several years of volatility.
- 5-Year Fixed (High Ratio): 3.94%–4.24%
- 5-Year Variable (High Ratio): 3.79%–4.85%
- 5-Year Fixed (Uninsurable): 4.29%–4.59%
- Prime Rate: 4.70%
The stress test still applies at the higher of 5.25% or contract rate +2%, meaning affordability remains a challenge. However, buyers are regaining confidence as rates stabilize.
Lower borrowing costs are improving demand, particularly among first-time buyers and move-up purchasers in Fort Erie and surrounding communities. Inventory remains high, giving buyers more choice and negotiating power.
If you’re considering buying or refinancing, now is an ideal time to review pre-approvals, as rate holds can protect you from future changes.
