True North Mortgage Rates Today: Compare to Butler & RMG

True North Mortgage pitches itself as Canada’s deepest-discount broker, with variable rates at Prime minus 1.20% and a 2.99% listing on Rates.ca—yet its posted 5-year fixed sits at 4.24%, higher than Butler’s advertised 3.99%. That gap reveals why shopping three brokers beats reading one headline rate.

1-Year Fixed Rate: 4.74% · 2-Year Fixed Rate: 4.29% · 3-Year Fixed Rate: 4.19% · Starting Rates: 2.49% · 5-Star Reviews: Over 16,000

True North Mortgage, Butler Mortgage, and RMG Mortgage each occupy distinct positions in Canada’s broker landscape. The table below aggregates posted and aggregator-sourced rates to surface where each broker holds an advantage.

Why is True North mortgage so cheap?

True North operates as a mortgage broker rather than a direct lender, which fundamentally changes how it can price products. Where a bank funds mortgages from its own balance sheet and must maintain profit margins across all products, a broker aggregates applications from multiple lenders and earns commissions from those lenders—meaning the broker’s overhead stays lower and rate competition intensifies across the network.

Rate comparisons to Butler and RMG

NerdWallet’s comparison data shows Butler Mortgage advertising 5-year fixed rates from 3.99% for Ontario borrowers, while True North’s 2024 posted 5-year fixed rate sat at 4.24%. Butler’s 5-year variable product comes in at 3.30%, and NerdWallet lists an insured 5-year fixed at 3.69% for Butler after accounting for default insurance requirements.

RMG Mortgage structures its variable offerings around a Prime minus discount model: RMG offers Prime minus 0.95%, whereas True North’s insured high-ratio variable rate goes deeper at Prime minus 1.20%, according to WOWA.ca’s lender analysis. The gap matters most for borrowers with smaller down payments who qualify for insured mortgages.

Rates.ca’s comparison matrix shows True North listed at 2.99% for certain terms, though this figure appears tied to specific product configurations and regional availability.

Broker model advantages

True North’s broker model means it can theoretically access rates across dozens of lending institutions simultaneously. The company’s own materials state it “guarantees lowest rates” and “buys down rates to pass savings to clients,” which explains why promotional rates sometimes undercut Butler’s advertised figures. The catch: those guarantees typically apply to primary residence purchases with standard qualification criteria, leaving refinancing and investment properties subject to different pricing.

Is True North Mortgage the same as Think Financial?

True North Mortgage and Think Financial operate under related corporate structures but maintain distinct brand identities. True North functions as the consumer-facing mortgage brokerage with its own website, broker network, and rate marketing, while Think Financial appears in some regulatory filings and corporate registrations as an associated entity.

Corporate relationship details

The connection between the two entities shows up primarily in registration documents rather than consumer-facing materials. True North’s main site makes no mention of Think Financial, and Think Financial’s online presence focuses on different financial products than the mortgage brokerage model True North uses. Service overlap exists for customers seeking mortgage advice, but the branding separation suggests different market positioning.

Service overlaps

For borrowers, the practical difference matters less than the rates and terms offered. Both entities appear to serve Canadian mortgage customers, but True North’s scale—over $33 billion in mortgages arranged and 16,000+ reviews—indicates it handles significantly higher volume. If you’re evaluating rates, checking both entities’ offerings makes sense only if you’re uncertain which broker access your specific situation requires.

Who owns True North mortgages?

True North Mortgage is led by Founder and CEO Dan Eisner, who has positioned the company as Canada’s largest mortgage broker by origination volume. The company’s ownership structure appears as a privately held Canadian corporation, with no public listing or institutional backing from major financial groups.

Ownership structure

Industry analysis from RateShop.ca characterizes True North as competing directly with bank offerings rather than other brokerages, suggesting a market position focused on demonstrating value against major financial institutions. Unlike RMG, which RateShop.ca compares to “big banks,” True North’s broker model means it must actively negotiate across multiple lenders rather than funding from a single balance sheet.

Wikipedia overview

True North lacks a dedicated Wikipedia article as of this writing, which means independent verification of company history and leadership claims relies primarily on the company’s own publications. CEO Dan Eisner appears as the primary public voice on rate forecasts and industry commentary through the company’s blog, including forecasts for 2026–2030 that position him as an authority voice on Canadian interest rate trends.

Is 4.5% a good mortgage rate?

Whether 4.5% qualifies as good depends entirely on which term you’re comparing and whether you’re seeking fixed or variable products. For 5-year fixed mortgages specifically, the market averaged 4.32%–4.66% for insured products according to NerdWallet’s analysis of Canadian providers, making anything below that range competitive.

Context for Canadian fixed terms

Butler Mortgage’s advertised 3.99% for 5-year fixed falls at the lower end of the insured market range, while True North’s 4.24% sits slightly above but still within competitive territory. For uninsured mortgages with down payments over 20%, rates typically run 0.2%–0.5% higher due to different default insurance requirements.

The 4.5% figure itself hasn’t been verified as a specific True North offering. The company’s Atlantic Canada rates page shows 1-year fixed at 4.74%, 2-year at 4.29%, and 3-year at 4.19%—meaning shorter terms actually price higher in that region. This inversion from typical yield curve behavior warrants direct confirmation from a True North broker before assuming all terms follow the same pattern.

Comparison to True North rates

True North’s variable products offer the most aggressive pricing: Prime minus 1.20% for insured high-ratio mortgages. If Prime sits around 6.7%, that translates to approximately 5.5%—but variable rates fluctuate with the Bank of Canada’s overnight rate, creating payment uncertainty that fixed rates eliminate.

Will mortgage rates drop to 3% again?

The prospect of returning to pandemic-era 3% fixed rates appears unlikely in the near term based on available forecasts. True North’s CEO Dan Eisner has published projections for 2026–2030 that suggest rates will remain elevated compared to the 2020–2021 lows, though the specific trajectory depends on multiple macroeconomic factors.

Expert predictions for Canada

Major financial institutions have signaled resistance to cutting the overnight rate aggressively while inflation remains above target. The Bank of Canada’s current stance prioritizes price stability over housing market stimulation, meaning mortgage borrowers should plan for rates in the 4%–5% range for the foreseeable future rather than expecting a return to sub-3% fixed terms.

5-year outlook

Variable-rate borrowers who locked in during 2021–2022 at Prime minus 1.20% or better have generally fared well as the prime rate rose, because their discount remained constant while the nominal rate moved. For new borrowers, the question becomes whether the Bank of Canada will cut rates enough over a 5-year term to make variable’s lower starting rate beat fixed-rate stability.

The trade-off crystallizes around payment certainty versus cost optimization. Fixed at 4.24% from True North or 3.99% from Butler locks in a known cost for five years. Variable starting at Prime minus 1.20% offers lower initial cost but requires tolerance for payment fluctuations as the Bank of Canada adjusts its overnight rate. To understand the current mortgage landscape and make informed decisions, check out the Límit de contribució TFSA 2024.

The implication: borrowers choosing variable now bet that the Bank of Canada will cut enough to offset the payment volatility premium.

True North’s rates and two key competitors show where the market stands on fixed and variable options.

Three mortgage providers listed here reveal a consistent pattern: Butler Mortgage’s 3.99% 5-year fixed undercuts True North’s 4.24% on advertised rates, yet True North’s variable offering at Prime minus 1.20% offers deeper discount than RMG’s Prime minus 0.95% for insured borrowers.

Product features across the three brokers help clarify where each holds an edge.

Seven product features show True North’s advantage concentrated in broker-accessible rate discounts and newcomer mortgage options, while Butler holds the edge on 5-year fixed advertised rates and HELOC availability.

We Offer Lower Mortgage Rates in Ontario From 3.99% 5-Year Fixed Rate and 3.30% 5-Year Variable.

— Butler Mortgage (mortgage brokerage, Ontario-focused)

True North Mortgage helped more clients buy a home with discounted mortgage rates or switch lenders for a better deal and extra budget room.

— True North Mortgage Blog (company publication, 2024 year review)

Dan Eisner, True North Founder and CEO, offers industry insight on how Canadian and global factors might impact interest rates.

— Dan Eisner, CEO of True North Mortgage

Related reading: Bank of Canada current rate · GST Credit Increase

True North’s rates hold strong nationally, yet Albertas lowest fixed rates from Butler Mortgage in Alberta dip to 3.84% for five-year fixed terms.

Frequently asked questions