Latest Mortgage Rates Canada
Compare current rates from Canada's top lenders including Big 6 Banks and monoline lenders. Updated twice daily.
nesto vs Wealthsimple Mortgage Rates
nesto vs Wealthsimple is the digital-channel bake-off: a direct-to-consumer digital lender with a low-rate guarantee and long rate holds, versus a licensed brokerage that shops 25+ partners and may pay cash-back. Neither is a Big 5 branch. Compare live 5-year insured and uninsured cells — nesto often shows both labels in our feed, while Wealthsimple's public scrape is frequently insured-only. A missing cell is a missing scrape, not a fake number.
Percentages below are live from our daily lender feed. A dash means that product is not in today's scrape — we do not invent a current rate. Always confirm with the lender.
Live nesto vs Wealthsimple rates
| Product | nesto | Wealthsimple | Lower in today's feed |
|---|---|---|---|
| 5-year fixed insured | 4.39% | 4.19% | Wealthsimple |
| 5-year fixed uninsured | 4.89% | — | nesto |
| 5-year variable insured | 3.45% | 3.45% | Tied |
| 5-year variable uninsured | 3.95% | — | nesto |
When to choose nesto
Digital mortgage lender with an advertised low-rate guarantee, 150-day rate holds, and a fully online application backed by licensed experts.
- ✓You want a digital lender quoting an upfront special on both insured and uninsured 5-year
- ✓A long rate hold (nesto commonly advertises 150 days) matters for a slow closing
- ✓You prefer one digital origination path rather than a brokerage assigning a partner lender
- ✓nesto's live cell is the lower rate on the label you actually qualify for
When to choose Wealthsimple
Licensed brokerage shopping 25+ partners. Strong public insured 5-year prints; cash-back may apply; provincial coverage limits apply.
- ✓You want a broker to shop multiple lenders, not a single digital lender's sheet
- ✓An insured 5-year special plus cash-back (if you qualify) beats nesto's print today
- ✓You already live in the Wealthsimple app and Chequing ecosystem
- ✓Your province and mortgage size fit Wealthsimple's current rules
nesto vs Wealthsimple: pros and cons
nesto
Pros
- +Often lists both insured and uninsured 5-year fixed and variable in our feed
- +Low Mortgage Rate Guarantee positioning (confirm current terms with nesto)
- +Long advertised rate-hold window for purchase timelines
- +No branch visit required
Cons
- −Not a bank HELOC/FlexLine product suite
- −Guarantee and hold rules are marketing terms — get the contract rate in writing
- −You still qualify through standard underwriting and the stress test
Wealthsimple
Pros
- +Broker shop across many partners, not one balance sheet
- +Competitive insured 5-year fixed and variable in many of our scrapes
- +Cash-back promotions on eligible new mortgages (confirm the grid)
- +Dedicated broker from quote through closing
Cons
- −The mortgage is funded by a partner — ask who the lienholder is
- −Coverage excludes Quebec and the territories today
- −Minimum mortgage size filters out smaller balances
- −Uninsured cells are often blank in our public scrape
How to decide
Same label, same term, then add perks
Compare nesto and Wealthsimple on 5-year fixed insured, then separately on uninsured if both have a number. Convert cash-back to a rough rate-equivalent only after the promo qualifies. Rate-hold length matters if your closing is far out.
Know who holds the mortgage
nesto is the digital lender you apply to. Wealthsimple is the broker; a partner funds the loan. That affects porting, renewals, and who you call in five years. It should not be a surprise at solicitor review.
Check the rest of the market anyway
A digital vs digital winner can still lose to a Big 5 special or a monoline. Keep the 5-year fixed hub, variable hub, and TD / RBC pages in the tab set.
Underwriting is not “no paperwork”
Digital still means income, down payment, property, and stress-test checks. Use the stress-test qualifier and payment calculator with the live contract rate, not the marketing headline.
Mortgage Negotiation Guide
Save $5,000-$25,000 with insider secrets banks don't want you to know.
Learn MoreLive rate hubs
Jump from this comparison into today's 5-year fixed, variable, insured, and uninsured tables.
Calculators and the negotiation guide
Run the payment, affordability, and stress-test numbers on a live contract rate, then use the mortgage guide when you negotiate.
Mortgage comparison guides
Fixed vs variable, insured vs uninsured, and lender vs lender — with live rates from the same feed as our hubs.
Product
Fixed vs Variable
The contract rate stays the same for the term. Best when you want a known payment and can live with a higher break penalty.
Product
Insured vs Uninsured
Less than 20% down on an eligible owner-occupied purchase. Default insurance is required; the premium is usually added to the loan.
Lender vs lender
Wealthsimple vs TD
Licensed digital brokerage. Brokers shop partner lenders. Cash-back promos may apply on new mortgages; coverage is not Canada-wide.
Lender vs lender
TD vs RBC
Big 5 lender with FlexLine, newcomer programs, and a large branch plus digital network. Shop the discounted special, not the posted rate.
Lender vs lender
BMO vs CIBC
Big 5 lender with Smart Fixed mortgages, a full HELOC, and online pre-approval. Competitive when the discounted special is in writing.
Frequently Asked Questions
Is nesto or Wealthsimple cheaper for a 5-year fixed insured mortgage?
In today's feed, nesto's 5-year fixed insured is 4.39% (nesto) and Wealthsimple's is 4.19% (Wealthsimple). Uninsured 5-year fixed is 4.89% (nesto) at nesto and not currently listed in our daily feed at Wealthsimple. Read dashes as “not in today's feed,” not as a guessed rate.
How do nesto and Wealthsimple variable rates compare?
nesto's 5-year variable insured is 3.45% (nesto) and uninsured is 3.95% (nesto). Wealthsimple's 5-year variable insured is 3.45% (Wealthsimple). Variables are spreads to a lender's prime — Wealthsimple does not set its own prime.
Is Wealthsimple a lender like nesto?
No. nesto originates as a digital mortgage lender. Wealthsimple Mortgage Services Inc. is a brokerage that searches partner lenders. Both can be fully digital for you as a borrower; the legal lender on title is not the same.
Does nesto's rate guarantee beat Wealthsimple cash-back?
They are different levers. A guarantee is about matching or beating a qualifying competing quote (read nesto's current rules). Cash-back is a dollar amount on an eligible new mortgage, not a lower contract rate. Price the contract rate first, then the perk.
Which is better if I need an uninsured mortgage?
Look at today's uninsured cells. nesto often shows conventional 5-year prints in our feed; Wealthsimple's public table may not. That does not mean Wealthsimple partners never do uninsured files — it means you must ask, and you should still check the uninsured hub.
Can I use either if I live in Quebec?
Wealthsimple's own coverage list excludes Quebec. nesto's availability is a separate question — confirm on their application. Do not assume a national digital brand funds every province.
Should I still get a Big 5 quote?
Yes if you want a branch HELOC structure or a relationship special. Use this page against TD, RBC, and the national rate hubs. Digital is a channel, not a guarantee you found the market low.
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