Latest Mortgage Rates Canada
Compare current rates from Canada's top lenders including Big 6 Banks and monoline lenders. Updated twice daily.
Wealthsimple vs TD Mortgage Rates
Wealthsimple vs TD is a brokerage-versus-bank decision, not two Schedule I lenders with the same product shelf. Wealthsimple Mortgage Services Inc. is a licensed brokerage: in-house brokers search 25+ partners. TD is a Big 5 bank that originates its own mortgages and Home Equity FlexLine. Compare the same term and insured vs uninsured label using the live cells below — Wealthsimple's public table is often strongest on insured 5-year specials, while TD publishes a full conventional lineup.
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 Wealthsimple vs TD rates
| Product | Wealthsimple | TD | Lower in today's feed |
|---|---|---|---|
| 5-year fixed insured | 4.19% | 4.94% | Wealthsimple |
| 5-year fixed uninsured | — | 4.94% | TD Bank |
| 5-year variable insured | 3.45% | — | Wealthsimple |
| 5-year variable uninsured | — | 4.24% | TD Bank |
When to choose Wealthsimple
Licensed digital brokerage. Brokers shop partner lenders. Cash-back promos may apply on new mortgages; coverage is not Canada-wide.
- ✓You want a digital application and a broker shopping multiple lenders
- ✓You are comparing an insured 5-year special against a bank relationship rate
- ✓Cash-back (when offered) matters and you already use or will open Wealthsimple Chequing
- ✓Your province is in Wealthsimple's current coverage list and the mortgage meets their minimum size
When to choose TD
Big 5 direct lender with branches, posted and special rates, and the TD Home Equity FlexLine. Convenient if you already bank at TD.
- ✓You want a TD specialist, branch access, or to keep banking and the mortgage together
- ✓You need a FlexLine-style mortgage plus HELOC structure
- ✓You are a newcomer using TD's documented newcomer programs
- ✓You will actually receive a discounted TD special — not the posted 5-year rate on the homepage
Wealthsimple vs TD: pros and cons
Wealthsimple
Pros
- +Access to 25+ lending partners instead of a single bank's special
- +Often competitive on insured 5-year fixed and variable in our feed
- +No in-house “Wealthsimple prime” — the variable is a spread to the funding lender's prime
- +Optional cash-back on eligible new mortgages (confirm current promo rules)
Cons
- −Not a bank branch relationship or a TD-style FlexLine
- −Quebec and the territories are not currently served
- −Stated minimum mortgage size (commonly $150,000) rules out small balances
- −Uninsured rows may be blank in our scrape even when partners can do conventional files
TD Bank
Pros
- +Full conventional and high-ratio product set in most markets
- +In-person mortgage specialists and a national branch network
- +Home Equity FlexLine for readvanceable equity access
- +Clear path to run a TD-style GDS/TDS affordability check
Cons
- −Blind 5-year specials are often higher than aggressive monolines or brokered insured quotes
- −Posted rates are not the deal — you must ask for the discounted special in writing
- −IRD or three-month-interest penalties still apply if you break a closed TD mortgage
- −Qualification is still the federal stress test, even with an existing TD relationship
How to decide
Decide channel first: broker shop vs bank origination
If you want one institution to hold the mortgage and your chequing account, TD wins on structure. If you want a broker to shop 25+ partners and you are fine with a partner as lienholder, Wealthsimple is the channel. The live table tells you which 5-year cell is cheaper today; it does not change that structural difference.
Match insured vs uninsured before you declare a winner
Wealthsimple's advertised strength is often insured 5-year. TD's uninsured 5-year is the fair conventional comparison. A dash in our feed means we do not have that cell today. Open both lender pages and the insured / uninsured hubs.
Price extras honestly
Wealthsimple cash-back is not a rate. TD FlexLine flexibility is not a rate. Convert cash-back to a rate-equivalent only after you know the promo grid, then still run affordability and the stress test on the contract rate.
Confirm coverage and minimum size
Wealthsimple's FAQ lists specific provinces and a minimum mortgage amount. TD covers a broader map through branches and digital. Do not start an application in a province Wealthsimple does not serve.
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
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
nesto vs Wealthsimple
Digital mortgage lender with an advertised low-rate guarantee, 150-day rate holds, and a fully online application backed by licensed experts.
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
Does Wealthsimple offer mortgages compared with TD?
Yes. Wealthsimple offers mortgages through a licensed brokerage that searches partner lenders. TD originates its own bank mortgages. They are not the same product. Compare live rates on this page, then read the Wealthsimple and TD lender pages.
Whose 5-year rate is lower today, Wealthsimple or TD?
In today's feed, Wealthsimple's 5-year fixed insured is 4.19% (Wealthsimple) and TD's 5-year fixed insured is 4.94% (TD Bank). For uninsured 5-year fixed, Wealthsimple is not currently listed in our daily feed and TD is 4.94% (TD Bank). Use those live cells — a blank cell is not a made-up rate.
Is Wealthsimple cheaper than TD for a variable mortgage?
Wealthsimple's 5-year variable insured is 3.45% (Wealthsimple) in today's feed; TD's 5-year variable uninsured is 4.24% (TD Bank). Those are different insurance labels. Match insured vs uninsured on the variable hub before you pick a channel.
Does Wealthsimple have a prime rate like TD Prime?
No. There is no separate Wealthsimple prime. A variable arranged through Wealthsimple is a spread to the funding lender's prime. TD Prime is the bank's own prime. Always compare contract rates in the table, not prime slogans.
Can I get a Wealthsimple mortgage if I already bank at TD?
Yes, in provinces Wealthsimple serves, if you meet their minimum size and the partner lender's underwriting. You can keep TD chequing and still place the mortgage elsewhere. Switching later may involve a penalty — estimate it with the penalty calculator.
Which is better for a HELOC, Wealthsimple or TD?
TD's Home Equity FlexLine is a bank readvanceable product. Wealthsimple is a brokerage shopping residential mortgages, not a replacement for a TD FlexLine. If you need a mortgage-plus-HELOC structure, start with TD (or another bank HELOC) and still shop the mortgage rate.
How should I qualify the file either way?
Use the stress-test qualifier and the TD-style affordability calculator with the contract rate you are actually comparing. Partner lenders and TD both apply federal qualifying-rate rules on new purchases and refinances.
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