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Toronto Housing Market

Anyone paying attention to the housing market recently has had a roller coaster ride, with historic highs followed by historic drops in value in the span of just three years. Regulations like the Non-Resident Speculation Tax (also known as the Foreign Buyers’ Tax) have been aimed at cooling the red hot market, and have been moderately successful. Toronto still remains a top destination for homebuyers, as prices are expected to increase (albeit slowly) in the following years, and Toronto itself is a very desirable city, as it is seen as the financial, cultural, and entertainment centre of Ontario, if not all of Canada.

Last Updated: 20 Sep, 2019
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Lender Rate Term Amortization Monthly Payment
Xceed Mortgages

Xceed Mortgages

2.49% 5 Year, Fixed Insured 25 years
Exclusive

Exclusive Lender

2.49% 5 Year, Fixed Insurable 25 years
Marathon Mortgage

Marathon Mortgage

Best overall savings
2.54% 5 Year, Fixed Insured 25 years
RMG Mortgage

RMG Mortgage

2.59% 5 Year, Fixed Insured 25 years
B2B Bank

B2B Bank

2.59% 5 Year, Fixed Insured 25 years
MCAP

MCAP

Best overall savings
2.59% 5 Year, Fixed Insured 25 years
Exclusive

Exclusive Lender

Best overall savings
2.64% 5 Year, Fixed Insured 25 years
Right Mortgage

Right Mortgage

2.64% 5 Year, Fixed Insured 25 years
Home Trust

Home Trust

2.64% 5 Year, Fixed Insured 25 years
ICICI Bank

ICICI Bank

2.64% 5 Year, Fixed Insured 25 years
Lendwise

Lendwise

2.64% 5 Year, Fixed Insured 25 years
Exclusive

Exclusive Lender

2.64% 5 Year, Fixed Insured 25 years
CMLS

CMLS

Best overall savings
2.69% 5 Year, Fixed Insured 25 years
Exclusive

Exclusive Lender

2.69% 5 Year, Fixed Insured 25 years
Merix Financial

Merix Financial

Best overall savings
2.69% 5 Year, Fixed Insured 25 years
First National

First National

Best overall savings
2.69% 5 Year, Fixed Insured 25 years
Industrial Alliance

Industrial Alliance

Best overall savings
2.69% 5 Year, Fixed Insured 25 years
ScotiaBank

ScotiaBank

Best overall savings
2.69% 5 Year, Fixed Insured 25 years
Street Capital

Street Capital

2.69% 5 Year, Fixed Insured 25 years
Exclusive

Exclusive Lender

2.75% 5 Year, Variable Insured 25 years
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About Toronto

As Ontario’s capital, and one of the most recognizable Canadian cities abroad, Toronto has a well-deserved reputation for being a first-class city. It is the largest city in Canada with a population of 2.7 million, and the fourth-largest city in North America, behind Mexico City, New York City, and Los Angeles.

With a median family income of $68,110, Toronto is the 21st ranked Canadian city by income, showing good, but not great, economic prospects. Home to the Toronto District School Board and Toronto Catholic District School Board, there are many top-rated schools in the city for young students, and with the University of Toronto being the most prominent post-secondary institution, there are many amazing opportunities for continuing education as well.

Posted at: 2019-07-18

The single most important mortgage rate in Canada has finally dropped, years after the last decrease. The mortgage stress test rate, formerly at 5.34% is dropping to 5.19% on July 22, 2019. The last ...

Posted at: 2019-07-18

  Canada is unique among many other countries as we have one of the highest rates of homeownership in the world, with nearly 70% of Canadians owning their home. The remaining 30% are renting either ...

Posted at: 2019-07-16

What does a rate increase mean for your mortgage? That depends on the type of mortgage you have. If you have a fixed rate mortgage, then nothing changes. You will keep paying the same monthly amoun...

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