Best mortgage rates - Toronto

If you are looking to search for the best mortgage rates, in Toronto you've come to the right place. RateSupermarket.ca compares over 500 rates from lenders and mortgage brokers in Toronto so you'll be sure to find the ideal loan for your home.

Toronto Mortgage Rates Will Remain Relatively Flat

The Canadian Mortgage and Housing Corporation (CMHC) has reported in their latest Great Toronto Housing Association Market Outlook that posted mortgage rates eased by about 50 basis points in the first four months of this year, although rates in late April were 30 to 35 basis points higher than they were 12 months prior. Mortgage rates are expected to trend marginally lower throughout 2008, but will be within 25-50 basis points of their current levels.

For 2009, posted mortgage rates will begin to drift up slightly as the year progresses. For 2008 and 2009, the one-year posted mortgage rate is forecast to be in the 6.50- 7.50 per cent range, while three and five-year posted mortgage rates are forecast to be in the 6.75-7.50 per cent range.

CMHC Toronto housing market & Toronto mortgage rate forecast

Census Metropolitan Area		Total Housing Starts	MLS sales	MLS average price	Mortgage rates (1 year)	Mortgage rates (5 year)
Toronto	2007	33,293	95,164	$377,029	7.35%	7.54%
	2008 (F)	35,000	84,000	$394,000	6.95%	7.01%
	2009(F)	33,600	77,000	$404,000	6.83%	6.97%