Ontario's average home price nears $850,000, making mortgage rates crucial. Top lenders offer varied options: low rates for homes under $1M, wide term selections, and programs for self-employed or newcomers. Fixed and variable rates differ in stability and cost. Insured mortgages require under 20% down payment; uninsured need 20%+. Factors affecting rates include credit score, debt, down payment, and mortgage type. Land transfer tax and first-time buyer programs also impact costs.
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