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Rates are based on an average mortgage of $500,000 and subject to change based on filter criteria.
Lender
|
Insured
|
Insurable
|
Uninsured
|
|---|---|---|---|
Lendwire Inc.
|
4.04%
$2,640.95 / month
|
4.24%
$2,695.56 / month
|
4.24%
$2,695.56 / month
|
Lendwire Inc
|
4.04%
$2,640.95 / month
|
4.24%
$2,695.56 / month
|
4.24%
$2,695.56 / month
|
MMG Mortgages
|
4.14%
$2,668.19 / month
|
4.44%
$2,750.71 / month
|
4.44%
$2,750.71 / month
|
Rocket Mortgage
|
4.55%
$2,781.28 / month
|
4.75%
$2,837.28 / month
|
4.55%
$2,781.28 / month
|
Innovation Federal Credit Union
|
4.57%
$2,786.86 / month
|
4.57%
$2,786.86 / month
|
4.57%
$2,786.86 / month
|
BMO
|
4.60%
$2,795.23 / month
|
4.79%
$2,848.54 / month
|
4.79%
$2,848.54 / month
|
Nuborrow
|
5.49%
$3,049.05 / month
|
5.49%
$3,049.05 / month
|
5.49%
$3,049.05 / month
|
True North Mortgage
|
2.99%
$2,363.66 / month
|
2.99%
$2,363.66 / month
|
2.99%
$2,363.66 / month
|
Interior Savings
|
3.99%
$2,627.39 / month
|
3.99%
$2,627.39 / month
|
3.99%
$2,627.39 / month
|
Sudbury Credit Union
|
3.99%
$2,627.39 / month
|
3.99%
$2,627.39 / month
|
3.99%
$2,627.39 / month
|
City Wide Financial Corp
|
3.99%
$2,627.39 / month
|
3.99%
$2,627.39 / month
|
3.99%
$2,627.39 / month
|
Prospera Credit Union
|
4.09%
$2,654.55 / month
|
4.09%
$2,654.55 / month
|
4.09%
$2,654.55 / month
|
ATB Financials
|
4.09%
$2,654.55 / month
|
4.09%
$2,654.55 / month
|
4.09%
$2,654.55 / month
|
Monster Mortgage
|
4.14%
$2,668.19 / month
|
4.14%
$2,668.19 / month
|
4.14%
$2,668.19 / month
|
Centum Clinton Wilkins
|
4.14%
$2,668.19 / month
|
4.14%
$2,668.19 / month
|
4.14%
$2,668.19 / month
|
Nesto
|
4.14%
$2,668.19 / month
|
4.14%
$2,668.19 / month
|
4.14%
$2,668.19 / month
|
Centum Home Lenders Ltd.
|
4.14%
$2,668.19 / month
|
4.14%
$2,668.19 / month
|
4.14%
$2,668.19 / month
|
First Foundation
|
4.19%
$2,681.85 / month
|
4.19%
$2,681.85 / month
|
4.19%
$2,681.85 / month
|
Updated
Evaluate North York's best mortgage rates in one place. RATESDOTCA’s Rate Matrix lets you compare pricing for all key mortgage types and terms.
*Rates are based on a home value of $500,000
| Insured | 80% LTV | 65% LTV | Uninsured | Bank Rate | |
|---|---|---|---|---|---|
| 1-year fixed rate | 5.29% | 5.50% | 5.50% | 6.63% |
6.29%
|
| 2-year fixed rate | 4.64% | 4.89% | 4.64% | 4.64% |
5.59%
|
| 3-year fixed rate | 4.14% | 4.19% | 4.19% | 4.39% |
4.89%
|
| 4-year fixed rate | 4.49% | 4.59% | 4.54% | 4.54% |
4.74%
|
| 5-year fixed rate | 3.99% | 3.99% | 3.99% | 4.19% |
4.59%
|
| 7-year fixed rate | 5.30% | 5.40% | 5.40% | 5.90% |
5.50%
|
| 10-year fixed rate | 5.52% | 5.80% | 5.80% | 5.90% |
7.14%
|
| 3-year variable rate | 4.77% | 5.00% | 4.95% | 4.95% |
6.85%
|
| 5-year variable rate | 4.40% | 4.55% | 4.45% | 4.45% |
4.65%
|
| HELOC rate | N/A | N/A | N/A | N/A | N/A |
| Stress test | 5.25% | 5.25% | 5.25% | 5.25% | N/A |
North York, a former city and township, is one of the six administrative districts of Toronto. Due to its proximity to Downtown Toronto through various transit options, North York attracts many homebuyers. North York is also home to significant institutions including York University, Seneca College of Applied Arts and Technology, the Ontario Science Centre, Black Creek Pioneer Village and the Ford Centre for the Performing Arts, as well as plenty of green space and parks. It is also home to renowned North York General Hospital and prior to amalgamation with Toronto, had the second-largest manufacturing base in Ontario.
The Don Valley Parkway, a 15-km-long expressway stretching from the Gardiner Expressway in Downtown Toronto to Highway 401, is one of the most vital transit arterial roads connecting the north and south ends of the city.
The communities comprising North York are Newtonbrook, Don Valley Village, Willowdale, Lansing, Bayview Village, York Mills, Don Mills, Glen Park, Downsview, Humber Summit, Humberlea, among others.
North York also boasts of Bridle Path, often referred to as “Millionaires Row” because of the presence of luxury homes there, including Canadian rapper Drake’s house. This exclusive enclave of luxury homes sells for well in excess of a couple of million dollars and is surrounded by the Don River Valley and lush parkland.
The Greater Toronto Area has witnessed home sales and the average selling price to be above last year’s June level. However, uncertainty still looms with the Bank of Canada increasing overnight rate and tightening borrowing costs. Home sales are expected to be hampered by higher borrowing costs, inflation and lack of inventory in the housing market. A resilient economy, tight labour market and record population growth kept home sales well above last year’s lows.
Following is a compilation of North York communities and the average selling price of houses in Q1 2023 in comparison with Q1 2022.
| Community | Average Home Price in Q1, 2023 | Average Home Price in Q1, 2022 |
|---|---|---|
| Lansing-Westgate | $1,296,634 | $1,461,673 |
| Newtonbrook West | $1,333,156 | $1,398,642 |
| Westminster-Branson | $735,241 | 913,298 |
| Willowdale West | $1,057,462 | $1,310,182 |
| Flemingdon Park | $549,380 | $654,945 |
| Bridle Path-Sunnybrook-York Mills | $3,754,571 | $4,723,441 |
| Victoria Village | $906,361 | $1,068,795 |
| Banbury-Don Mills | $1,251,277 | $1,552,053 |
| Newtonbrook East | $1,084,069 | $1,271,193 |
| Willowdale East | $1,069,125 | $1,216,075 |
| Bayview Village | $1,037,755 | $1,053,645 |
| Don Valley Village | $964,918 | $1,091,219 |
| Henry Farm | $704,694 | $783,342 |
| Humber Summit | $828,026 | $1,081,384 |
| Humberlea-Pelmo Park W5 | $770,020 | $1,219,636 |
| Downsview-Roding-CFB | $836,765 | $979,004 |
| Brookhaven-Amesbury | $816,967 | $1,103,583 |
| Yorkdale-Glen Park | $740,522 | $813,316 |
Source: Toronto Regional Real Estate Board Community Market Reports
The average selling price of homes in the City of Toronto is $1,152,424 with 5,789 new listings in June 2023. Some communities of North York fall under the Toronto West neighbourhood and others come under Toronto Central. The average selling price of a house in Toronto West is $1,080,772, while in Toronto Central, the average selling price is $1,220,214.
The average monthly payments for new mortgage loans and average value of new mortgage loans in Toronto are reflective of how North York mortgage market has been doing as well, since it’s a part of the GTA.
| Geography | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | Q1 2023 |
| Canada | $361,001 | $366,163 | $363,654 | $325,612 | $320,298 |
| Ontario | $448,031 | $462,494 | $462,701 | $418,808 | $406,421 |
| Toronto | $538,547 | $556,881 | $567,448 | $504,497 | $482,933 |
| Geography | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | Q1 2023 |
| Canada | $1,594 | $1,722 | $1,909 | $1,923 | $1,984 |
| Ontario | $1,897 | $2,099 | $2,392 | $2,449 | $2,494 |
| Toronto | $2,208 |