Best mortgage rates in Markham.
Today’s best rate in Markham is 3.44%. We compare Markham mortgage rates across 100+ Canadian lenders and lock your best on one application — no bureau pull to start.
The lowest rate on today’s board for Markham is 3.44%. On the average price of $1,208,692, 20% down and the best 5-year fixed come to about $5,160/month; the smallest legal down payment is $95,870, plus $20,649 of Ontario land transfer tax at closing. Tech corridor + investor-heavy, with a large Mandarin- and Cantonese-speaking buyer base.
Meridian Credit Union Best5-year variable3.44%Apply Meridian Credit Union5-year variable3.44%Apply 
Radius Financial3-year variable3.55%Apply Radius Financial3-year variable3.55%Apply 
Marathon Mortgage Corp0.5-year fixed3.64%Apply Marathon Mortgage Corp0.5-year fixed3.64%Apply 
Desjardins5-year variable3.70%Apply 
TD Canada Trust3-year variable3.97%Apply Rates illustrative; your file (credit, income, LTV) sets your personalized rate. See all Ontario rates →
Financing a $1,208,692 home in Markham
Markham's average price sits 24% below the $1,500,000 insurance line, so an above-average purchase can cross it — and past the line the minimum is 20%, not the tiered amount. At the average price itself, choosing 20% down over the minimum means $145,869 more cash and no $44,513 premium.
On the 20%-down loan, variable is $363 a month cheaper than fixed today.
| At $1,208,692 | Minimum down | 20% down |
|---|---|---|
| Down payment | $95,870 | $241,739 |
| CMHC premium | $44,513 | None |
| Mortgage | $1,157,335 | $966,953 |
| Monthly, 5-yr fixed 4.14% | $6,176 | $5,160 |
| Monthly, 5-yr variable 3.44% | $5,742 | $4,797 |
| Stress-test payment at 6.14% | $7,501 | $6,267 |
25-year amortization, Canadian semi-annual compounding, best rates on today’s board. The stress test qualifies you at the greater of the contract rate plus 2 points or 5.25%. Illustrative, O.A.C. Model your own numbers in the payment calculator.
Land transfer tax on a Markham purchase
Markham is outside the City of Toronto, so only Ontario's land transfer tax applies — $20,649 on a $1,208,692 purchase.
The first-time-buyer refund is capped at $4,000, which here covers only 19% of the tax; a first-time buyer still owes $16,649.
All told, the minimum cash to close at this price — before legal fees, title insurance and adjustments — is about $116,519. Check other prices in the land transfer tax calculator.
The Markham market behind your rate
The $1,208,692 figure is Markham’s average price for August 2026 (the latest we have sourced), from Markham average selling price, TRREB Market Watch.
Our Markham guide works through the 3 questions that decide most files here:
- Markham straddles the $1.5-million line almost exactly. Few GTA markets sit as close to the mortgage-insurance boundary as Markham does.
- Pre-construction and assignment files along the Highway 7 corridor. Markham's condo pipeline generates a steady stream of files that look nothing like a resale purchase, and three features catch buyers.
- An illustrative Markham file: forty thousand dollars, one hundred and eighty thousand in cash. This is an illustrative composite built from the rules above — not a specific client, and not a guaranteed outcome.
How Markham neighbourhoods change the file
In 2 of these 8 Markham pockets the deciding rule is the $1,500,000 insurance ceiling — above it, 20% down is the legal minimum rather than a choice.
Unionville
Heritage core, executive detached, some condoHeritage-designated properties carry alteration restrictions an appraiser and insurer both weigh, and the surrounding executive stock frequently clears $1.5M — uninsurable, 20% down as the legal minimum.
Cathedraltown
Newer detached and townhouse (planned community)Recent build-out with a common-elements fee on much of the townhouse stock. Freehold title with a monthly fee is a hybrid: the fee still counts in your debt-service ratios even though nobody holds a condo corporation over you.
Berczy Village
2000s detached and semi subdivisionConsistent vintage across the pocket makes the appraisal straightforward. Prices commonly sit just below the $1.5M ceiling, so whether a particular purchase can be insured is worth confirming before you set your down payment.
Cornell
New-urbanist detached, town and laneway stockRear-lane garages and narrow lots are a distinct built form, and some lenders read laneway-access properties more conservatively on resale. Purpose-built secondary suites are common and need to be legal before their rent counts.
Wismer
2000s detached family subdivisionUniform newer stock that appraises predictably. Enough time has passed since build-out that renewals and equity take-outs now outnumber first purchases here, all capped at 80% loan-to-value.
Box Grove
Newer detached and townhouseLate build-out on the eastern edge. Builder purchases dominate the resale-adjacent stock, and on those the deposit structure, interim occupancy and final closing date drive the rate hold — not the day you signed.
Markham Village
Heritage detached and older freeholdCentury and mid-century houses in the historic core: wiring, plumbing and roof age drive appraisal conditions, and heritage designation can restrict alterations in a way that affects both the appraisal and your insurance.
Milliken Mills
1980s detached, semi and townhouseThe most consistently insurable band in Markham, and a deep pool of comparable sales in every quarter. Multi-generational purchases are common and lenders differ on how they treat a co-borrower who will not occupy the home.
This page is the rate-shopping side. For pre-approval strategy, document help and a dedicated advisor, see our Markham mortgage broker page.
