The monthly mortgage on an average Markham home (about $1,200,000) is roughly $5,336 at a ~4.5% rate with 20% down over 25 years.
The monthly mortgage payment on an average Markham home ($1,200,000) is about $5,336 at a ~4.5% rate, 20% down, 25-year amortization. At 5.5% it rises to about $5,895. Payments move with the Bank of Canada rate. Illustrative, not a quote.
Same Markham home, 20% down, 25-year amortization — only the rate changes:
| Rate | Monthly payment |
|---|---|
| 4.0% | $5,067 |
| 4.5% | $5,336 |
| 5.0% | $5,612 |
| 5.5% | $5,895 |
| 6.0% | $6,185 |
Variable-rate mortgages follow the prime rate, which tracks the Bank of Canada. Fixed rates follow bond yields. Watch the live rate and the next decision. A high-priced GTA tech-and-family hub with strong demand and limited supply.
About $5,336 at ~4.5% with 20% down over 25 years (illustrative).
A bigger down payment, a longer amortization, or a lower rate all reduce the monthly payment. See how to lower your payment.