In May 2026, Ontario's mortgage market shows stable variable rates due to the Bank of Canada's steady overnight rate, but fixed rates remain uncertain amid elevated government bond yields influenced by the Iran war's impact on oil prices and inflation. Fixed rates may rise if the conflict escalates. Home sales are steady with high active listings, causing prices to decline. First-time buyers can access land transfer tax refunds. Mortgage rates depend on economic conditions, bond yields, and personal financial factors.