Mortgage rates across Toronto lenders are not uniform. Each lender determines its rates considering factors like their business approach, risk evaluation, and fund expenses. It's crucial to compare rates from various lenders to secure the most competitive option.

Choosing between a fixed or variable mortgage rate relies on your individual situation and comfort with risk. A fixed rate ensures steady payments, while a variable rate can change with market conditions. Assess your financial objectives and seek advice from a mortgage expert to identify the most suitable choice for your needs.

 Indeed, it's possible for mortgage rates to shift post pre-approval in Toronto. While pre-approval offers an estimated rate based on prevailing market conditions, these rates might vary until the mortgage agreement is finalized. Keeping in contact with your lender and staying updated on rate changes as you approach your mortgage closing is crucial. 

For the most competitive mortgage rate in Toronto, keep these strategies in mind: Compare rates across various lenders to find the best option. Enhance your credit score by timely bill payments and reducing debt. Offer a larger down payment, which could potentially reduce your rate. Engage with a mortgage broker who has access to diverse lenders. Show consistent employment and a dependable income.