Realistically, the only two things that matter are the purchase price and the size of the down payment.In Vancouver and Toronto it is impossible for anyone who is not earning a six figure income annually to buy a new house.  To acquire enough of a down payment to even qualify for a mortgage let alone not having to pay it for an eternity essentially requires that members of several different families pool practically every last cent of their hard earned life long savings or, failing that , a huge inheritance ..Interest rates and the ratio of principal to interest are just minor quibbles.