The stronger your financial profile, the more likely you are to get the best interest rates available. Your financial profile is comprised of a number of various components. Most important is your credit score which shows the lender your repayment habits. If you have any derogatory credit reporting on your credit report the lender wants to know what happened and at the same time being comfortable that you have taken appropriate steps to ensure it will not happen again.
Other considerations are how long you have been with your current employer and how many times you have changed residences within the last 3 years. When you have good employment and residential stability, the lender perceives this as a positive as you are likely to not make any big changes to your financial profile, which lessens the likelihood of payment defaults. Lastly, demonstrated savings habits are a definite positive in showing the lender you are planning for the future.
More detailed information about how you can get best rates can be found on our slideshare Best Mortgage Rates Edmonton.