Atlantic Canada Mortgage Rates
5 Year
-
Fixed
Term from
1.89%
Apply for your TrueRate in minutes.
Rules have changed. Everyone's rate is unique.
Canadian regulations have changed the way mortgages work. You must now qualify for your rate. Factors like equity in your home and personal credit will impact the rate.
Get Your Best Rate
Mortgage
Size
Size
Term
Rates From
Payments as low as
1 Year
Fixed
1.79%
$1678
/mo
2 Year
Fixed
1.49%
$1678
/mo
3 Year
Fixed
1.49%
$1678
/mo
4 Year
Fixed
1.69%
$1678
/mo
5 Year
Fixed
1.89%
$1678
/mo
5 Year
Variable
1.35%
$1678
/mo
HELOC
Open
2.95%
$1678
/mo
*Illustration purposes only. Use our Mortgage Calculator for accurate payments.
-
If you don’t meet the requirements of our lowest advertised rate, don’t worry we still have you covered with great low rate options! The above range represents realistic rates if you don’t meet the outlined criteria. Factors like equity in your home, credit rating, and other variables will impact your final rate and True North Mortgage is committed to providing you with the best rate regardless of these factors.
Additional premiums may apply to rentals, extended amortizations, non-standard properties and alternative lending options.
We'll beat any competitor's offer
Highly-trained Mortgage Brokers, at your service.
At True North Mortgage, our experienced mortgage brokers understand that every mortgage situation is unique. Highly-trained and friendly, we're ready to help you find the perfect solution for your needs.
Our 5-star customer service — combined with our impressive rates — is the reason we are the best-rated mortgage brokers in Atlantic Canada.
We know your area the best, and our large volume allows us to get better rates than any of our competitors.
At True North Mortgage, we can offer the best mortgage rates possible in Atlantic Canada, and we are so confident in our mortgage specialists that if you find a lower rate on a similar mortgage, we’ll beat it or give you $500 cash.
Apply now for your lowest possible rate.
The real estate market in Atlantic Canada
The housing market in Atlantic Canada is exploding in a whirlwind of demand, largely due to the effects the coronavirus pandemic has had on the buyer's intent to find more space and living comfort, including increased out-of-province interest. Low inventory, a previously undervalued market compared to larger Canadian centres, plus historically low interest rates are helping the push, and experts expect this current trend to remain on course for the next few months.
Calculating mortgage rates in Atlantic Canada
While certain regulations are standard across Canada, rates can vary based on location. You must qualify for your mortgage rate, and factors like personal credit and equity in a current home can impact the rates offered.
The rate will also vary depending on the purpose of the mortgage. Rates are higher on a property that you do not plan to live in personally. As a result, the lowest advertised rates on the internet may not be available to everyone. We will work closely with you to analyze your financial situation and determine which products are most suitable for you. We can also tell you what range of mortgage rates you should expect.
If you’re just starting your research, check out our online tools, such as our mortgage calculators, or contact us and we can help outline the details for you.
What mortgage insurance is available?
To purchase a home in Canada you must have a minimum down payment of 5%, and the maximum loan term is 25 years.
If you buy a home with a down payment of less than 20%, you are required to purchase mortgage default insurance.
Mortgage default insurance, also referred to as CMHC (Canada Mortgage and Housing Corporation), protects lenders from a consumer defaulting on their loan. This insurance allows lenders to offer lower mortgage rates and down payment requirements.
The premiums for this insurance are an added cost to you, and the amount is calculated based on a percentage of the total mortgage amount.
While CMHC is the most commonly known mortgage insurance provider, you can also find insurance through Canada Guaranty or Sagen Financial.
Mortgage rates in Atlantic Canada
There are two different types of mortgage rates: variable and fixed. The interest on fixed-rate mortgages is set when the loan is initiated and will not change, while the interest on variable-rate mortgages may go up and down, depending on benchmark rate movement.
Here are historical mortgage rates for Atlantic Canada:
Five-Year Fixed Rate
2019 - 2.85%
2018 - 3.17%
2017 - 2.57%
2016 - 2.28%
Five-Year Variable Rate
2019 - 2.74%
2018 - 2.39%
2017 - 1.94%
2016 - 1.96%
How we partner with clients and lenders
Finding a mortgage on your own can be difficult. There are an overwhelming number of options to choose from and many online tools can be misleading or lack important information. We can help.
At True North Mortgage, our brokers are dedicated to going above and beyond to help you secure the best possible mortgage rate and product for your situation.
In fact, we're confident that we can find you the best rate regardless of whether you are purchasing, renewing, or refinancing — thanks to the strong relationships we have built with our lenders throughout the years.
Our mortgage specialists work hard to understand your specific financial situation and goals, which will allow us to match you to the right lender.
We know that buying a home is so much more than just getting the best rate. We're also here to help take the stress of our completing your mortgage. From beginning to end — we've got this.
Atlantic Canada Mortgage Rates
Mortgage Rates are different across Canada. Rates are shown based on your location. If you are planning to purchase out-of-province, be sure to choose rates where the property will be located.
Canada Wide Mortgages
True North Mortgage can complete mortgages anywhere in Canada efficiently over the phone.