Manitoba Mortgage Rates

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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
Rates From
Payments as low as
1 Year Fixed
$1678 /mo
2 Year Fixed
$1678 /mo
3 Year Fixed
$1678 /mo
4 Year Fixed
$1678 /mo
5 Year Fixed
$1678 /mo
5 Year Variable
$1678 /mo
$1678 /mo

*Illustration purposes only. Use our Mortgage Calculator for accurate payments.

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The best mortgage rates in Manitoba

Our True North Mortgage brokers can offer you the best mortgage rates in Manitoba — along with exceptional, unified service. We know the area best, and because of our in-depth knowledge, we're able to analyze your unique situation and help you find the best possible lender for your needs.

As the top-rated mortgage brokers in Manitoba, we work hard to handle all the details for you, plus offer you the lowest possible rate through our volume discounts.

Call us, or apply online today.

The Manitoba real estate outlook

Manitoba's real estate market is currently seeing very high demand. Despite the economic challenges of the COVID-19 pandemic, the quest for more space or a yard upgrade is driving prices and bid competition up, with listings currently selling over asking price. The Manitoba Real Estate Association believes that more inventory may start showing up, as vaccinations increase and restrictions decrease — though higher housing prices may stick around for the next while.

Calculating mortgage rates in Manitoba

With the latest regulations that affect all Canadians, not everyone can obtain the lowest advertised rates. You now have to qualify for your rate, which is impacted by details such as your credit score, amortization period and the purpose of the property.

Higher qualifying rates may also apply for mortgages with amortization periods greater than 25 years, or if you plan on purchasing a property either solely as an investment or if you do not plan on personally living in the home.

At True North Mortgage, our brokers work with you to determine what range of mortgage rates you can expect for your situation. With the help of our online tools, such as our mortgage payment calculator, we can present scenarios in a simplified format, to help you choose the best mortgage solution for your situation.

Mortgage insurance in Manitoba

Mortgage default insurance protects lenders against the risk of a borrower defaulting, and because the lender's risk is mitigated, it allows them to offer lower interest rates and lower down payment requirements on these mortgages.

In Manitoba, as is standard throughout the rest of Canada, it is necessary to purchase mortgage insurance if you buy a home with less than a 20% down payment. Commonly referred to as CMHC, for the Canada Mortgage and Housing Corporation, this type of insurance can also be acquired from Canada Guaranty or Sagen.

Historic mortgage rates in Manitoba

There are two different interest rate options when choosing a mortgage: fixed and variable. A fixed-rate mortgage means the rate is locked-in at the time the loan is initiated, and the payments remain the same over the mortgage term. A variable-rate mortgage has a fluctuating interest rate that can change over time, and is often lower but provides less stability for determining payments.

Five-Year Fixed Rate

2019 - 2.84%

2018 - 3.17%

2017 - 2.79%

Five-Year Variable Rate

2019 - 2.71%

2018 - 2.33%

2017 - 2.00%

The best of bank and broker — we're here to help.

Whether you're buying a new home, refinancing or renewing, the mortgage process can be difficult and time-consuming.

At True North Mortgage, our highly-trained mortgage specialists are dedicated to going above and beyond to help you get best mortgage fit, and to make the process as simple as possible. We deal with accredited lenders for you, find the right product for your situation, and pass along our volume discount to help get your rate (that you qualify for) even lower.

We're here for you — over email, over the phone or through our online chat. If you prefer, one of our mobile brokers can even come to you.

Manitoba 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.