Manitoba Mortgage Rates

Looking for the best mortgage rates in Manitoba?

We've got the budget-friendliest rates around, and the service to match (that can save you thousands). Apply online or call us today.

Last Updated: Dec 01, 2023

Find a better rate? We'll match it

Your best mortgage rates in Manitoba help you spend less on owning a home.

Which can leave you more cash for other things — like new furniture, a deck or a furnace upgrade.

At True North Mortgage, our expert, friendly mortgage brokers get you a better rate. We regularly beat out competitors by an average of 0.20% and have for years.

We do huge volume and pass along a rate discount. Plus, our unbiased advice comes from access to several accredited lenders and thousands of products — which just happens to be how we can quickly sort through the 'lender noise' to find your best rate.

Why go to your bank? Their rates are higher.

You can get a better rate AND mortgage through us, sometimes with your bank.

Whether you prefer a fixed or variable rate, we'll take you through all the details, quickly and simply, so that you can make clear decisions for your mortgage goals.

We know the area, and we're able to analyze your unique situation and help you find the right lender for your needs. Along with your best rate, you'll get flexible mortgage options that can also save you money later when it's time to renew or refinance (think pre-payment penalties!).

Give us a shout, or apply online today.

Your better rate comes with a simpler mortgage process.

As the top-rated mortgage brokers in Manitoba, we work hard to handle all the details for you, along with getting your lowest-possible rate (for which you qualify).

Your mortgage is made simple, no matter your details. We answer all your questions and get the deal done on time. Add your mortgage rate savings to the equation — and there's no better mortgage service out there.

Check out our 5-star reviews to see what our amazing clients have to say! Get in touch with us online, over the phone, or one of our Mobile Brokers can come to you.

Rates change. We can hold yours today.

Mortgage rates in Manitoba can change at any time. If you're thinking of buying a home or need to renew or refinance — get a fast pre-approval today to hold your best rate.

If rates go up, you're protected and if they go down, your broker ensures your rate hold reflects the decrease. Plus, mortgages are all we do, and you'll get great advice on the right lender and product with your great rate to help you save more.

With us, your rate hold is free with no obligation. Contact us or apply online today.

Historical Mortgage Rates

For Manitoba - Last Updated Nov 10 2023

5 Year Fixed Rate

5.24% - 6.89%

  2023 (average)

4.98%

6.22%

  October

5.62%

6.89%

  September

5.47%

6.89%

  August

5.37%

6.89%

  July

5.19%

6.39%

  June

4.92%

5.95%

  May

4.57%

5.84%

  April

4.84%

5.84%

  March

4.65%

5.84%

  February

4.67%

5.84%

  January

4.49%

5.84%

  2022 (average)

4.03%

4.82%

  December

4.69%

5.82%

  November

4.92%

5.74%

  October

5.01%

5.70%

  September

4.44%

5.54%

  August

4.34%

5.54%

  July

4.52%

5.54%

  June

4.37%

5.10%

  May

3.89%

4.66%

  April

3.72%

4.23%

  March

3.14%

3.64%

  February

2.74%

3.20%

  January

2.52%

3.07%

  2021 (average)

1.89%

2.42%

  December

2.39%

2.94%

  November

2.37%

2.91%

  October

2.12%

2.56%

  September

1.84%

2.39%

  August

1.79%

2.39%

  July

1.79%

2.39%

  June

1.79%

2.39%

  May

1.79%

2.39%

  April

1.89%

2.39%

  March

1.89%

2.29%

  February

1.62%

2.06%

  January

1.43%

1.99%

  2020 (average)

2.03%

2.43%

  December

1.49%

1.99%

  November

1.59%

1.99%

  October

1.62%

2.04%

  September

1.77%

2.05%

  August

1.82%

2.22%

  July

1.89%

2.39%

  June

1.99%

2.42%

  May

2.23%

2.65%

  April

2.43%

2.88%

  March

2.35%

2.68%

  February

2.49%

2.86%

  January

2.64%

3.01%

  2019 (average)

2.78%

3.09%

  December

2.58%

2.93%

  November

2.40%

2.92%

  October

2.52%

2.94%

  September

2.53%

2.85%

  August

2.59%

2.79%

  July

2.59%

2.84%

  June

2.66%

2.90%

  May

2.84%

3.09%

  April

2.92%

3.19%

  March

3.15%

3.37%

  February

3.32%

3.58%

  January

3.30%

3.69%

  2018 (average)

3.15%

3.62%

  December

3.39%

3.80%

  November

3.40%

3.83%

  October

3.22%

3.67%

  September

3.19%

3.67%

  August

3.19%

3.66%

  July

3.14%

3.61%

  June

3.14%

3.61%

  May

3.14%

3.61%

  April

3.00%

3.54%

  March

3.00%

3.54%

  February

3.07%

3.48%

  January

2.92%

3.38%

  2017 (average)

2.79%

3.29%

  December

2.79%

3.29%

  November

2.72%

3.29%

  October

2.87%

3.29%

  September

2.76%

3.16%

  August

2.59%

2.99%

  July

2.56%

2.78%

  June

2.39%

2.49%

  May

2.24%

2.54%

  April

2.34%

2.67%

  March

2.39%

2.72%

  February

2.39%

2.72%

  January

2.44%

2.74%

  2016 (average)

2.34%

2.56%

  December

2.42%

2.69%

  November

2.25%

2.47%

  October

2.24%

2.39%

  September

2.34%

2.49%

  August

2.34%

2.49%

  July

2.34%

2.49%

  June

2.34%

2.49%

  May

2.34%

2.59%

  April

2.34%

2.59%

  March

2.34%

2.69%

  February

2.39%

2.69%

  January

2.44%

2.69%

  2015 (average)

2.45%

2.66%

  December

2.47%

2.69%

  November

2.47%

2.69%

  October

2.34%

2.59%

  September

2.39%

2.59%

  August

2.39%

2.59%

  July

2.39%

2.59%

  June

2.44%

2.59%

  May

2.44%

2.59%

  April

2.44%

2.69%

  March

2.49%

2.69%

  February

2.54%

2.79%

  January

2.59%

2.79%

  2014 (average)

2.88%

3.04%

  December

2.69%

2.89%

  November

2.74%

2.89%

  October

2.74%

2.89%

  September

2.74%

2.89%

  August

2.74%

2.89%

  July

2.79%

2.99%

  June

2.89%

3.04%

  May

2.89%

3.04%

  April

2.97%

3.15%

  March

2.97%

3.15%

  February

3.09%

3.29%

  January

3.29%

3.39%

5 Year Variable Rate

5.99% - 7.3%

  2023 (average)

5.72%

6.89%

  October

5.99%

7.30%

  September

5.99%

7.30%

  August

5.99%

7.30%

  July

6.00%

7.19%

  June

5.75%

6.85%

  May

5.50%

6.60%

  April

5.50%

6.60%

  March

5.50%

6.60%

  February

5.50%

6.60%

  January

5.50%

6.60%

  2022 (average)

2.94%

3.76%

  December

5.25%

6.28%

  November

4.75%

5.70%

  October

4.75%

5.70%

  September

4.25%

4.95%

  August

3.50%

4.45%

  July

3.50%

4.45%

  June

2.46%

3.39%

  May

1.95%

2.75%

  April

1.78%

2.42%

  March

1.13%

1.84%

  February

0.99%

1.65%

  January

0.99%

1.55%

  2021 (average)

1.14%

1.58%

  December

0.99%

1.55%

  November

0.90%

1.55%

  October

1.09%

1.55%

  September

1.09%

1.55%

  August

1.09%

1.55%

  July

1.09%

1.55%

  June

1.19%

1.55%

  May

1.19%

1.55%

  April

1.24%

1.55%

  March

1.24%

1.55%

  February

1.24%

1.65%

  January

1.29%

1.75%

  2020 (average)

1.91%

2.24%

  December

1.38%

1.79%

  November

1.55%

1.80%

  October

1.55%

1.90%

  September

1.63%

1.88%

  August

1.67%

2.00%

  July

1.79%

2.04%

  June

1.79%

2.04%

  May

1.96%

2.23%

  April

2.02%

2.40%

  March

2.24%

2.64%

  February

2.70%

3.10%

  January

2.70%

3.10%

  2019 (average)

2.70%

3.20%

  December

2.70%

3.10%

  November

2.70%

3.10%

  October

2.70%

3.10%

  September

2.70%

3.10%

  August

2.70%

3.10%

  July

2.70%

3.10%

  June

2.70%

3.10%

  May

2.70%

3.20%

  April

2.75%

3.20%

  March

2.75%

3.40%

  February

2.70%

3.45%

  January

2.65%

3.45%

  2018 (average)

2.34%

2.89%

  December

2.65%

3.35%

  November

2.65%

3.25%

  October

2.48%

3.02%

  September

2.40%

2.80%

  August

2.40%

2.80%

  July

2.40%

2.80%

  June

2.15%

2.60%

  May

2.19%

2.55%

  April

2.21%

2.85%

  March

2.21%

2.85%

  February

2.21%

2.85%

  January

2.17%

2.94%

  2017 (average)

2.00%

2.75%

  December

1.98%

2.75%

  November

1.98%

2.75%

  October

2.05%

2.75%

  September

2.15%

2.67%

  August

1.90%

2.50%

  July

1.95%

2.50%

  June

1.75%

2.25%

  May

1.75%

2.25%

  April

1.80%

2.25%

  March

1.80%

2.30%

  February

1.80%

2.30%

  January

2.05%

2.30%

  2016 (average)

2.08%

2.30%

  December

2.05%

2.30%

  November

2.05%

2.30%

  October

2.05%

2.30%

  September

2.05%

2.30%

  August

2.05%

2.30%

  July

2.05%

2.30%

  June

2.05%

2.30%

  May

2.10%

2.30%

  April

2.10%

2.30%

  March

2.10%

2.30%

  February

2.15%

2.30%

  January

2.15%

2.30%

  2015 (average)

1.97%

2.19%

  December

2.10%

2.20%

  November

2.02%

2.13%

  October

1.90%

2.05%

  September

1.90%

2.05%

  August

1.85%

2.05%

  July

1.92%

2.25%

  June

2.05%

2.25%

  May

1.98%

2.25%

  April

1.98%

2.25%

  March

1.98%

2.25%

  February

1.98%

2.25%

  January

1.95%

2.25%

  2014 (average)

2.31%

2.44%

  December

2.10%

2.35%

  November

2.15%

2.35%

  October

2.15%

2.35%

  September

2.20%

2.35%

  August

2.25%

2.35%

  July

2.30%

2.50%

  June

2.40%

2.50%

  May

2.40%

2.50%

  April

2.40%

2.50%

  March

2.40%

2.50%

  February

2.40%

2.50%

  January

2.58%

2.50%

Friendly Manitoba: Affordable market with challenges

Housing markets across Manitoba for 2023 were at the lower end of the sales range, more in line with 2017 volume. Yet, prices in Winnipeg were the highest on record for the summer. Despite the cooling activity, market conditions were still tight with a decline in inventory giving less choice for those out buying. With record immigration numbers coming into Canada, will the affordability of this friendly province — comparing Winnipeg (its major centre) to other large Canadian city centres — attract those looking for more home at less cost?

Come home to your best mortgage rate.