Our 3.99% 6-Mo Fixed is the lowest mortgage rate available in Canada.

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: May 22, 2024

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. And they're not as flexible.

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, whether your needs are straightforward or more complex, that can also save you money now and 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 May 16 2024

5 Year Fixed Rate

4.79% - 6.89%

  2024 (average)

4.86%

6.89%

  April

4.84%

6.89%

  March

4.79%

6.89%

  February

4.92%

6.89%

  January

4.90%

6.89%

  2023 (average)

5.03%

6.33%

  December

5.12%

6.89%

  November

5.44%

6.89%

  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%

  2024 (average)

5.99%

7.30%

  April

5.99%

7.30%

  March

5.99%

7.30%

  February

5.99%

7.30%

  January

5.99%

7.30%

  2023 (average)

5.77%

6.96%

  December

5.99%

7.30%

  November

5.99%

7.30%

  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 worth a look (and a stay).

Housing markets across Manitoba saw Q1 2024 sales strengthen by about 15% over this time last year. Both Winnipeg and Brandon sales were up (Portage La Prairie was down), though the provincial sales average is still slightly below the 10-year average.

Sellers are still on the sidelines across most of the province, likely waiting for interest rate drops to materialize and make a move less expensive, producing marginal seller's markets with less inventory-to-buyers on the books.

The provincial average home price increased by 6.0% year-over-year to $349,498, with price increases in Winnipeg (+6.0%), Brandon (+4.0%), and Portage La Prairie (+15.0%). Canada has seen record immigration numbers in the past couple of years — will the affordability of this friendly province attract those looking for a lot more home at much less cost?

Data Source: Sagen Housing Market Updates

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