Manitoba Mortgage Rates

Looking for the best mortgage rates in Manitoba?

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Your best mortgage rates in Manitoba

Our True North Mortgage brokers can offer you the best mortgage rates in Manitoba β€” along exceptional, unified service to save you a pile of cash. Why go to your bank, when you can get a better rate AND mortgage through us? 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 best, and because of our in-depth knowledge, 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!).

As the top-rated mortgage brokers in Manitoba, we work hard to handle all the details for you along with your lowest-possible rate (for which you qualify) by passing along our volume discount. Check out our 5-star reviews to see what our clients have to say!

Give us a shout, or apply online today. Our brokers can help with all your mortgage needs, in your preferred language, anywhere you are in Manitoba or Canada.

The Manitoba real estate picture

Manitoba's real estate market is still seeing brisk sales through Fall 2021, surpassing 2020 highs. Despite the inventory challenges brought on by the COVID-19 pandemic, Manitoba's home sellers have continued to put up homes for resale, though prices have risen with increased demand (perhaps spurring on new listings?). Low interest rates, according to the Manitoba Real Estate Association, continue to offer incentive for residents to wade into the market.

Calculating mortgage rates in Manitoba

You'll need to qualify for your best rate through the federal mortgage-rate stress test. That means not everyone can obtain our lowest advertised rates. But, there are many ways we can help you save, PLUS offer better products and flexibility to save you more later (think renewal or refinance!). We'll still get your lowest-possible rate by passing along our volume discount.

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. But, we know all the ins and outs to quickly and simply find the best fit for your mortgage needs.

At True North Mortgage, our highly-trained brokers work with you to determine what range of mortgage rates you can expect for your situation. With the help of our amazing online tools, such as our Mortgage Payment or Compare and Save 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 you lower interest rates and lower down payment requirements on these high-ratio 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. This type of insurance is offered through the Canada Mortgage and Housing Corporation (CMHC), 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.

We'll help you determine the best rate for your situation, and outline the benefits and risks of each type.

We're so much better than your bank β€” and we'll help you save money and time.

Whether you're buying a new home, refinancing or renewing, the mortgage process can be difficult and time-consuming. But that's where we come in!

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 real people who can offer mortgage service in your preferred language. And, we're here for you β€” over email, over the phone or through our online chat.

If you prefer, one of our mobile brokers can even come to you! Give us a shout, today β€” anywhere you are in Manitoba, or Canada.

Historical Mortgage Rates

For Manitoba - Last Updated May 04 2022

5 Year Fixed Rate

3.94% - 4.74%

  2022 (average)

3.03%

3.54%

  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

1.95% - 2.75%

  2022 (average)

1.22%

1.87%

  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%

Manitoba Mortgage Rates

Mortgage Rates are different across Canada. Rates are shown based on your location. If you're planning to purchase out-of-province, be sure to choose rates where the property will be located.

Canada Wide Mortgages

True North Mortgage can efficiently complete your mortgage anywhere you are in Canada β€” online, over the phone or at our store locations.