Manitoba Mortgage Rates
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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 0.18% 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!).
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Mortgage Rate Forecast (2025-2027)
Continually updated. Where rates may go now and later — and what’s driving them.
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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.
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With us, your rate hold is free with no obligation. Contact us or apply online today.
Historical Mortgage Rates
For Manitoba - Last Updated Oct 02 2025
5 Year Fixed Rate
3.69% - 5%
2025 (average)
4.05%
5.54%
September
3.97%
5.49%
August
4.07%
5.49%
July
4.14%
5.49%
June
4.09%
5.49%
May
4.09%
5.49%
April
3.94%
5.49%
March
3.89%
5.54%
February
4.04%
5.69%
January
4.24%
5.69%
2024 (average)
4.59%
6.31%
December
4.24%
5.69%
November
4.24%
5.69%
October
4.24%
5.69%
September
4.27%
5.77%
August
4.47%
5.79%
July
4.64%
5.79%
June
4.69%
6.89%
May
4.79%
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
3.6% - 5%
2025 (average)
4.14%
5.08%
September
3.85%
5.00%
August
4.10%
5.00%
July
4.10%
5.00%
June
4.10%
5.00%
May
4.10%
5.00%
April
4.10%
5.00%
March
4.10%
5.00%
February
4.35%
5.25%
January
4.44%
5.44%
2024 (average)
5.52%
6.75%
December
4.35%
5.50%
November
4.85%
5.95%
October
5.10%
6.20%
September
5.25%
6.45%
August
5.50%
6.70%
July
5.50%
6.70%
June
5.75%
7.05%
May
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 markets worth a look (and a stay).
This August 2025, Manitoba's housing market recorded a 2.4% decline in provincial average home sales — marking the first decrease since the beginning of the year. Brandon and Winnipeg contributed to the decline, with home sales decreasing by 5.9% and 2%, respectively, while Portage la Prairie saw a 9% increase.Â
Despite the sales decline, the province's consecutive months of high demand are likely behind the average home price increase of 8.9% (year-over-year) to $396,776. Portage La Prairie recorded a robust price increase of 68.9%, while Brandon and Winnipeg saw gains of 12.8% and 8.1%, respectively.Â
New listings declined in all centres. Brandon experienced the biggest dip of 9.6%, followed by Portage La Prairie's 8.3% and Winnipeg's 1.2%.Â
The provincial SNLR came in at 71%, solidly in seller's market territory, primarily due to Portage La Prairie's (very) high SNLR (sales-to-new-listings ratio) of 109%. This stunning number is due to a sudden spike in home sales without a corresponding increase in listings to balance out the activity. Brandon and Winnipeg also indicated strong seller's markets, recording SNLRs of 72% and 71%, respectively.Â
Overall, Manitoba's housing markets offer more affordable housing compared to more expensive centres in British Columbia, Alberta, and Ontario. Will the U.S. trade turmoil keep sellers on hold this fall? With mortgage rates freshly lower, Manitobans may decide the wait is over to make their next (home) move.
See more housing stats
Read our Housing Market Forecast (2025-2027)
Read our Rate Forecast (2025-2027)
Data Source: Sagen Housing Market Updates
The 'rate' advice you can count on
Variable vs Fixed Mortgage Rates
Which rate type works best for you, variable or fixed? Some pros and cons to help you decide.
Worried about your renewal?
Higher rates painting you into a budget corner? Get help to find a way out.
Complex Mortgages
Don't fit the mortgage mold? We may have the right solution to help you move on.
Come home to your best mortgage rate.
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 — online, over the phone or at our store locations.
British Columbia
- Abbotsford ,
- Burnaby ,
- Chilliwack ,
- Coquitlam ,
- Courtenay ,
- Kamloops ,
- Kelowna ,
- Nanaimo ,
- New Westminster ,
- Prince George ,
- Richmond ,
- Saanich ,
- Surrey ,
- Vancouver ,
- Vernon ,
- Victoria ,
- White Rock
Alberta
- Airdrie ,
- Calgary ,
- Edmonton ,
- Fort McMurray ,
- Grande Prairie ,
- Lethbridge ,
- Lloydminster ,
- Medicine Hat ,
- Red Deer
Saskatchewan
Manitoba
Ontario
- Barrie ,
- Belleville ,
- Brampton ,
- Brantford ,
- Burlington ,
- Cornwall ,
- Guelph ,
- Hamilton ,
- Kanata ,
- Kingston ,
- Kitchener ,
- London ,
- Markham ,
- Milton ,
- Mississauga ,
- Niagara Falls ,
- North Bay ,
- Oakville ,
- Oshawa ,
- Ottawa ,
- Peterborough ,
- Sarnia ,
- Sault Ste. Marie ,
- St. Catharines ,
- Sudbury ,
- Thunder Bay ,
- Toronto ,
- Vaughan ,
- Windsor ,
- Woodstock
Quebec
Atlantic Canada
- Charlottetown ,
- Fredericton ,
- Halifax ,
- Moncton ,
- Saint John ,
- St. John's