Current Manitoba Mortgage Rates

Rates updated as of December 3, 2020 11:01:02

Nesto Mortgage Rates

TermFixed
1-YR1.71%Mortgage financing companyGet this rateCompare all rates
2-YR1.69%Mortgage financing companyGet this rateCompare all rates
3-YR1.63%Mortgage financing companyGet this rateCompare all rates
4-YR1.68%Mortgage financing companyGet this rateCompare all rates
5-YR1.49%Mortgage financing companyGet this rateCompare all rates
6-YR2.59%Big bankGet this rateCompare all rates
7-YR2.18%Mortgage financing companyGet this rateCompare all rates
10-YR2.79%Mortgage financing companyGet this rateCompare all rates
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TermVariable
1-YRNo rates at the moment
2-YRNo rates at the moment
3-YR1.99%Get this rateCompare all rates
4-YRNo rates at the moment
5-YR1.50%Mortgage financing companyGet this rateCompare all rates
6-YRNo rates at the moment
7-YRNo rates at the moment
10-YRNo rates at the moment
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Broker Mortgage Rates

TermFixed
1-YR1.74%First NationalGet this rateCompare all rates
2-YR1.69%MCAPGet this rateCompare all rates
3-YR1.69%MCAPGet this rateCompare all rates
4-YR1.74%First NationalGet this rateCompare all rates
5-YR1.69%First NationalGet this rateCompare all rates
7-YR2.34%CMLS FinancialGet this rateCompare all rates
10-YR2.95%First NationalGet this rateCompare all rates
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TermVariable
1-YRNo rates at the moment
2-YRNo rates at the moment
3-YR2.45%CMLS FinancialGet this rateCompare all rates
4-YRNo rates at the moment
5-YR1.65%CMLS FinancialGet this rateCompare all rates
7-YRNo rates at the moment
10-YRNo rates at the moment
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Mortgage Rates with HELOC

TermFixed
1-YR2.54%HELOC ratePrime +1.00%ScotiabankGet this rateCompare all rates
2-YR2.34%HELOC ratePrime +1.00%ScotiabankGet this rateCompare all rates
3-YR2.24%HELOC ratePrime +1.00%ScotiabankGet this rateCompare all rates
4-YR2.19%HELOC ratePrime +1.00%ScotiabankGet this rateCompare all rates
5-YR1.84%HELOC ratePrime +1.00%MCAPGet this rateCompare all rates
7-YR2.54%HELOC ratePrime +1.00%ScotiabankGet this rateCompare all rates
10-YR2.94%HELOC ratePrime +1.00%ScotiabankGet this rateCompare all rates
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TermVariable
1-YRNo rates at the moment
2-YRNo rates at the moment
3-YR3.20%HELOC ratePrime +1.00%ScotiabankGet this rateCompare all rates
4-YRNo rates at the moment
5-YR1.70%HELOC ratePrime +1.00%ScotiabankGet this rateCompare all rates
7-YRNo rates at the moment
10-YRNo rates at the moment
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Bank Mortgage Rates

TermVariable
1-YRNo rates at the moment
2-YRNo rates at the moment
3-YR2.00%Get this rateCompare all rates
4-YRNo rates at the moment
5-YR1.70%ScotiabankGet this rateCompare all rates
6-YRNo rates at the moment
7-YRNo rates at the moment
10-YRNo rates at the moment
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About Manitoba

Manitoba is a Canadian province bordered by Ontario to the east and Saskatchewan to the west. Its landscape of lakes and rivers, mountains, forests and prairies stretches from northern Arctic tundra to Hudson Bay in the east and southern farmland. Much of its wilderness is protected in more than 80 provincial parks, where hiking, biking, canoeing, camping and fishing are all popular.

Key facts about Manitoba:

  • Winnipeg is the capital and largest city of Manitoba. The city is named after the nearby Lake Winnipeg. The name comes from the Western Cree words for muddy water
  • Manitoba is mostly flat land, with some hills and small mountains southwest
  • Baldy Mountain is the province’s highest point at 832 metres above sea level
  • The province has a 645-kilometre saltwater coastline bordering Hudson Bay and more than 110,000 lakes, covering approximately 15.6% of its surface area
  • More than two-fifths of the province’s land area is forested
  • Riding Mountain National Park is the most popular park in Manitoba. The park sits atop the Manitoba Escarpment. Consisting of a protected area spanning 2,969 square kilometres, the forested parkland stands in sharp contrast to the surrounding prairie farmland. It was designated a national park because it protects three different ecosystems that converge in the area – grasslands, upland boreal and eastern deciduous forests

 

About the Manitoba Housing Market

While the Winnipeg housing market remained strong in the first two weeks of March, the province saw a decline in home sales between April and May due to COVID-19 lockdowns. Activity bounced back by the end of June and into July, however, paving the way for recovery. With low inventory and pent-up demand in Winnipeg, prices for both single detached homes and condominiums increased by 5% between Q2 and the beginning of Q3. Consumer confidence is high in the region, and RE/MAX expects prices to remain stable, with a 2% increase in prices for all property types projected in Winnipeg for the remainder of 2020.

 

What are the Different Types of Mortgages?

  • Fixed Mortgages. Fixed-rate mortgages make up 70% of all mortgages in Canada. A fixed-rate mortgage keeps your interest rate steady over the term of your mortgage (1-10 years). There’s no doubt that the five-year fixed-rate mortgage is the most common choice selected by Canadian homeowners. But, this isn’t the best option for everyone, regardless of its popularity. Fixed-rate mortgages appeal to homebuyers who are looking for a dependable payment schedule, manage a tight monthly budget or are generally more conservative. For instance, Millennials with large mortgages relative to their income may be better off opting for the peace of mind provided by a fixed rate and payments. 
  • Variable Mortgages. A variable-rate mortgage fluctuates with the lender’s prime rate throughout your mortgage term. While your mortgage payment will remain the same over your term, your interest rate may change based on market conditions. So, if the prime rate rises or falls, this impacts the amount of principal you pay off each month. When rates on variable-rate mortgages drop, more of your payment is applied to your principal balance. And, conversely, if rates increase, more of your payment will go towards the interest portion of your mortgage. Historically, variable rates have paid off for Canadians over time.

 

How nesto Works

We offer all the help of a mortgage broker, without the commission. Simply put, our salaried mortgage advisors are rewarded based on your satisfaction. We’re here to help you reach your goal and guide you through the complicated world of home financing. #yesyoucan #empowermentisthenewsexy

Every mortgage professional knows the market’s best rates every time they check their email. Only a few of them will give you that rate without making you work for it. nesto’s here to change the industry for this very reason. You always get the best rate upfront with nesto.

Manitoba Mortgage payment calculator