Find the Best Mortgage
Rates in Saint Jean Sur Richelieu

As of Wednesday, November 26, 2025, current interest rates in Saint Jean Sur Richelieu are for a 5-year fixed mortgage and for a 3-year fixed mortgage. Shop around for mortgage rates to find the best offer.

Despite home prices in Saint Jean Sur Richelieu remaining lower than the national average, high interest rates continue to make it challenging for Quebecers to qualify for a mortgage. Even higher qualifying rates make it harder for Saint Jean Sur Richelieu residents to afford their mortgage. While it’s almost impossible to predict when rates will come down meaningfully, experts forecast that we should expect a gradual reduction over the next few years. 

Home prices remain high, with CREA reporting that the national average home price decreased 3% year-over-year to $679,600 in October 2025. Quebec’s average price increased 8.3% year-over-year to $535,200. As for Quebec’s largest city, the average selling price of a home in Montreal increased 6.8% year-over-year to $581,500.

Saint Jean Sur Richelieu Mortgage Rate Trends: November 2025

While it’s difficult to predict where mortgage rates will trend, the consensus among experts suggests that we could see rates remain higher for longer. Forecasts suggest we won’t see interest rates return to the neutral rate range of 2 to 3% until the end of 2025. 

Bank of Canada Rate Announcement

The Bank of Canada’s (BoC) latest announcement, made on October 29th, was a policy interest rate cut, lowering the rate to 2.25%. This continues the BoC easing cycle, as economic growth shows signs of slowing. 

The Governing Council decided to reduce the rate due to ongoing economic weakness and inflation that is expected to remain close to the 2% target. Canada’s GDP declined in Q2 due to tariffs and trade uncertainty weighing on economic activity. Employment has declined with job losses concentrated primarily in trade-sensitive sectors. Employment growth has slowed, with weak hiring, and the unemployment rate remained at 7.1% in September.

The next announcement will be on January 28. The bond futures markets are currently pricing in a 86% probability of a rate hold and a 14% probability of a 25 basis point cut.

Real Estate Market Update

On November 17th, the Canadian Real Estate Association (CREA) released its October home sales data. The data showed that home sales increased 0.9% month over month, making this the 6th monthly gain over the last 7 months.  

October’s home sales activity reported that new listings fell 1.4% month-over-month. As interest rates have continued to ease, helping stimulate the economy, the housing market is expected to become more active but remain weakened due to ongoing economic uncertainty. It’s predicted that pent-up demand in the housing market may emerge in the spring of 2026.

CPI Inflation Update

The most recent inflation data show a 2.2% year-over-year rise in October, down from the 2.4% increase in September. This was due to gasoline prices falling faster in October (-9.4%) than in September (-4.1%). Slower growth in grocery prices also contributed to the deceleration this month.

Mortgage Statistics for Quebec

Home prices in Quebec have doubled compared to what they were 10 years ago. Here are some mortgage statistics for the housing market in the province:

• Average home value (as of October 2025): $535,200 (QPAREB)
• Canadian homeownership rate (as of 2021): 66.5% (StatsCan)
• Number of home sales (as of October 2025): 8,577 (QPAREB)
• Number of new listings (as of October 2025): 13,367 (QPAREB)

Mortgage Options in Saint Jean Sur Richelieu

Saint Jean Sur Richelieu conventional mortgage: Conventional or uninsured mortgages require a downpayment of 20% or more. With uninsured mortgages, there is no limit on the purchase price, and you can amortize up to 30 years with prime lending. You will not be required to purchase mortgage default insurance as your downpayment is enough equity to protect the lender if you default. 

Saint Jean Sur Richelieu high-ratio mortgage: High-ratio or insured mortgages allow you to purchase a home with a downpayment of less than 20% and require mortgage default insurance to reduce the risk to the lender. With high-ratio mortgages, you will be limited to a purchase price of less than $1 million and an amortization of up to 25 years.

Saint Jean Sur Richelieu fixed-rate mortgage: Fixed-rate mortgages lock in your interest rate for the term. The principal and interest amounts are fixed, providing predictable and stable mortgage payments. Penalties are calculated based on the higher of the interest rate differential (IRD) or 3 months interest if you need to break the mortgage before the end of your term.

Saint Jean Sur Richelieu variable-rate mortgage: Variable-rate mortgages have interest rates that change based on the Bank of Canada policy rate, directly impacting your lenders’ prime rate. Adjustable-rate mortgages (ARM) are variable mortgages that immediately adjust your mortgage payment to reflect the changes made to your lenders’ prime rate. The principal portion remains fixed, while the interest can increase or decrease when the prime rate increases or decreases. Variable-rate mortgages (VRM) are variable mortgages that have fixed mortgage payments despite changes to your lenders’ prime rate. The principal and interest on your fixed payment adjust with more going to interest and less to principal if the prime rate increases or more going to principal and less to interest if the prime rate decreases. 

What Affects My Mortgage Rate in Saint Jean Sur Richelieu

The mortgage rate you are offered is influenced by your credit score, income, capital, downpayment, and loan-to-value (LTV) ratio. Mortgage rates are also priced based on the risks associated with the mortgage, the purpose of the loan, and the property used as collateral.  Some of the most important determining factors affecting your mortgage rate include:

• Downpayment –  Your downpayment will determine your LTV ratio and whether you will be required to purchase mortgage default insurance. Insured and insurable mortgages have better interest rates as there is less risk of loss to the lender. Insured and insurable rates apply to properties valued at less than $1 million and amortizations up to 25 years. 
• Amortization – The amortization period on uninsured mortgages (downpayments of 20% or more) can go up to 30 years on prime lending. Uninsured mortgages typically have higher interest rates than insured and insurable mortgages to account for the added risk to the lender. The amortization on insured and insurable mortgages cannot exceed 25 years. 
• Property Usage – Your primary residence, known as owner-occupied, will generally have lower interest rates. Investment properties you intend to rent out will typically have higher interest rates. A primary residence with a second separate legally registered suite is considered an owner-occupied rental and will have access to the same rates as a primary residence. 
• Mortgage Type – Open mortgages have higher rates than closed rates due to the added flexibility. Refinances have higher rates than renewals and new mortgages. 
• Credit Score – Your credit score will impact the type of lender that approves you for a mortgage. If you have good to excellent credit, you can typically use prime lending and benefit from the best rates. If you have poor credit, you may need to consider alternative lending solutions with higher rates to offset the lender’s risks. 

First-Time Home Buyer Programs in Quebec

Quebec has programs and incentives available to assist first-time buyers with some of the costs of purchasing a home. Some programs are available through the province or municipality, while others are available across Canada. 

Home Buyers’ Tax Credit – First-time buyers are eligible for up to $1,400 when purchasing a qualifying home in Quebec. To qualify, you must be a resident of Quebec and intend to live in the home as your primary residence.

First-Time Home Buyers’ Tax Credit (HBTC) – This federal government program allows first-time buyers to claim up to $10,000 for a maximum $1,500 tax credit to help offset closing costs. 

Quebec City Family Access Program (Programme Accès Famille) – This program offers financial assistance through an interest-free loan of up to 5.5% of the property value. If the home is Novo-climate approved, an additional direct rebate of 3.5% (of the purchase price) will apply. The qualifying criteria will vary based on your family situation; however, your maximum gross income must be $150,000 or less, and the maximum purchase price cannot exceed $370,000. 

Home Purchase Assistance Program – First-time buyers purchasing in Montreal are eligible for up to $15,000 under this program. To qualify, you must not have owned a home in Quebec for the last 5 years and occupy the home as your primary residence. 

Land Transfer Tax in Quebec

Quebec’s land transfer tax is called Property Transfer Duties or Welcome Tax. The duties are collected by each municipality rather than the province. Each municipality (except Montreal, which can set a higher amount) can set its own rates, up to a maximum of 3%, on any amount over $500,000. Tiers are adjusted annually based on Quebec’s all-items Consumer Price Index (CPI). 

How to Find the Best Mortgage Rate in Saint Jean Sur Richelieu

• Step 1: Understand your credit score:  Before you start looking for a mortgage lender or applying for a mortgage, check your credit score regularly. This will help you immediately report and remedy errors that could negatively affect your score. If necessary, improve your credit score to help with your mortgage approval.
• Step 2: Determine your borrowing capacity: To find the right mortgage solution, you’ll need to know how much you can afford based on your income and downpayment. 
• Step 3: Know your mortgage needs: Analyze different mortgage solutions’ features, risks, and costs. Careful research and comparisons of the available options can help you choose a mortgage that best meets your immediate and long-term financial needs.
• Step 4: Find a suitable mortgage strategy: Your mortgage strategy shouldn’t be based solely on the lowest rate. Get expert guidance to choose the best strategy for your homeownership goals, even if that means not getting the lowest rate. 
• Step 5: Compare rates and terms: Not all mortgages are equal. Choosing a lender like nesto for your mortgage can help you compare rates and terms for multiple lending solutions, ensuring you find the best fit. 
• Step 6: Get prequalified for a mortgage: Begin your journey towards homeownership by taking advantage of nesto’s prequalification process. By analyzing your downpayment and financial stability, nesto will provide you with a comprehensive prequalification outlining the maximum mortgage amount you qualify for. This information is crucial as it helps you set realistic expectations and narrow your search for a suitable home within your budget.

Quebec Mortgage Rates