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Find the best mortgage rate in New Brunswick

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Current New Brunswick mortgage rates

The rate table shows 5-year fixed mortgage rates in New Brunswick. To compare other rate types and terms, click on the filters icon beside the down payment percentage.

As of:


Canadian Lender



A Ratehub Company


Big 6 Bank




Bank of Montreal




New Brunswick mortgage rates: FAQ

How much can I save by comparing mortgage rates in New Brunswick?

Why compare New Brunswick mortgage rates on

What’s the difference between fixed and variable mortgage rates?

Which is better: fixed or variable mortgage rates?

What are pre-payment options?

Should I get an open or closed mortgage in New Brunswick?

What is a mortgage rate hold?

Should I use a mortgage broker in New Brunswick?

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How to get the best mortgage rate in New Brunswick

Getting a mortgage is a big financial commitment, and finding a great mortgage rate is one of the best things you can do to make your mortgage more manageable. Luckily, how to get a lower mortgage rate isn’t a secret - all you need to do is plan ahead.

Our mission at is to make it easy to compare rates from Canada's big banks, credit unions and smaller lenders so that you can make the best financial choice. Read on to learn how to get a lower mortgage rate in New Brunswick.

Best mortgage rates in New Brunswick +

New Brunswick
at a glance

  • Population: 800,000 
  • Average Home Price: $295,900 in March 2024, a 9.5% year-over-year increase
  • Average Household Income: $59,347
  • Percentage of Homeowners: 74%

Fun Facts About New Brunswick 

  • The New Brunswick Museum in St. John is Canada’s oldest museum still in operation, and is home to the world’s oldest intact shark fossil, which is about 400 million years old.
  • Since 1969, New Brunswick has been the only province in Canada to have both English and French as its official provincial language. Over a third of the population is bilingual.

What is the best mortgage rate in New Brunswick?

The best mortgage for you is the one that best suits your needs, and offers a great rate. It's important to remember that the best mortgage is not always the mortgage with the lowest rate. While a low rate is important and can save you thousands of dollars, you also need to make sure that the term, conditions, and features of your mortgage suit your needs.


 What factors affect the mortgage rate I get?

While comparing mortgage products is an important part of getting the best possible mortgage rate, you’ll still need to personally qualify for your final offer. There are several factors that will affect the rate you’re able to qualify for. Here are some of the major ones:

  • Down payment: In Canada, property purchases require a minimum down payment of between 5% and 20%, depending on the purchase price. However, if your down payment is less than 20%, you’ll have to pay for mortgage default insurance. This will cost you more, but it will make your mortgage less risky, from your lender’s perspective. This generally results in a lower mortgage rate. Note that even with a lower mortgage rate, it's still worth avoiding the cost of mortgage default insurance, so you should always aim to have a down payment of at least 20%.
  • Amortization period: Mortgages with amortization periods of more than 25 years generally have higher interest rates. This is because this type of mortgage can't be insured with mortgage default insurance. Despite this, mortgages with longer amortization periods can be more financially manageable, because they have lower monthly payments.
  • The purpose of the property: You’ll generally be offered a higher rate on a mortgage for a property that you don’t plan to personally live in.
  • Mortgage type: A refinanced mortgage, or a mortgage with features like a HELOC, will typically come with a higher rate than a mortgage for a renewal or new purchase.
  • Credit score: A low credit score may mean you cannot get approved by an ‘A lender’, like a big bank or credit union. If you’re forced to take a mortgage from a ‘B lender’, you’ll probably be charged a higher rate.

New Brunswick mortgage rates: Historical trends

New Brunswick mortgage rates rise and fall, as do rates across Canada. Here’s a quick snapshot of the lowest mortgage rates in Canada over the past few years, to give you an idea of where we are today.

Source: Ratehub Historical Rate Chart


Land transfer tax in New Brunswick

New Brunswick, along with most Canadian provinces, charges a land transfer tax on all property transfers (the only provinces that don’t are Alberta and Saskatchewan). Unlike the marginal tax rates applied by other provinces, New Brunswick charges a simple, flat rate.

All property transfers in New Brunswick attract a 1% land transfer tax on either the property price or the assessed value, whichever is greater.

New Brunswick first-time home buyer programs

Unlike some other provinces, New Brunswick does not offer a rebate on land transfer tax for first-time home buyers. However, first-time home buyers in New Brunswick are still eligible for all relevant federal government programs. Learn more by reading our guide to first-time home buyer programs in Canada.


  1. Government of New Brunswick
  2. CREA
  3. Statistics Canada
  4. Fun World Facts

Jamie David, Director of Marketing and Head of Mortgages

Jamie has 15+ years of business and marketing experience. She contributes her mortgage expertise to The Globe and Mail and authors Ratehub’s mortgage and homebuying guides. read full bio

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