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Best Mortgage Rates in Newfoundland

Compare the most current mortgage rates instantly

Looking for a mortgage in Newfoundland? We can help you find and compare the lowest rates from the Big 6 Banks and Newfoundland’s top mortgage brokers, at no cost to you. Using our rate tables, you can compare the most current mortgage rates instantly, all in one place. By shopping around for the best mortgage rates in Newfoundland, you could save yourself thousands of dollars.

Advertising Disclosure Rates updated:
Broker Mortgage Rates Minimize Table Maximize Table
TERM FIXED
5-yr
TERM VARIABLE
5-yr 2.80%
Prime - 1.15
Sullivan Mortgage Group
(130)
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Bank Mortgage Rates Minimize Table Maximize Table
TERM FIXED
1-yr 3.29% RBC Royal Bank Compare all rates
2-yr 2.84% HSBC Compare all rates
3-yr 3.09% Scotiabank Compare all rates
4-yr 3.09% Bank of Montreal Compare all rates
5-yr 2.49% HSBC Compare all rates
10-yr 2.99% HSBC Compare all rates
TERM VARIABLE
1-yr
2-yr
3-yr 3.95%
Prime - 0.00
CIBC Compare all rates
4-yr
5-yr 2.89%
Prime - 1.06
motusbank Compare all rates
10-yr
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Open mortgage rates Minimize Table Maximize Table
TERM FIXED
1-yr 4.50% TD Bank Compare all rates
3-yr
5-yr
TERM VARIABLE
1-yr 4.65%
Prime + 0.70
Coast Capital Compare all rates
3-yr 5.15%
Prime + 1.20
Bank of Montreal Compare all rates
5-yr 4.95%
Prime + 1.00
motusbank Compare all rates
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Cash back mortgage Minimize Table Maximize Table
5-yr 5.19%
5% Cash Back
Laurentian Bank Compare all rates
7-yr 6.64%
5% Cash Back
Simplii Financial ™ Compare all rates
10-yr 7.55%
5% Cash Back
Simplii Financial ™ Compare all rates
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HELOC Rates Minimize Table Maximize Table
HELOC 3.75%
Prime - 0.20
motusbank Compare all rates

Newfoundland and Labrador Housing Market Forecasts1

Economic growth in Newfoundland and Labrador will stem from increased pricing in the energy sector fuelling oil production, energy, and mining development. The province will also be increasing infrastructure spending. These strong industries will fuel GDP growth for 2011 and 2012. City centres such as St John’s will see moderate population growth, but rural areas will likely plateau. While Newfoundland and Labrador experienced the highest employment growth in Canada in 2010 at 3.7%, growth will slow closer to national averages throughout 2011 and 2012.

Metropolitan Area Year Housing Starts MLS Total Sales MLS Average Sale Price
Newfoundland and Labrador
2016(*) 1460 3950 $262,000
2017(*) 1300 3700 $255,000

References and Notes

  1. CMHC

Current Mortgage Rates by Province