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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.

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Broker Mortgage Rates Minimize Table Maximize Table
TERM FIXED
TERM VARIABLE
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Big 5 Bank Mortgage Rates Minimize Table Maximize Table
TERM FIXED
1-yr 2.89% RBC Royal Bank Compare all rates
2-yr 2.54% RBC Royal Bank Compare all rates
3-yr 2.74% Bank of Montreal Compare all rates
4-yr 2.74% RBC Royal Bank Compare all rates
5-yr 2.69% Scotiabank Compare all rates
10-yr 3.64% Scotiabank Compare all rates
TERM VARIABLE
1-yr
2-yr
3-yr 2.45%
Prime - 0.00
CIBC Compare all rates
4-yr
5-yr 2.25%
Prime - 0.20
TD Bank Compare all rates
10-yr
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Open mortgage rates Minimize Table Maximize Table
TERM FIXED
1-yr 4.44% Coast Capital Compare all rates
3-yr
5-yr
TERM VARIABLE
1-yr 3.15%
Prime + 0.70
Coast Capital Compare all rates
3-yr 3.95%
Prime + 1.50
HSBC Compare all rates
5-yr 4.25%
Prime + 1.80
CIBC Compare all rates
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Cash back mortgage Minimize Table Maximize Table
5-yr 4.99%
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 2.35%
Prime - 0.10
Tangerine Compare all rates

Best mortgage rates in Newfoundland (view all) +

Best mortgage rates Newfoundland

Last updated: May 25, 2020

Mortgage Rate Provider Term Type
% 1-year Fixed
% 2-year Fixed
% 3-year Fixed
% 4-year Fixed
% 5-year Fixed
% 10-year Fixed
% 3-year Variable
% 5-year Variable

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