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Best Mortgage Rates in Newfoundland

Compare the most current mortgage rates instantly

Looking for a mortgage in Newfoundland? We help you find and compare the lowest rates from the Big 6 Banks and top Newfoundland mortgage brokers. By shopping the best rates in Newfoundland, you could save thousands on your mortgage. Our comparison charts are free to use and list current rates that are updated twice daily.

Rates updated:
Broker Mortgage Rates Minimize Table Maximize Table
TERM FIXED
TERM VARIABLE
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Bank Mortgage Rates Minimize Table Maximize Table
TERM FIXED
1-yr 2.79% motusbank Compare all rates
2-yr 2.74% Tangerine Compare all rates
3-yr 2.79% Tangerine Compare all rates
4-yr 2.79% motusbank 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
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