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Find the best mortgage rate in Nunavut

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Current Nunavut mortgage rates

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

As of:


Canadian Lender


Big 6 Bank



A Ratehub Company




Bank of Montreal


TD Bank


Nunavut mortgage rates: FAQ

How much can I save by comparing mortgage rates in Nunavut?

Why compare Nunavut mortgage rates on Ratehub?

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

Which is better: fixed or variable mortgage rates?

What are prepayment options?

Should I get an open or closed mortgage in Nunavut?

What is a mortgage rate hold?

Should I use a mortgage broker in Nunavut?

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The best mortgage rates in Nunavut

Getting a mortgage is a big financial commitment, but there are some sure-fire ways to get a better mortgage rate. The factors that contribute to a lower mortgage rate aren't a secret, so 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. That makes it simple for you to choose better, at no cost to you.

Best mortgage rates in Nunavut +

What's the best mortgage rate in Nunavut?

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.

Nunavut mortgage rates: Historical trends

Nunavut mortgage rates rise and fall, as do rates across Canada. Because Nunavut is so remote and sparsely populated, the mortgage rates on offer may be different than in other provinces - be sure to check the comparison table above. With that in mind, here’s a quick snapshot of the lowest national mortgage rates over the past few years, to give you an idea of where we are today.

Source: Ratehub Historical Rate Chart

Land transfer tax in Nunavut

There isn’t a land transfer tax in Nunavut, but there is a title transfer fee, which operates in a similar way. For each $1,000 of property value, a $1.50 transfer fee is levied, up to the first $1 million. Above $1 million, the transfer fee is $1,500 plus $1.00 per additional thousand dollars.

This transfer fee schedule results in an effective tax rate of 0.15% for properties under $1 million when the property price is rounded up to the nearest thousand dollars.

Nunavut first-time home buyer programs

With no land transfer tax, there aren’t any first-time home buyer land transfer tax rebates in Nunavut. However, first-time homebuyers in Nunavut are still eligible for all relevant federal government programs. Learn more by reading our guide to first-time home buyer programs in Canada.

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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