Find the best mortgage rate in Halifax
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Best Halifax mortgage rates
The rate table shows 5-year fixed mortgage rates in Halifax. To compare other rate types and terms, click on the filters icon beside the down payment percentage.
As of:
Halifax mortgage rates: FAQ
What are the current mortgage rates in Halifax?
As of October 25, 2024, the average of the Big 5 Banks’ 5-year fixed mortgage rates in Halifax was 4.50%, while the average of the Big 5 Banks’ 5-year variable mortgage rates was 5.36%.
While these are the current mortgage rates at the Big 5 Banks, there are lots of other lenders operating in Halifax as well that you’ll see on our rate table above. It’s updated automatically throughout the day, so be sure to consult it to ensure you’re comparing the best and most current Halifax mortgage rates available.
Who has the best mortgage rate in Halifax?
As of October 25, 2024, the Big 5 Bank with the lowest 5-year fixed rate in Halifax is CIBC offering a rate of 4.34%, while the best 5-year variable rate in Halifax is offered by RBC, with a rate of 5.05%.
To make sure you’re comparing the best mortgage rates in Halifax, use our rate table above, which displays the most current rates from the Big 5 Banks as well as other mortgage providers in Halifax. It’s updated throughout the day, so you’ll always see the most up-to-date rates on offer.
Are Halifax lenders offering fixed-rate mortgages?
Halifax is home to a very competitive mortgage market, with all of the Big 5 Banks and multiple smaller banks and mortgage brokerages operating there. As such, you have access to a very wide range of mortgage products, including multiple fixed-rate mortgage products.
Consult our rate table above to see the very best fixed mortgage rates in Halifax. Our rate tables are updated throughout the day to reflect any changes in the market, so you’ll always be comparing the most current Halifax fixed mortgage rates.
What is the lowest Halifax mortgage rate?
As of October 25, 2024, the lowest 5-year fixed mortgage rate in Halifax that you can get is 4.09%, while the lowest 5-year variable Halifax mortgage rate is 4.70%.
Our rate tables are updated automatically throughout the day, so be sure to consult our rate table above to make sure you’re comparing the most current available Halifax mortgage rates.
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Compare current mortgage rates across the Big 5 Banks and top Canadian lenders. Take 2 minutes to answer a few questions and discover the lowest rates available to you.
Getting the best mortgage rates in Halifax
Jamie David, Sr. Director of Marketing and Mortgages
As the capital of Nova Scotia and the largest city in The Maritimes, Halifax is the most important city on Canada's East Coast. As such, it has a vibrant real estate and mortgage market. Halifax also offers more affordable property options for first-time home buyers than do most of Canada's larger cities.
Below we've laid out some of the things you should consider before looking for a mortgage in Halifax. When you're ready, you can compare personalized quotes for mortgage rates in Halifax with the tools at the top of this page.
Best mortgage rates in Halifax +
Rates updated:
Rate | Term | Type | Provider |
---|---|---|---|
4.09% | 3 years | Fixed | Big 6 Bank |
4.14% | 5 years | Fixed | Canadian Lender |
4.44% | 4 years | Fixed | Big 6 Bank |
5.14% | 6 years | Fixed | Bank of Montreal |
5.29% | 2 years | Fixed | Big 6 Bank |
Comparing the best mortgage rates in Halifax
The comparison tables at the top of this page list the best mortgage rates available in Halifax, up to the minute. Comparing rates between multiple providers and mortgage brokers is the best thing you can do to get the lowest rate possible.
Of course, your personal rate may be different from the rates listed above. The rate you're eligible for can change based on things like your down payment, the home's purchase price, your credit score, which lender you choose, as well as what the property is being used for.
Luckily, you can get personalized quotes for mortgage rates without filling in a full mortgage application. Use the tools at the top of this page and we’ll provide you with personalized mortgage quotes from Halifax lenders in under two minutes.
Halifax closing costs
When applying for a new mortgage in Halifax, you'll need to consider the closing costs associated with all property purchases. Most of these costs will need to be paid upfront, so you’ll need to save the cash to pay for them (in addition to your down payment).
Nova Scotia Deed Transfer Tax: While there is no provincial land transfer tax in Nova Scotia, as there are in most other provinces, there is a municipal deed transfer tax. The rate varies from zero to 1.5% of the purchase price. The table below lists the deed transfer rates across Nova Scotia as of April 2020 (Source: Government of Nova Scotia).
CMHC Insurance: If your mortgage is an insured mortgage, you'll need to pay for mortgage default insurance. This will normally be included as part of your mortgage, so you won't need to provide it in cash.
These are just some of the closing costs you’ll have to pay in Halifax. Learn more on our closing costs education centre page.
Halifax first-time home buyer rebates
Most of the first-time home buyer programs in Canada are administered at the provincial level. Unfortunately, there aren't any rebates in Nova Scotia for first-time home buyers. However, new home buyers in Halifax are still eligible for first-time home buyer programs at the federal level, including:
- RRSP Home Buyer’s Plan: This allows you to borrow up to $60,000 from your RRSP for your down payment. The money must be paid back within 15 years.
- First-Time Home Buyer’s Tax Credit: This is a tax credit of up to $750, available when you file your taxes for the year in which you bought your first home.
- GST/HST New Housing Rebate: If your home is newly built, it may be subject to GST or HST. This rebate gives you some or all of that tax back.
Each of these schemes has eligibility criteria and additional rules that apply, which you'll need to investigate further before you apply for them.
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
Want to learn more? Check out our comprehensive education centre
About Ratehub.ca
Whether you need a mortgage, credit card, savings account, or insurance coverage, we help you find and compare the best financial products for your specific needs.
When it comes to mortgages, Ratehub.ca is more than just a place to research and compare the best rates. Our goal is to give Canadians the best mortgage experience from online search to close. This means offering Canadians the mortgage tools, information and articles to educate themselves, allowing them to get personalized rate quotes from multiple lenders to compare rates instantly, and providing them with the best online application and offline customer service to close their mortgage all in one place.
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We own and operate a mortgage brokerage, Ratehub.ca (formerly known as CanWise Financial), and are compensated for mortgages funded through our brokerage. Ratehub Inc. o/a Ratehub.ca & CanWise is a licensed mortgage brokerage and CMHC-approved lender. When comparing mortgage rates on Ratehub.ca, you’ll see rates from a number of lenders, including CanWise. All products are sorted according to the rates available to you and the selection criteria you’ve shared with us. Both Ratehub.ca and CanWise are owned and operated by Ratehub Inc.
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