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Best Winnipeg mortgage rates
The rate table shows 5-year fixed mortgage rates in Winnipeg. To compare other rate types and terms, click on the filters icon beside the down payment percentage.
As of:
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Getting the best mortgage rates in Winnipeg
Jamie David, Sr. Director of Marketing and Mortgages
Winnipeg is the largest city in Manitoba and has a healthy real estate market, with plenty of providers competing for your mortgage business. If you're in the process of buying a home or renewing your mortgage in Winnipeg, there are lots of ways to get a great mortgage for your needs, with a competitive rate too! Here are some things you'll need to know to get the right mortgage for you in Winnipeg.
Best mortgage rates in Winnipeg +
Winnipeg at a glance
- Population: 841,000
- Average Home Price: $424,765 in May 2025
- Average Household Income: $68,402
- Percentage of Homeowners: 65%
Fun Facts About Winnipeg
- More than half the population of the province of Manitoba lives in Winnipeg.
- The Royal Winnipeg Ballet is Canada’s oldest ballet company and the longest continually running one in North America.
June 2025 Winnipeg housing market update
On June 16, 2025, the Canadian Real Estate Association (CREA) released the latest Winnipeg housing data for the month of May. Residential property sales totalled 1,673 units, a 3.5% increase compared to May 2024, highlighting recovering buyer demand.
New listings in the month climbed up by 3.6% year over year, with 2,294 homes added to the market. Despite this slight increase in supply, the average home price in Winnipeg inched up by 8.6% from the previous year, reaching $425,082.Â
Market conditions remain in the seller’s territory, even though the sales-to-new-listings ratio (SNLR) dropped by 0.1 percentage points year-over-year to 72.9%. According to CREA, an SNLR between 45% and 65% indicates a balanced market, whereas anything above 65% is considered to be a seller’s market and below 45% is a buyer’s market. Overall, Winnipeg’s market conditions continue to lean in favour of sellers with rising prices, tight inventory, and growing buyer interest.
Comparing the best mortgage rates in Winnipeg
The comparison tables above have the most up-to-date mortgage rates in Winnipeg, automatically updated every few minutes. One of the best things you can do to get a great mortgage rate is to compare rates between different mortgage providers and brokers.
Keep in mind that the rates listed above may be different from the rate that you're approved for. Things like your down payment, the purchase price, your credit score and the features you want for your mortgage can all affect what mortgage rate you're offered.
One of the best things you can do, no matter what stage of the journey you're in, is to get mortgage rate quotes from multiple lenders. You can get started with the tools at the top of this page. A mortgage broker can also help you find the right mortgage for your needs, as they are licensed specialists with access to multiple lenders and mortgage rates. Better still, they can provide you with expert, personalized advice at no cost to you.
Winnipeg closing costs
When applying for a mortgage in Winnipeg, you'll need to factor in the closing costs that will accompany your property purchase. Most of these will need to be paid in cash, up front, in addition to your down payment, though some of them can be added to your mortgage.
- Manitoba Land Transfer Tax: Manitoba has a province-wide land transfer tax that will need to be paid when you purchase the property. Manitoba land transfer tax rates vary based on the purchase price, ranging from 0% to 2%. You can learn more on our dedicated Manitoba land transfer tax page.
- Mortgage default insurance: If your down payment is less than 20%, you'll have to pay for mortgage default insurance coverage (often known as CMHC insurance) on top of your mortgage. This is typically rolled into your mortgage, but it's important to consider it.
- Sales tax (PST) on CMHC premiums: Manitoba used to charge PST on CMHC premiums. It scrapped the tax in 2020, as part of its response to the COVID-19 pandemic.
These are just some of the closing costs you’ll have to pay in Winnipeg. Learn more on our closing costs education centre page.
Winnipeg first-time home buyer rebates
Some Canadian provinces and cities offer a refund of the land transfer tax for first-time home buyers, in an attempt to make it easier for first-time home buyers to get into the real estate market.
Unfortunately, Manitoba does not offer such a rebate. However, Winnipeg's first-time home buyers are still able to access many of the other first-time home buyer programs in Canada.
Sources:
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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How are CanWise Financial and Ratehub.ca connected?
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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