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Find the best mortgage rate in Winnipeg

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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:

RateProviderPayment

Big 6 Bank

$2,251

Canadian Lender

$2,251

RBC Royal Bank

$2,263

CMLS Financial

$2,296

CIBC

$2,308

Canwise

A Ratehub Company

$2,308

Winnipeg mortgage rates: FAQ

What are the current mortgage rates in Winnipeg?


What is the average 5-year mortgage rate in Winnipeg?


Will mortgage rates go down in 2024?


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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.

4.79%

Best fixed rate in Canada

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Getting the best mortgage rates in Winnipeg

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: $402,848 in April of 2024
  • 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.

May 2024 Winnipeg housing market update

On May 15, 2024, the Canadian Real Estate Association (CREA) released the latest Winnipeg housing market figures for the month of April 2024. The most recent figures from CREA indicate that 2024 continues to be a year of price growth for Winnipeg, fuelled by robust demand and somewhat limited supply. The 1,314 residential properties sold in Winnipeg over the course of April represent a noticeable uptick from the previous month’s total of 1,120, and represented a whopping 27.9% improvement from the same period last year. 

In some good news for aspiring home buyers in Winnipeg, some 2,121 homes were newly listed in April, up by an impressive 24% on an annual basis. However, this influx of new supply wasn’t enough to prevent price growth; the average home price in Winnipeg stood at $402,848 in April, up by 7.6% from the same time last year. Buying conditions have tightened slightly on an annual basis as well, with the sales-to-new-listings ratio (SNLR) coming in at 62%, up from 60% in April 2023. According to the Canadian Real Estate Association (CREA), a ratio within 45 - 65% is a balanced market, with above and below that threshold indicating sellers’ and buyers’ markets, respectively.

The average home prices for the three main property types in Winnipeg in March 2024 are as follows:

Read more: National home sales fall in April as buyers stick to the sidelines

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: 

  1. Winnipeg.ca
  2. Macrotrends
  3. CREA
  4. Statistics Canada
  5. Fun World Facts

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.

Ratehub.ca has been named Canada's Mortgage Brokerage of the Year for four years straight (2018-2021). With over 12 years of mortgage experience, and over $11 billion in mortgages funded, we deliver you the best mortgage experience in Canada. 

How does Ratehub.ca make money?

Financial institutions pay us for connecting them with customers. This could be through advertisements, or when someone applies or is approved for a product. However, not all products we list are tied to compensation for us. Our industry-leading education centres and calculators are available 24/7, free of charge, and with no obligation to purchase. To learn more, visit our About us page.

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.

We’re proud of our Ratehub.ca mortgage brokerage, which offers our users great rates, trusted advice and an award-winning team of mortgage experts. Read any of our 6,700 five-star Google and Facebook reviews and you’ll see what we mean.

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