Find the best mortgage rate 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. 

Winnipeg at a glance

• Population: 841,000 
• 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.
  

September 2025 Winnipeg housing market update

On September 15, 2025, the Canadian Real Estate Association (CREA) released Winnipeg’s housing data for August, revealing slowed momentum in buyer demand. A total of 1,287 residential properties were sold, marking a 5.4% decrease from August 2024.

New listings saw a modest decrease of 2.7% year over year, with 1,753 homes brought to market. With supply tightening, the average home price climbed 7.9% annually to $415,095, underscoring persistent competition among buyers despite softer demand.

Market conditions remain firmly in the seller’s territory. The sales-to-new-listings ratio (SNLR) declined by 2.1 percentage points to 73.4% but stayed well above the 65% threshold that marks a seller’s market. According to CREA, a balanced market falls between 45% and 65%, with anything above favouring sellers and anything below favouring buyers. With rising prices and limited inventory, Winnipeg’s housing market continues to tilt in sellers’ favour.

Read more: Canadian home sales hit highest August since 2021

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