Best Variable Rate
True North Mortgage

True North Mortgage

Term 5 Year
Type Variable Closed
Rate 2.75%
Best Fixed Rate
True North Mortgage

True North Mortgage

Term 5 Year
Type Fixed Closed
Rate 3.39%
BMO Bank of Montreal

BMO Bank of Montreal

Term 5 Year
Type Variable Closed
Rate 4.10%
BMO Bank of Montreal

BMO Bank of Montreal

Term 6 Months
Type Fixed Closed
Rate 4.20%
True North Mortgage

True North Mortgage

Term 1 Year
Type Fixed Closed
Rate 3.39%
BMO Bank of Montreal

BMO Bank of Montreal

Term 5 Year
Type Fixed Closed
Rate 3.69%
First National

First National

Term 5 Year
Type Fixed Closed
Rate 3.79%
Scotiabank

Scotiabank

Term 5 Year
Type Fixed Closed
Rate 5.44%
TD Canada Trust

TD Canada Trust

Term 5 Year
Type Fixed Closed
Rate 5.59%

New Brunswick mortgage rates

Ready to compare mortgage rates in New Brunswick? You’ve come to the right place — LowestRates.ca allows you to find and compare the best rates from all the top mortgage brokers and banks in the province. Our service is free to use and there’s no obligation on your part — just the lowest mortgage rates on any given day, all together for you to compare, instantly.

Check out the charts below to see how much you can save by comparing rates and to find out more about the housing market in New Brunswick.

Lower rates = huge savings

How much can New Brunswick borrowers save by comparing mortgage rates? Plenty. We crunched the numbers on the hundreds of thousands of 5-year fixed rate mortgages Canadian homebuyers have inquired about on our site, and our rates have consistently been more than 2 full percentage points lower than posted bank rates.

On a $400,000 mortgage, that difference in rates would result in more than $100,000 of savings over the life of your loan.

Mortgage Interest Savings in Canada:
5-year fixed from LR.ca vs. 5-year fixed posted bank rate
MonthAverage LR.ca 5-year fixed rateAverage bank 5-year fixed rate
Nov 2017 2.79% 4.99%
Dec 2017 2.71% 4.99%
Jan 2018 2.93% 5.14%
Feb 2018 3.01% 5.14%
Mar 2018 3.07% 5.14%
Apr 2018 3.08% 5.14%
May 2018 3.18% 5.34%
Jun 2018 3.16% 5.34%
Jul 2018 3.14% 5.34%
Aug 2018 3.19% 5.34%
Sep 2018 3.17% 5.34%
Oct 2018 3.29% 5.34%
Average LR.ca 5-year fixed rate Average bank 5-year fixed rate 2.5% 3.0% 3.5% 4.0% 4.5% 5.0% 5.5%
  • Nov 2017
  • Dec 2017
  • Jan 2018
  • Feb 2018
  • Mar 2018
  • Apr 2018
  • May 2018
  • Jun 2018
  • Jul 2018
  • Aug 2018
  • Sep 2018
  • Oct 2018
On average, LR.ca rates are more than 2 full percentage points lower than posted bank rates.

On a $400,000 mortgage that’s an average savings of:

$437
Per month
$5,239
Per year
$130,974
Per lifetime

Variable or fixed: which is lower?

You can save a ton of money by shopping around for a mortgage, but how do the best variable rates compare to the best fixed rates? To find out, we compared the LR.ca 5-year fixed rate mortgages and the LR.ca 5-year variable rate mortgages that Canadians have applied for on our site. Turns out, variable rates are almost half a percentage point lower.

Mortgage Interest Savings in Canada:
5-year variable vs. 5-year fixed from LR.ca
MonthAverage LR.ca 5-year fixed rateAverage LR.ca 5-year variable rate
Nov 2017 2.79% 2.04%
Dec 2017 2.71% 1.93%
Jan 2018 2.93% 2.11%
Feb 2018 3.01% 2.22%
Mar 2018 3.07% 2.21%
Apr 2018 3.08% 2.19%
May 2018 3.18% 2.22%
Jun 2018 3.16% 2.16%
Jul 2018 3.14% 2.32%
Aug 2018 3.19% 2.45%
Sep 2018 3.17% 2.42%
Oct 2018 3.29% 2.48%
Average LR.ca 5-year fixed rate Average LR.ca 5-year variable rate 1.5% 2.0% 2.5% 3.0% 3.5%
  • Nov 2017
  • Dec 2017
  • Jan 2018
  • Feb 2018
  • Mar 2018
  • Apr 2018
  • May 2018
  • Jun 2018
  • Jul 2018
  • Aug 2018
  • Sep 2018
  • Oct 2018
On average, our variable rates are almost half a percent lower than our fixed rates.

On a $400,000 mortgage that’s an average savings of:

$102
Per month
$1,222
Per year
$30,548
Per lifetime

Variable or fixed: which is more popular?

Of the hundreds of thousands of Canadian borrowers who have shopped for a mortgage at LowestRates.ca since the start of 2014, most have taken variable rate loans. Of course, variable rates have been significantly lower than fixed rates, and look set to remain that way for the foreseeable future.

5-Year Fixed Rates vs. 5-Year Variable Rates in Canada: Who Takes What?✝
57%
of Canadians apply for 5-year variable mortgages
43%
of Canadians apply for 5-year fixed mortgages

✝Based on Canadian borrowers who applied for a mortgage at LowestRates.ca since 2014.

New Brunswick housing

Housing activity in New Brunswick has been flat for the last few years, despite falling mortgage rates and an improving job market. In 2016, average resale prices in the province are just above $150,000, far less than the Canadian average.

Add it all up and you have a pronounced buyer’s market in New Brunswick, which is great news if you’re thinking about home ownership or want to upgrade your property.

Resale Home Prices in New Brunswick
New Brunswick
Canada
2013 Q1 2013 Q2 2013 Q3 2013 Q4 2014 Q1 2014 Q2 2014 Q3 2014 Q4 2015 Q1 2015 Q2 2015 Q3 (F) 2015 Q4 (F) 2016 Q1 (F) 2016 Q2 (F) $0k $200k $400k $600k $160,000 $441,800

Average home prices by province and territory

New Brunswick vs. Canada
Province and territoryAverage home price (2016)*Year-over-year change
New Brunswick$158,295+2.0%
Alberta$395,648+2.7%
British Columbia$625,871-6.4%
Manitoba$282,511+4.2%
Newfoundland and Labrador$265,395-2.4%
Nova Scotia$218,332+1.7%
Northwest Territories$423,222-0.1%
Ontario$571,696+21.2%
Prince Edward Island$165,406+0.0%
Quebec$291,232+2.6%
Saskatchewan$292,303+0.4%
Yukon$289,312-15.9%

*Numbers courtesy of The Canadian Real Estate Association (CREA), November 2016

About New Brunswick

New Brunswick is the largest of Canada's three Maritime Provinces. It's a must-see destination for nature lovers, offering a whirlwind of natural wonders, including the Bay of Fundy, which has the world's highest tides (up to four-storeys high!), and the Saint John River. Not surprisingly, the New Brunswick economy is centered around natural resource industries such as forestry, mining, fisheries, and mixed farming. It's also home to the McCain Foods empire — one-third of the world's French fries come from New Brunswick's Florenceville-Bristol.

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