HomebuyingREPORT: Canadian mortgage rates and housing market trends 2020
Experts say we haven’t yet seen the full effects of COVID-19 on the housing market.
Compare the best current mortgage rates in New Brunswick for free.
On average, Canadians save thousands of dollars per year by comparing rates with us.
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Compare mortgage rates in New Brunswick.
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 = bigger 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.
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:
$439 Per Month
$5,264 Per Year
$131,596 In a Lifetime
5-year fixed mortgage rate from LowestRates.ca in New Brunswick vs 5-year bank rate
| Month | Average LR.ca 5-year fixed rate | Average bank 5-year fixed rate |
|---|---|---|
| 02/18 | 3.01% | 5.14% |
| 03/18 | 3.07% | 5.14% |
| 04/18 | 3.08% | 5.14% |
| 05/18 | 3.18% | 5.34% |
| 06/18 | 3.16% | 5.34% |
| 07/18 | 3.14% | 5.34% |
| 08/18 | 3.19% | 5.34% |
| 09/18 | 3.17% | 5.34% |
| 10/18 | 3.29% | 5.34% |
| 11/18 | 3.37% | 5.34% |
| 12/18 | 3.42% | 5.34% |
| 01/19 | 3.33% | 5.34% |
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.
On average, variable rates are almost half a percentage point lower than fixed rates.On a $400,000 mortgage that’s an average savings of:
$142 Per Month
$1,705 Per Year
$42,618 In a Lifetime
5-year fixed mortgage rate in New Brunswick vs 5-year variable rate from LowestRates.ca
| Month | Our average 5-year fixed rate | Our average 5-year variable rate |
|---|---|---|
| 02/18 | 3.01% | 2.22% |
| 03/18 | 3.07% | 2.21% |
| 04/18 | 3.08% | 2.19% |
| 05/18 | 3.18% | 2.22% |
| 06/18 | 3.16% | 2.16% |
| 07/18 | 3.14% | 2.32% |
| 08/18 | 3.19% | 2.45% |
| 09/18 | 3.17% | 2.42% |
| 10/18 | 3.29% | 2.48% |
| 11/18 | 3.37% | 2.62% |
| 12/18 | 3.42% | 2.61% |
| 01/19 | 3.33% | 2.63% |
Focus On
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
| Quarter | New Brunswick | Canada |
|---|---|---|
| Q1/13 | $159,737 | $367,382 |
| Q2/13 | $159,735 | $372,775 |
| Q3/13 | $162,714 | $388,651 |
| Q4/13 | $161,500 | $381,900 |
| Q1/14 | $161,368 | $399,945 |
| Q2/14 | $160,053 | $402,605 |
| Q3/14 | $161,481 | $409,388 |
| Q4/14 | $161,157 | $416,410 |
| Q1/15 | $157,103 | $425,062 |
| Q2/15 | $156,508 | $438,866 |
| Q3/15 | $160,000 | $445,000 |
| Q4/15 | $158,500 | $438,200 |
| Q1/16 | $157,000 | $440,800 |
| Q2/16 | $160,000 | $441,800 |
Two-Storey Home and Condo Prices by Province
| Province | Two Storey | Condo |
|---|---|---|
| British Columbia | $749,500 | $319,400 |
| Alberta | $405,000 | $255,100 |
| Saskatchewan | $384,500 | $246,100 |
| Manitoba | $322,600 | $207,500 |
| Ontario | $528,900 | $280,800 |
| Québec | $323,700 | $201,400 |
| Canadian Average | $466,100 | $254,800 |
Your New Brunswick mortgage questions, answered.
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?✝
- of Canadians apply for 5-year variable mortgages
- 57%
- of Canadians apply for 5-year fixed mortgages
- 43%
✝Based on Canadian borrowers who applied for a mortgage at LowestRates.ca since 2014.
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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