The best mortgage rates in Northwest Territories? Get ‘em right here!

Find the best rate in just seconds.

Best Variable Rate
True North Mortgage

True North Mortgage

Term 5 Year
Type Variable Closed
Rate 2.70%
Best Fixed Rate
True North Mortgage

True North Mortgage

Term 5 Year
Type Fixed Closed
Rate 2.49%
True North Mortgage

True North Mortgage

Term 2 Year
Type Fixed Closed
Rate 2.79%
True North Mortgage

True North Mortgage

Term 3 Year
Type Fixed Closed
Rate 2.79%
BMO Bank of Montreal

BMO Bank of Montreal

Term 5 Year
Type Fixed Closed
Rate 2.87%
True North Mortgage

True North Mortgage

Term 4 Year
Type Fixed Closed
Rate 2.89%
Scotiabank

Scotiabank

Term 5 Year
Type Fixed Closed
Rate 5.19%
BMO Bank of Montreal

BMO Bank of Montreal

Term 3 Year
Type Fixed Closed
Rate 2.92%
True North Mortgage

True North Mortgage

Term 1 Year
Type Fixed Closed
Rate 2.99%

Compare mortgage rates in Northwest Territories.

Are you hunting for the lowest mortgage rates in the Northwest Territories? You’ve come to the right place. LowestRates.ca helps you find and compare the best rates from all the top mortgage brokers and banks in the region. Our free, no-obligation service makes shopping around for a mortgage rate fast and easy.

See how much you can save by comparing rates and find out more about the housing market in the Northwest Territories by taking a look at the charts below.

Lower rates = bigger savings.

How do we know you can save big just by comparing rates? We studied the numbers. Fixed rates on our site are averaging less than 2.5%, but posted bank rates average above 4.5%.

On a $400,000 mortgage, that difference in rates would result in more than $100,000 of savings over the life of your loan. Whether you’re house hunting in Yellowknife or in Hay River, savings like that can have a massive impact on your finances.

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 Northwest Territories vs 5-year bank rate

MonthAverage LR.ca 5-year fixed rateAverage bank 5-year fixed rate
02/183.01%5.14%
03/183.07%5.14%
04/183.08%5.14%
05/183.18%5.34%
06/183.16%5.34%
07/183.14%5.34%
08/183.19%5.34%
09/183.17%5.34%
10/183.29%5.34%
11/183.37%5.34%
12/183.42%5.34%
01/193.33%5.34%

Variable or fixed: which is lower?

Turns out, variable rates are lower. We compared LR.ca 5-year fixed rate mortgages to LR.ca 5-year variable rate mortgages and discovered that variable rates are consistently about 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 Northwest Territories vs 5-year variable rate from LowestRates.ca

MonthAverage LR.ca 5-year fixed rateAverage LR.ca 5-year variable rate
02/183.01%2.22%
03/183.07%2.21%
04/183.08%2.19%
05/183.18%2.22%
06/183.16%2.16%
07/183.14%2.32%
08/183.19%2.45%
09/183.17%2.42%
10/183.29%2.48%
11/183.37%2.62%
12/183.42%2.61%
01/193.33%2.63%

Focus On

Northwest Territories housing.

The real estate market in the Northwest Territories is driven almost entirely by the city of Yellowknife. According to the Canada Mortgage and Housing Corporation, developers continue to see high demand for housing starts in the city as more job creation encourages prospective buyers to sign on the dotted line. While construction of single-detached homes is flat to down, demand for lower-priced, multi-family housing starts is growing sharply. Average resale home prices in Yellowknife are healthy too, currently hovering around $380,000.

Resale Home Prices in Yellowknife

YearYellowknifeCanada
2012$387,900$363,483
2013$390,711$382,937
2014$415,344$408,411
2015$417,049$442,999
2016 (F)$384,900$474,200

Two-Storey Home and Condo Prices by Province

ProvinceTwo StoreyCondo
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 Northwest Territories 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 Northwest Territories

Northwest Territories is one of three federal territories of Canada and is located between Nunavut and the Yukon. Spanning 1.17 million square kilometers, it is one of the continent's last great untamed wilderness areas and is largely uninhabited. The territory is made up mainly of mountains, forests, and tundra with thousands of rivers feeding thousands of lakes. Canada's largest lake entirely within the country, Great Bear Lake, and deepest lake, Great Slave Lake, lie ensconced in the remote landscape of the NWT. Yellowknife is the territory's capital and is home to approximately 19,000 people.

Mortgage news

Read More Like This