Compare the best current mortgage rates in Nova Scotia for free.

On average, Canadians save thousands of dollars per year by comparing rates with us.

Compare rates from 30+ banks and brokers in 3 minutes.

Variable Rates

As low as


Fixed Rates

As low as


Cha-ching! Our rates are always lower than the posted bank rates.

Current lowest posted bank rate


Lower mortgage rates = bigger savings. allows you to submit a mortgage application for several different types of mortgage products. If you’re on the hunt for a typical mortgage contract, however, there are two main types you’ll be choosing between. These include conventional mortgages and high ratio mortgages. Conventional mortgages mean that the homebuyers have put down at least 20% of the purchase price of the home as a down payment. A high ratio mortgage means that the homebuyers have put down less than 20% of the purchase price of the home as a down payment. With a high ratio mortgage, homebuyers are required to purchase mortgage insurance, which often means that rates for these mortgages will be lower. However, it’s important to speak with your advisor about which type of mortgage is right for you.

Conventional 5-year fixed mortgage rates vs. high ratio 5-year fixed mortgage rates in Nova Scotia

DateAverage Conventional RateAverage High Ratio Rate
04/20 2.85%2.55%
05/20 2.64%2.32%
06/20 2.50%2.22%
07/20 2.45%2.11%
08/20 2.25%1.92%
09/20 2.16%1.84%
10/20 2.05%1.86%
11/20 1.82%1.59%
12/20 1.82%1.63%
01/21 1.80%1.54%
02/21 1.64%1.43%

Last Updated: March 1, 2021

Variable or fixed mortgage rates: which one is lower?

Once you’ve determined whether you’re looking for a conventional or a high ratio mortgage, the next thing you’ll need to decide is whether you prefer a fixed or variable interest rate. But, what’s the difference? To give you an idea, we’ve pulled data from’s user database to see how variable rates stack up against fixed rates. Here’s what we found:

5-year fixed vs. 5-year variable mortgage rates in Nova Scotia

04/20 2.27%2.78%
05/20 2.09%2.50%
06/20 2.10%2.42%
07/20 2.03%2.36%
08/20 1.99%2.09%
09/20 1.93%1.98%
10/20 1.84%1.94%
11/20 1.65%1.73%
12/20 1.62%1.75%
01/21 1.58%1.71%
02/21 1.45%1.56%

Last Updated: March 1, 2021

Your Nova Scotia mortgage questions, answered.

Looking for mortgage info? Check out our Home Buyers Guide.

Variable or fixed: which is more popular?

On, you can secure either a fixed or variable rate mortgage loan. But, what do users prefer? Generally, variable rate loans have come with lower rates than fixed rate loans, which makes them more popular among users. However, due to the economic circumstances between 2019 and 2020, the difference between the two has gotten smaller and smaller. While variable rates are still lower, they’re lower by a much smaller margin.This means that regardless of whether you go with a fixed or variable rate on, you’re still getting a great deal.

About Nova Scotia

Even though it’s the second smallest province in Canada by area, Nova Scotia is home to more than 900,000 people. This relatively large population makes Nova Scotia the second most densely populated province in the country, with 17 residents per square kilometer, according to Statistics Canada. One of Canada's three Maritime Provinces, Nova Scotia’s vehicle license plate description is 'Canada's Ocean Playground,' and for good reason — the province has more than 7,400 kilometres of coastline! Residents and visitors can enjoy the varied nature of the province, from bucolic inland farms to the stunning scenery of Cape Breton and bustling urban life in Halifax. The province boasts a thriving economy driven mainly by fishing, forestry and tourism.

Ready to save?

Get your free quotes now

Mortgage news

Read More Like This