The best mortgage rates in Nova Scotia? 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 2.75%
Best Fixed Rate
True North Mortgage

True North Mortgage

Term 5 Year
Type Fixed Closed
Rate 2.59%
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%
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 2.89%
True North Mortgage

True North Mortgage

Term 4 Year
Type Fixed Closed
Rate 2.89%
First National

First National

Term 3 Year
Type Fixed Closed
Rate 2.99%

Compare mortgage rates in Nova Scotia.

Shopping for a mortgage in Nova Scotia? You’re at the right spot. LowestRates.ca helps you find and compare the best rates from the leading mortgage brokers and banks in the province. Our service is free to use and there’s no obligation on your part. Just select the type of mortgage you’re interested in and our comparison engine will pull together the lowest rates — just like that.

Lower rates = bigger savings.

Here’s why you should shop around before you settle on a mortgage rate: over the past two years, the rates on our site have been far, far lower than posted bank rates. In fact, our 5-year fixed rates average less than 2.5%, while the bank’s rates average over 4.5%.

On a $400,000 mortgage, the average difference in rates would result in more than $100,000 of savings over the life of your loan. Whether you’re house hunting in Halifax or in Kentville, 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 Nova Scotia 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?

You can save big money by shopping around for a mortgage, but how do the best variable rates compare to the best fixed rates? We compared the LR.ca 5-year fixed rate mortgages and LR.ca 5-year variable rate mortgages that Canadians have been applying for on our site to find out: variable rates are almost half a percentage point lower, and they’ll probably stay lower in 2017.

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 Nova Scotia vs 5-year variable rate from LowestRates.ca

MonthOur average 5-year fixed rateOur average 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

Nova Scotia housing.

Nova Scotia has had a sustained period of flat to slightly down home prices, with the average resale property selling for slightly over $200,000. Experts point to an abundance of inventory and tepid demand from buyers, even in urban areas like Halifax and Sydney.

With mortgage rates falling and prices at a standstill, the overall affordability of Nova Scotia housing has increased over the past year, which is good news for residents looking to purchase a home or move up the property ladder.

Resale Home Prices in Nova Scotia

QuarterNova ScotiaCanada
Q1/13$218,768$367,382
Q2/13$214,631$372,775
Q3/13$217,626$388,651
Q4/13$221,000$381,900
Q1/14$210,450$399,945
Q2/14$215,147$402,605
Q3/14$215,147$409,388
Q4/14$215,148$416,410
Q1/15$215,149$425,062
Q2/15$215,150$438,866
Q3/15$225,000$445,000
Q4/15$220,500$438,200
Q1/16$215,000$440,800
Q2/16$220,000$441,800

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 Nova Scotia 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 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.

Mortgage news

Read More Like This