Compare the best current mortgage rates in Nunavut for free.

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

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Variable Rates

As low as

1.55%

Fixed Rates

As low as

2.14%

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

Current lowest posted bank rate

2.19%

 

Lower mortgage rates = bigger savings.


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

DateAverage Conventional RateAverage High Ratio Rate
04/20 2.78%2.55%
05/20 2.45%2.29%
06/20 2.31%2.18%
07/20 2.14%1.99%
08/20 2.01%1.86%
09/20 1.93%1.79%
10/20 1.91%1.78%
11/20 1.84%1.69%
12/20 1.82%1.63%
01/21 1.82%1.62%
02/21 1.69%1.55%

Last Updated: March 1, 2021

Variable or fixed mortgage rates: which one is best?

How do the best variable rates stack up against the best fixed rates? We compared LR.ca 5-year fixed rate mortgages and LR.ca 5-year variable rate mortgages that Canadians have applied for on our site to find out. Turns out, variable rates are just a bit lower. For Nunavut borrowers looking for the lowest rate, variable is the way to go. If you want your payments and interest rates to stay the same for the entire mortgage term, then fixed is a better option.

5-year fixed vs. 5-year variable mortgage rates in Nunavut

MonthFixedVariable
04/20 2.31%2.72%
05/20 2.09%2.40%
06/20 2.04%2.27%
07/20 1.85%2.07%
08/20 1.81%1.95%
09/20 1.76%1.87%
10/20 1.77%1.84%
11/20 1.73%1.75%
12/20 1.68%1.71%
01/21 1.63%1.71%
02/21 1.50%1.63%

Last Updated: March 1, 2021

Your Nunavut mortgage questions, answered.

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

Variable or fixed: which is more popular?

After you’ve determined how much money you’re able to put down to purchase your home, you’ll then need to decide whether you prefer a variable or fixed rate structure. While variable rates have been known to yield more savings for homebuyers, there are a number of factors to consider when making the decision. For instance, your risk tolerance might influence whether a fixed or variable rate is more appropriate for you.

About Nunavut

Officially separated from the Northwest Territories in 1999, Nunavut is a place that lends itself to superlatives: it is the newest, largest, and least populated territory or province. It's also a place that gives new meaning to the word sparse: for each person living in the territory there are 65 square kilometers. Nunavut is so remote that it is usually only accessible by air or sea. The capital, Iqaluit, is located on Baffin Island, just north of Quebec. The territory is home to the northernmost permanently inhabited place in the world, Alert, a military installation about 800 kilometers from the North Pole. Approximately 70% of the population speak an Inuit language as their mother tongue.

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