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Check out today's best mortgage rates in Canada by type and term.
| Insured ? | 80% LTV ? The rates in this column apply to mortgage amounts between 65.01% and 80% of the property value. The home must be owner-occupied and have an amortization of 25 years or less. You must have purchased it for less than $1 million. These rates are not available on refinances. Refinances require "Uninsured" rates. | 65% LTV ? The rates in this column apply to mortgage amounts that are 65% of the property value or less. The home must be owner-occupied and have an amortization of 25 years or less. You must have purchased it for less than $1 million. These rates are not available on refinances. Refinances require "Uninsured" rates. | Uninsured ? | Bank Rate ? | ||
|---|---|---|---|---|---|---|
Insured 4.64% | 80% LTV 4.19% | 65% LTV 4.19% | Uninsured 4.99% | 4.99% | ||
Insured 3.99% | 80% LTV 3.89% | 65% LTV 3.89% | Uninsured 4.44% | 4.53% | ||
Insured 3.69% | 80% LTV 3.79% | 65% LTV 3.79% | Uninsured 3.9% | 4.39% | ||
Insured 3.84% | 80% LTV 3.99% | 65% LTV 3.99% | Uninsured 4.39% | 4.44% | ||
Insured 3.69% | 80% LTV 3.55% | 65% LTV 3.55% | Uninsured 3.69% | 4.19% | ||
Insured 4.19% | 80% LTV 4.24% | 65% LTV 4.24% | Uninsured 4.89% | 5% | ||
Insured 5.04% | 80% LTV 4.34% | 65% LTV 4.34% | Uninsured 5.24% | 6.09% | ||
Insured 3.9% | 80% LTV 3.95% | 65% LTV 3.9% | Uninsured 3.9% | 5.95% | ||
Insured 3.45% | 80% LTV 3.45% | 65% LTV 3.45% | Uninsured 3.5% | 4.24% | ||
Insured N/A | 80% LTV N/A | 65% LTV N/A | Uninsured N/A | N/A | ||
Insured 5.45% | 80% LTV 5.45% | 65% LTV 5.45% | Uninsured 5.5% | N/A |
There are three main drivers behind mortgage rates in Regina and Canada at large:
The Bank of Canada influences mortgage rates through its policy rate. The Bank’s objective is to keep inflation in the target range of 1% to 3% and preserve the value of the Canadian dollar. It achieves this by setting the target overnight rate, also known as the policy rate.
As of today, the policy rate is 2.25%. The central bank uses the target rate to influence how the banks set their own rates and acts as a barometer for the rate at which banks borrow and lend among themselves.
The higher the inflation, particularly if it’s above 3%, the higher the likelihood of a rate hike. Though inflation does not directly affect mortgage rates, the Bank tends to raise rates to cool down economic activity and force homebuyers to retreat from the market. It’s worth noting that government bond yields, which influence fixed rates, are affected by inflation as well, in addition to factors like oil prices, geopolitical tensions and broader economic conditions (which currently remain uncertain).
Banks, credit unions, monoline lenders and other financial institutions compete to attract borrowers across Regina and beyond. During competitive market conditions, lenders may offer better rates. Shopping around and comparing multiple lenders — including local Saskatchewan credit unions like Conexus Credit Union — can often result in a better mortgage rate.
Lenders take a number of factors into account when considering your mortgage application and determining the mortgage interest rates for your Regina home purchase.
Here are the main factors banks use to calculate your mortgage rate in Regina.
1. Down payment
The size of your down payment relative to the purchase price is one of the main factors that banks use to set mortgage interest rates. And, of course, the size of your down payment largely determines the size of your mortgage loan.
In Canada, you are required to make a down payment that’s between 5% and 20% of the home’s purchase price. The exact percentage depends on the price of the home. Here are the federal government’s rules governing the down payment amount:
Remember, if you decide to purchase a property with a down payment less than 20% of the home’s value, you will have to budget for Canada Mortgage and Housing Corporation (CMHC) mortgage insurance as well.
2. Debt service ratios
Along with your down payment amount, debt ratios are additional factors lenders consider when setting your mortgage interest rates. There are two main types of debt ratio you should know.
3. Credit score
Your credit score is a number between 300 and 900 that tells potential lenders how safe or risky it might be to lend you money. This is based on your borrowing and repayment history on your credit report. A higher credit score means you appear to be more creditworthy, which could help you qualify for the lowest mortgage interest rates for your Regina home purchase.
Lower credit scores reflect missed payments and other problems lenders may have had with lending you money in the past, or a lack of experience with loans. Since a lower credit score means it could be riskier to lend you money, this means banks could set mortgage rates for your Regina home higher. If you need to buy CMHC mortgage insurance, CMHC requires a minimum credit score of 600. Remember, you will need CMHC insurance if your down payment is less than 20% of the property’s purchase price.
4. Employment and income
Lenders will want to get a picture of your regular income and where it is coming from, whether that’s a salaried job, self-employment, rental income or investments. If you are self-employed, lenders will ask for more documents. These could include your tax returns from the previous three years, articles of incorporation, your business’s credit score, business license or GST license, proof that you are a principal owner of the business, Notice of Assessment from the Canada Revenue Agency showing you are up to date on HST and GST payments, client contracts showing expected future income, and your business’s financial statements.
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How do these mortgage types differ? Conventional (low-ratio) mortgage requires a down payment of 20% or more, with no mandatory insurance, while a high-ratio mortgage requires a down payment of below 20%, plus mandatory insurance.
Which mortgage type offers cheaper rates? As of September 2026, the average conventional 5-year fixed rate is 4.38%. That’s 5 bps above the average high-ratio 5-year fixed rate, which stands at 4.33%.
| Date | Average Conventional Rate | Average High Ratio Rate |
|---|---|---|
| 12/24 | 4.79% | 4.56% |
| 01/25 | 4.80% | 4.60% |
| 02/25 | 4.80% | 4.57% |
| 03/25 | 4.68% | 4.45% |
| 04/25 | 4.67% | 4.46% |
| 05/25 | 4.75% | 4.62% |
| 06/25 | 4.73% | 4.63% |
| 07/25 | 4.60% | 4.40% |
| 08/25 | 4.61% | 4.44% |
| 09/25 | 4.53% | 4.44% |
| 10/25 | 4.49% | 4.36% |
| 11/25 | 4.38% | 4.33% |
Last Updated: September 1, 2026
How do these mortgage rates differ? A fixed rate mortgage is a rate fixed over a period of time. Interest rates and the mortgage payments remain the same (and consistent) over that mortgage term. A variable rate mortgage is different. While the mortgage payment remains constant, the interest rate payments fluctuate with the prime interest rate.
Which rate is cheaper? As of September 2026, the 5-year fixed rate is 4.25%. That’s 43 bps below the 5-year variable rate, which stands at 4.68%.
| Month | Fixed | Variable |
|---|---|---|
| 09/25 | 4.27% | 5.07% |
| 10/25 | 4.24% | 4.90% |
| 11/25 | 4.17% | 4.68% |
| 12/25 | 4.25% | 4.69% |
| 01/26 | 4.36% | 4.69% |
| 02/26 | 4.34% | 4.69% |
| 03/26 | 4.23% | 4.68% |
| 08/26 | 4.25% | 4.68% |
Last Updated: September 1, 2026
New mortgage loan values have been trending upward throughout 2025, reaching the average of $276,449 in Regina and $360,597 in Canada by the end of Q4 2025.
Here are all the average new mortgages loan values in Regina from 2022 to 2025:
| Q1 – 2022 | Q2 – 2022 | Q3 – 2022 | Q4 – 2022 | Q1 – 2023 | Q2 – 2023 | Q3 – 2023 | Q4 – 2023 | Q1 – 2024 | Q2 – 2024 | Q3 – 2024 | Q4 – 2024 | Q1 – 2025 | Q2 – 2025 | Q3 – 2025 | Q4 – 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Canada | $368,936 | $371,063 | $363,654 | $325,612 | $320,298 | $314,540 | $338,522 | $327,899 | $323,537 | $332,825 | $349,364 | $343,271 | $356,831 | $350,281 | $360,986 | $360,597 |
| Regina | $273,893 | $263,558 | $283,151 | $259,717 | $243,209 | $243,144 | $259,466 | $258,703 | $242,353 | $255,621 | $266,097 | $266,262 | $250,245 | $252,157 | $276,616 | $276,449 |
Scheduled monthly payments have been trending downward throughout 2025, reaching the average of $1,529 in Regina by the end of Q4 2025.
| Q1 – 2022 | Q2 – 2022 | Q3 – 2022 | Q4 – 2022 | Q1 – 2023 | Q2 – 2023 | Q3 – 2023 | Q4 – 2023 | Q1 – 2024 | Q2 – 2024 | Q3 – 2024 | Q4 – 2024 | Q1 – 2025 | Q2 – 2025 | Q3 – 2025 | Q4 – 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| $1,408 | $1,366 | $1,583 | $1,593 | $1,608 | $1,558 | $1,653 | $2,371 | $2,361 | $2,054 | $1,688 | $1,641 | $2,368 | $3,544 | $1,633 | $1,592 |
Closing costs are the one-time fees buyers pay upon purchasing property in Regina. Generally, closing costs include:
There is no land transfer tax in Regina. However, one must pay a land title transfer fee for transferring the property’s title. If the value of the property is over $6,300, the fee payable is equal to 0.4% of the property value. A flat fee $25 is applicable to properties valued from $500 to $6,300. If the property is valued under $500, there is no title transfer fee.
The mortgage term describes the period you are committed to a certain lender, while the amortization period is the entire duration of your mortgage loan.
Open and closed mortgages are aimed at homebuyers with different financial circumstances and plans.
Home buyers should of course shop carefully to find the best mortgage rates in Regina and Saskatchewan. Doing a thorough mortgage rates comparison for your Regina property purchase can save you thousands of dollars in the long run. However, there are other factors you should consider as well to ensure your mortgage meets your needs and you don’t spend more than you need to. Here are some additional factors to consider to save money on your home purchase:
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The better informed you are, the more likely you'll negotiate a better deal for yourself. And, really, that’s what we care about the most.
Taras Trofimov
About the Author
Taras is the Content Manager for LowestRates.ca. He has produced thought leadership content for organizations like Constellation Software, Facebook and Yellow Pages as well as outlets like The Globe and Mail, Autoblog and MSN Autos.
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