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Compare mortgage rates in Regina.
Regina homebuyers are in luck: in addition to benefitting from subdued home prices, they can also take advantage of mortgage rates that are hovering near record lows. With good prices and great rates, it’s a perfect time to apply for a mortgage or renew the one you already have.
Variable or fixed: which is lower?
One of the most important decisions Regina borrowers will make is whether to choose a variable rate or a fixed rate mortgage. We compared the 5-year variable and the 5-year fixed rates that have been available on our site (and taken by our users) since the start of 2019. Our findings? While there has been some fluctuation, variable rates are just a bit lower than fixed rates.
5-year fixed rates vs. 5-year variable rates in Saskatchewan.
| Month | Fixed | Variable |
|---|---|---|
| Sep-19 | 2.38% | 2.70% |
| Oct-19 | 2.48% | 2.70% |
| Nov-19 | 2.49% | 2.70% |
| Dec-19 | 2.49% | 2.70% |
| Jan-20 | 2.67% | 2.70% |
| Feb-20 | 2.45% | 2.70% |
| Mar-20 | 2.38% | 2.25% |
| Apr-20 | 2.62% | 2.15% |
| May-20 | 2.40% | 1.19% |
| Jun-20 | 2.32% | 1.79% |
| Jul-20 | 1.99% | 1.79% |
| Aug-20 | 2.00% | 1.79% |
Last Updated: October 22th, 2020
Focus On
Regina housing.
People shopping for real estate in Regina are experiencing a true buyer’s market. A slowdown in the energy sector is leading many potential Regina homebuyers to hold off on their property purchases or, at the minimum, offer lower asking prices than they would have a year earlier.
Despite the slowdown seen in the Regina housing market, the city maintains an unusually low unemployment rate and an impressive number of high-paying jobs. With average home prices currently sitting at $282,400, Regina still boasts one of the most affordable housing markets in all of Canada
Average residential home prices by city
| City | Single-detached | Townhouse | Apartment |
|---|---|---|---|
| Canada | $586,149 | $524,000 | $428,200 |
| Vancouver | $1,038,700 | $800,600 | $684,100 |
| Calgary | $414,700 | $277,800 | $247,600 |
| Edmonton | $322,700 | $210,500 | $181,900 |
| Toronto | $890,400 | $669,900 | $593,000 |
| Ottawa | $517,800 | $364,400 | $370,400 |
| Montreal | $408,200 | $417,800 | $317,400 |
| Regina | $282,400 | $241,500 | $174,800 |
Last Updated: October 22th, 2020
Source: Canadian Real Estate Association
Buyers in search of a new build this year are benefitting from very consistent pricing from month to month and neighbourhood to neighbourhood. New single-detached homes in Regina currently average just under $300,000 according to the CMHC.
Average Home Prices in Regina.
| Date | Home Prices |
|---|---|
| Aug 2019 | $273,000 |
| Sep 2019 | $271,700 |
| Oct 2019 | $268,100 |
| Nov 2019 | $268,300 |
| Dec 2019 | $269,200 |
| Jan 2020 | $269,300 |
| Feb 2020 | $269,200 |
| Mar 2020 | $269,900 |
| Apr 2020 | $271,000 |
| May 2020 | $272,200 |
| Jun 2020 | $274,100 |
| Jul 2020 | $279,400 |
| Aug 2020 | $282,400 |
Last Updated: October 22th, 2020
Source: Canadian Real Estate Association
Average apartment and townhouse prices Prices in Regina
| Year | Apartment | Townhouse |
|---|---|---|
| Aug 2019 | $276,500 | $230,700 |
| Sep 2019 | $284,300 | $223,900 |
| Oct 2019 | $288,500 | $226,000 |
| Nov 2019 | $288,700 | $230,100 |
| Dec 2019 | $295,600 | $225,100 |
| Jan 2020 | $297,800 | $219,700 |
| Feb 2020 | $302,900 | $219,000 |
| Mar 2020 | $310,200 | $218,600 |
| Apr 2020 | $308,500 | $221,700 |
| May 2020 | $309,900 | $231,200 |
| Jun 2020 | $312,100 | $233,600 |
| Jul 2020 | $316,900 | $230,500 |
| Aug 2020 | $317,400 | $241,500 |
Last Updated: October 22th, 2020
Source: Canadian Real Estate Association
About Regina.
Regina serves as the cultural and economic hub of the province. With nearly 200,000 residents, it’s home to a diverse population consisting of German, English, Scottish, and Aboriginal communities.
Abundant oil and gas jobs combined with low interest rates have been a boon to Regina's economic prospects, and the city currently enjoys one of the lowest unemployment rates of any major Canadian city, at less than 4%.
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