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Variable or fixed: which is lower?

One of the most important decisions Saint John 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 vs. 5-year variable mortgage rates in New Brunswick

04/20 2.33%2.77%
05/20 2.11%2.46%
06/20 2.04%2.39%
07/20 2.02%2.36%
08/20 2.02%2.33%
09/20 1.95%2.02%
10/20 1.83%1.94%
11/20 1.69%1.73%
12/20 1.72%1.80%
01/21 1.63%1.99%
02/21 1.50%1.63%

Last Updated: March 1, 2021

Focus On

Saint John housing.

Recently, the housing market in Saint John has been very stable. The average price of a home in Saint John is now just under $200,000. Realtors point to low mortgage rates as the main reason why prices have held up.

The average price of a single detached home in Saint John falls more than $200,000 below the national average.

Average residential home prices by city

Saint John$211,218$215,300$215,300

Last Updated: October 20th, 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 Saint John currently average just over $200,000 according to REMAX.

Single-detached family home prices by Atlantic region as of July 2020

RegionAverage Residential Price
Saint John$211,218
St John’s$296,312

Last Updated: October 20th, 2020

Source: REMAX

Town home Home and Condo Prices by Province as of July, 2020

Saint John$215,300
St John’s$209,362

Last Updated: October 20th, 2020

Source: REMAX

About Saint John.

Saint John is the largest city in New Brunswick and the second largest city in the Maritimes. It’s also a town that boasts many awards, including being a Top 7 Intelligent Community in 2012 and CBC Maritime's Cultureville in 2011.

Four times regarded as "Canada's Most Affordable City" by Runzheimer Canada and the CMHC, homebuyers in Saint John enjoy a generally stable housing market with prices that are well below the national average.

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