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Compare mortgage rates in Winnipeg.

Borrowers in Winnipeg continue to enjoy extremely low mortgage rates. Banks and brokers in the city are competing hard for new business right now, which puts homebuyers in the driver’s seat when they’re shopping for a loan. Remember, you can see all the lowest mortgage rates in Winnipeg right here at LowestRates.ca.

Variable or fixed: which is lower?

Here’s a simple answer: variable rates are usually lower — according to our data at least. For the past two years, our variable rates have been lower than our fixed rates except for a brief period during 2019-2020. Just take a look at the graph below and you’ll see the difference yourself.

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

MonthFixedVariable
Sep-192.43%2.70 %
Oct-192.49%2.70%
Nov-192.45%2.70%
Dec-192.46%2.70%
Jan-202.67%2.70%
Feb-202.53%2.70%
Mar-202.36%2.15%
Apr-202.61%2.14%
May-202.43%2.01%
Jun-202.28%2.04%
Jul-202.14%1.96%
Aug-201.97%1.95%

Last Updated: October 22th, 2020

Focus On

Winnipeg housing.

'Stable' is probably the defining word when it comes to Winnipeg real estate. Overall existing home sales in the city fluctuated between 2019 and 2020. Prices have inched up on the year but gains have been very modest, with the average Winnipeg resale home fetching just above $289,000.

Many forecasters, including the Canada Mortgage and Housing Corporation (CMHC), see Winnipeg home prices edging higher in the next couple of years as a flood of first-time buyers enters the market.

Average residential home prices by city

CitySingle-detachedTownhouseApartment
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
Winnipeg$298,900$235,500$195,400

Last Updated: October 22th, 2020

According to the CMHC, new home prices in Winnipeg are also expected to increase this year, driven in part by low mortgage rates, limited inventory, and positive net migration. Home prices in Winnipeg have seen decent gains over the past five years, and now average around $298,900

Average single-detached house prices in Winnipeg

DateHome Prices
Aug 2019$278,300
Sep 2019$277,600
Oct 2019$278,300
Nov 2019$281,500
Dec 2019$281,300
Jan 2020$279,900
Feb 2020$280,900
Mar 2020$281,400
Apr 2020$283,300
May 2020$283,400
Jun 2020$288,900
Jul 2020$293,300
Aug 2020$298,900

Last Updated: October 22th, 2020

Townhouse and Condo prices in Winnipeg

YearTownhouseCondo
Aug 2019$230,600$195,000
Sep 2019$230,900$193,100
Oct 2019$233,700$191,600
Nov 2019$227,300$193,300
Dec 2019$224,500$195,400
Jan 2020$219,100$196,200
Feb 2020$225,100$193,100
Mar 2020$228,800$191,700
Apr 2020$228,200$187,700
May 2020$226,500$191,200
Jun 2020$231,500$193,400
Jul 2020$233,100$195,200
Aug 2020$235,500$195,400

Last Updated: October 22th, 2020

About Winnipeg.

With over 700,000 residents, Winnipeg is home to more than half of Manitoba's population. The city is also home to the world class Winnipeg Symphony Orchestra and Canada's oldest ballet company, the Winnipeg Royal Ballet. Residents and visitors alike can also enjoy the many impressive visual arts collections housed in the city.

It's culturally diverse too. Winnipeg has the highest Filipino population of any municipality in Canada according to Statistics Canada, and the highest percentage of Aboriginal people in any major Canadian city. Tourism Winnipeg promotes the town as a "bustling cosmopolitan city with plenty of small town charm and a proud aboriginal heritage."

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