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What our users say:

May 31
Great service
Great service
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May 27
Quick and easy
Quick and easy, quotes in minutes. Great customer service reps, helpful and know...
May 19
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May 17
Customer service was great
Customer service was great
May 17
Good service and information
Good service and information
May 17
questions answered
questions answered
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May 16
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Excellent customer seevice
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May 13
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Agent listened and answered all questions. She was very thorough and quick!
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May 11
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Simply professional and pleasant Thank you 👍
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May 11
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Very polite and explained themselves well
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May 10
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Great service Very pleasant to talk to
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May 6
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May 5
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I got the lowest rates I was looking for. Thank you.
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May 5
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When you find the best quote, secure your Yukon mortgage rate by talking to a licensed broker or agent.

Compare mortgage rates in Yukon

Searching for the best mortgage rates in Yukon, Canada? We can help with that. aggregates and compares the best current mortgage rates in Yukon from Canada’s leading mortgage brokers and banks on our digital marketplace.

Comparing mortgage quotes is free and if you’re just here to browse, don’t worry — the service we provide comes with no strings attached.

Shopping for mortgages is easy on Select the type of mortgage you’re interested in and let our comparison engine pull the mortgage offers available to you. help you find a low mortgage rate for your Yukon home — just like that.

Many visitors to share the following questions:

We’ll answer these questions plus we’ll show you how much you can save by comparing rates.

When you’re ready to compare today’s mortgage interest rates for the Yukon, start a form with us. It takes just 3 minutes.

Conventional vs. high-ratio mortgages: which is cheaper?

Mortgages come in two basic flavours—conventional and high-ratio. If you have a substantial down payment—at least 20% of the purchase price of your new home—you qualify for a conventional mortgage. That means your lender is backing the mortgage without any additional guarantees.

If you have less than 20% for a down payment, you’ll be taking on a high-ratio mortgage. You’ll need to buy mortgage insurance, which guarantees your lender will be repaid. Expect your insurance to cost between 2.8% and 4% of your total mortgage, depending on the size of your down payment.

But don’t despair over this added expense. High-ratio mortgages can come with lower interest rates than conventional mortgages. Since your mortgage is insured, your lender significantly reduces any risks associated with lending you money. 

If you have the option of choosing between a conventional and a high-ratio mortgage, talk to your Yukon mortgage broker before deciding which flavour is right for you.

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

DateAverage Conventional RateAverage High Ratio Rate
05/22 4.05%3.73%
06/22 4.38%4.02%
07/22 4.88%4.50%
08/22 4.78%4.36%
09/22 4.76%4.36%
10/22 5.11%4.71%
11/22 5.43%5.13%
12/22 5.22%4.81%
01/23 5.19%4.75%
02/23 5.10%4.68%
03/23 5.05%4.77%
04/23 4.79%4.45%

Last Updated: May 1, 2023

Fixed rate vs. variable rate mortgages: which is cheaper?

With a fixed rate mortgage, you’ll pay interest at a set rate for the entire term of your mortgage loan. With a variable rate Yukon mortgage, your interest payments will fluctuate as rates move up or down. Variable rate mortgages usually cost less than even fixed-rate loans — and they can save you even more money if rates fall over the term of your mortgage. But you could end up paying more if rates increase. Is the risk worth it? We’ve pulled Yukon data from’s user database to see how variable rates in Yukon stack up against Yukon fixed mortgage rates. Check out historical 5-year mortgage rates for Yukon. This will help you determine the average mortgage rate for Yukon.

The Bank of Canada has signaled that rate increases are on the horizon but not until the second half of 2022. That means whether you’re searching for a variable rate or the best fixed Yukon mortgage rates, you’re getting a great deal right now.

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

05/22 3.91%2.26%
06/22 4.26%2.70%
07/22 4.73%3.21%
08/22 4.59%3.78%
09/22 4.59%4.23%
10/22 4.99%4.58%
11/22 5.24%5.06%
12/22 4.97%5.34%
01/23 4.87%5.67%
02/23 4.83%5.89%
03/23 4.88%5.87%
04/23 4.63%5.85%

Last Updated: May 1, 2023

Factors that affect your Yukon mortgage rate

What drives mortgage rates? The answer is a complex one. Big surprise, the economy has a lot to do with it. When growth is strong, rates go up. When the economy is weak, mortgage lenders drop their rates. That’s as true in Yukon as it is anywhere else in the country. At the start of 2021, mortgage rates in the Yukon fell to historic lows.

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Typical mortgage amount in Yukon

Whitehorse house with 5% down: $429,248

(Assumptions: Avg. price of home per CREA, Jan. 2021: $451,840.)

Whitehorse house with 20% down: $361,472

(Assumptions: Avg. price of home per CREA, Jan. 2021: $451,840.)

Yukon’s housing market and home prices

Average home price in Yukon: $451,8405

Average price detached home in Whitehorse: $598,800 (Q4 2020)

Average price condominium in Whitehorse: $459,900 (Q4 2020)

Average price duplex in Whitehorse: $466,100 (Q4 2020)

Yukon closing costs and land transfer tax


Information for first-time homebuyers in Yukon

Federal rules state that you must at least have a down payment of 5% to qualify for a mortgage in the Yukon and elsewhere in Canada.

You might be eligible for the federal government’s First-Time Home Buyers’ Tax Credit, which is worth $5,000. In order to be considered a first-time buyer, you can’t have lived in a home owned by yourself or your partner within the past four years. You must also be purchasing a “qualifying home,” which includes single-family homes, semi-detached, townhouses, mobile homes, and condos. Speak to your mortgage advisor for the full list.

You may be wondering if there is such a thing as a no-down-payment mortgage in the Yukon, also known as zero-down mortgages. The answer is no. The Canadian government banned no-down-payment mortgages in the Yukon and the rest of Canada in 2008.

If you find you don’t have any money for a down payment (hence why you’re looking for a 0-down mortgage in Yukon) you could borrow the money from a private lender. This can be expensive, though. How expensive are private mortgage rates in the Yukon? It’s an unregulated industry, so the broker and lender can set the rate. In some cases, the interest rate can be as high as 20%.

Ottawa offers a rebate on the GST or the federal portion of HST paid on the sale of new or substantially renovated homes. Qualifying for this program can be tough, so talk to your mortgage advisor to see if you’ll qualify.

Homebuyers who receive the federal Disability Tax Credit may also qualify for up to $10,000 in tax credits for renovations that make their homes more accessible. People who care for seniors or those with disabilities may also qualify. If you receive disability credits already, we recommend asking your mortgage advisor about additional tax breaks.

The Yukon government offers a loan program to people who want to build or buy a home in a rural community and cannot get a mortgage from a bank. Those who qualify are eligible for mortgages with amortizations up to 30 years on five-year terms. The interest rates on these mortgages are competitive with posted bank rates.

The Yukon government also offers funding for home upgrades. Yukon homeowners with household incomes of less than $103,000 can qualify. Eligible upgrades include those related to emergency repairs, energy efficiency, accessibility, overcrowding, or health and safety.

There are a number of mortgage calculators for the Yukon that will help you gain more clarity about your fixed expenses (and it’s very important to have a good idea about what these will be when you’re buying a house!).

Want to know how much mortgage you can afford in the Yukon? Use this mortgage affordability calculator provided by the CMHC.

Want to see how much a lower interest rate can lower your monthly mortgage payment? Try this mortgage payment calculator for your Yukon mortgage.

Your questions about Yukon mortgages, answered.

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

What’s the difference between a mortgage term and an amortization period?

The amortization period on your mortgage is the total number of years you expect it will take to pay off the entire loan. Most new mortgages come with amortizations of 25 years, although periods can range from one year to 30 years.

A mortgage term represents the length of time your lender will provide a given interest rate. When the term ends, you need to renegotiate your mortgage. You can do this with your current lender or you can try a new financial institution. Most lenders offer terms ranging from six months to 10 years. The most sought-after mortgage rates on our site are for 5-year fixed mortgages. 

What’s the difference between an open mortgage vs. a closed mortgage?

The difference between open and closed mortgages is simple whether you are in Yukon or anywhere else in Canada: With an open mortgage, you can pay off, refinance or renegotiate your mortgage agreement before its term ends without paying a penalty. If you have a closed mortgage, you must wait until the end of your term to renegotiate or freely make payments against the principal.

The rates on closed mortgages in the Yukon are generally lower than the rates on open mortgages in the Yukon. You’ll also usually have the ability to make limited annual payments against your mortgage principal without penalty. They are generally between 10% and 20% of the principle. People who expect to be able to make larger payments — say from bonuses at work or inheritances — may prefer open mortgages. The interest rate may be higher, but the ability to make large payments against the principal can pay off in the bigger picture.

How much does it cost to live in Yukon?

Yukon is a beautiful territory of mountain wilderness and wild rivers. Even with its long winters, it’s no wonder people who love the outdoor lifestyle choose to move here. But the lifestyle can be expensive. The Yukon is a remote region and the typical cost of living can run high compared to other parts of Canada. For example, the average rent for a two-bedroom apartment in the City of Whitehorse — where 70% of the population lives —stood at $1,210 a month at the end of 2019.13 Electricity costs 14.5 cents per kilowatt-hour, assuming your household uses 1,000-kilowatt hours per month.14You can also expect to pay in the neighbourhood of $1.30 per litre for gasoline. The upside is that incomes in Yukon reflect the cost of living. In 2018, the median family income was $111,030. 

How much does getting a lower interest rate matter in Yukon?

Getting a low interest rate on your mortgage will save you money in both the short and long term.

There are also other facets of a mortgage you need to pay attention to. For example, most mortgages allow you to make lump-sum payments on your mortgage principal without penalty. An open mortgage lets you pay off the entire amount whenever you like. Closed mortgages only allow limited pre-payments but generally come with lower interest rates. So, consider your cash flow over the long term when choosing a mortgage. If you expect a windfall down the road, you may be better off paying a bit more in monthly interest on an open mortgage for the ability to make a large lump sum payment.

You should also consider whether you want a “portable” mortgage when you buy your home. Portability allows you to transfer the balance of your mortgage, its term and interest rate to the purchase of a new home if you decide to move before your mortgage term ends. This means you avoid penalties for breaking a mortgage early, which can be very costly.

But remember, not all mortgages are portable, especially variable rate mortgages. If you think you might want to sell your home before the end of your mortgage term—maybe you have a growing family—think twice before signing up for that low-interest variable rate plan.

Your questions about, answered.

How are mortgage rates determined on can compare rates from 50+ banks and brokers to bring you competitive house mortgage rates for your Yukon home. We’re also always adding new partners to our digital marketplace. We work with our partners to obtain their best deals and offers and then we let them compete for your business. After answering a few questions, you’ll be provided with today’s mortgage rates. There’s no obligation for you, the consumer. If you want, you can choose to speak with our broker partners to lock in your best rate. Our partners can also work with you to see if you qualify for even more savings.

Is it safe to get a mortgage online?

Yes, it’s safe to get a mortgage on — and Canadians are increasingly turning to sites like ours to do just that. Reputable Canadian financial institutions now offer the ability to start the mortgage process online. When using, you can be assured that your credit score won’t be affected and your information is secure. The only time we share your information is when you indicate that you want to speak with one of our broker partners, and even then, we only share your information with that entity. We take care of the heavy lifting by comparing the market for you and can connect you with the best mortgage lenders in the country.

How do I know I’m getting the lowest rate?

We have a strong selection of lenders on including the big banks and many independent providers and we’re adding more lenders all the time. This ensures we’re always delivering you a competitive rate. Even if you’re not ready to commit to anything, you can use our site as a starting point for research. is totally free for you and you’re under no obligation to speak with a broker or secure a mortgage.

The better informed you are, the more likely you'll negotiate a better deal for yourself.

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