HomebuyingREPORT: Canadian mortgage rates and housing market trends 2020
Experts say we haven’t yet seen the full effects of COVID-19 on the housing market.
Compare the best current mortgage rates in Yukon for free.
On average, Canadians save thousands of dollars per year by comparing rates with us.
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Compare mortgage rates in Yukon.
Looking for the lowest mortgage rates in Yukon? You’ve come to the right place. Here at LowestRates.ca, we help you find and compare the best rates from all the top mortgage brokers and banks in the territory. Our service is free and there’s no obligation on your part. Just tell us what type of mortgage you’re in the market for, and we’ll do the rest.
Check out the charts below to see how much you can save by comparing rates and to find out more about Yukon’s housing market.
Lower rates = bigger savings.
Rates on our site have been much, much lower than posted bank rates for the past two years. Our 5-year fixed rates have averaged less than 2.5%, while the banks’ rates average over 4.5%.
On a $400,000 mortgage, that difference in rates would result in more than $100,000 of savings over the life of your loan. Whether you’re house hunting in Whitehorse or in Dawson, savings like that can have a massive impact on your finances.
On average, LR.ca rates are more than 2 full percentage points lower than posted bank rates.On a $400,000 mortgage that’s an average savings of:
$439 Per Month
$5,264 Per Year
$131,596 In a Lifetime
5-year fixed mortgage rate from LowestRates.ca in Yukon vs 5-year bank rate
| Month | Average LR.ca 5-year fixed rate | Average bank 5-year fixed rate |
|---|---|---|
| 02/18 | 3.01% | 5.14% |
| 03/18 | 3.07% | 5.14% |
| 04/18 | 3.08% | 5.14% |
| 05/18 | 3.18% | 5.34% |
| 06/18 | 3.16% | 5.34% |
| 07/18 | 3.14% | 5.34% |
| 08/18 | 3.19% | 5.34% |
| 09/18 | 3.17% | 5.34% |
| 10/18 | 3.29% | 5.34% |
| 11/18 | 3.37% | 5.34% |
| 12/18 | 3.42% | 5.34% |
| 01/19 | 3.33% | 5.34% |
Variable or fixed: which is lower?
You can save big money by shopping around for a mortgage, but first you need to decide between variable and fixed rates. So we looked at the LR.ca 5-year fixed rate mortgages and the LR.ca 5-year variable rate mortgages that Canadians have been applying for on our site. As it turns out, variable rates are almost half a percentage point lower.
On average, variable rates are almost half a percentage point lower than fixed rates.On a $400,000 mortgage that’s an average savings of:
$142 Per Month
$1,705 Per Year
$42,618 In a Lifetime
5-year fixed mortgage rate in Yukon vs 5-year variable rate from LowestRates.ca
| Month | Our average 5-year fixed rate | Our average 5-year variable rate |
|---|---|---|
| 02/18 | 3.01% | 2.22% |
| 03/18 | 3.07% | 2.21% |
| 04/18 | 3.08% | 2.19% |
| 05/18 | 3.18% | 2.22% |
| 06/18 | 3.16% | 2.16% |
| 07/18 | 3.14% | 2.32% |
| 08/18 | 3.19% | 2.45% |
| 09/18 | 3.17% | 2.42% |
| 10/18 | 3.29% | 2.48% |
| 11/18 | 3.37% | 2.62% |
| 12/18 | 3.42% | 2.61% |
| 01/19 | 3.33% | 2.63% |
Focus On
Yukon housing.
Resale home prices in Whitehorse have stayed flat recently, hovering just above $350,000 on average in 2016. Falling mortgage rates have translated into improving affordability for Yukon homebuyers and your mortgage dollars will go as far, or farther than, they did last year when it comes to purchasing a property.
Resale Home Prices in Whitehorse
| Whitehorse | Canada | |
|---|---|---|
| 2012 | $358,978 | $363,483 |
| 2013 | $357,084 | $382,937 |
| 2014 | $362,246 | $408,411 |
| 2015 | $361,968 | $442,999 |
| 2016 (F) | $367,900 | $474,200 |
Two-Storey Home and Condo Prices by Province
| Province | Two Storey | Condo |
|---|---|---|
| British Columbia | $749,500 | $319,400 |
| Alberta | $405,000 | $255,100 |
| Saskatchewan | $384,500 | $246,100 |
| Manitoba | $322,600 | $207,500 |
| Ontario | $528,900 | $280,800 |
| Québec | $323,700 | $201,400 |
| Canadian Average | $466,100 | $254,800 |
Your Yukon mortgage questions, answered.
Variable or fixed: which is more popular?
Of the hundreds of thousands of Canadian borrowers who have shopped for a mortgage at LowestRates.ca since 2014, most have taken variable rate loans. Variable rates have been significantly lower than fixed rates for the last few years and look set to remain that way for the foreseeable future.
5-Year Fixed Rates vs. 5-Year Variable Rates in Canada: Who Takes What?✝
- of Canadians apply for 5-year variable mortgages
- 57%
- of Canadians apply for 5-year fixed mortgages
- 43%
✝Based on Canadian borrowers who applied for a mortgage at LowestRates.ca since 2014.
About Yukon
Bordering Alaska to the west and British Columbia to the south, Yukon is the smallest of Canada's three federal territories, after the Northwest Territories and Nunavut. The capital city is Whitehorse, home to the Yukon Arts Centre. The main economic activity is in mining, especially lead and zinc. TravelYukon.com chooses the slogan "Visit the Yukon-it's Larger than Life", and the city is certainly an outsized destination for road trips, outdoor adventures, and unique cultural experiences.
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