Lowest mortgage rates in New Brunswick (March 2026)
Compare the best mortgage rates available in New Brunswick across top banks and lenders.
Current mortgage rates in New Brunswick
| Name | 2-Year Fixed | 3-Year Fixed | 4-Year Fixed | 5-Year Fixed | 5-Year Variable |
|---|---|---|---|---|---|
| BMO | 7.34 | 6.95 | 6.74 | 6.79 | 6.7 |
| CIBC | 6.99 | 6.99 | 6.74 | 6.84 | 6.7 |
| Nesto | 5.84 | 4.79 | 4.89 | 4.34 | 5.4 |
| Pine | 6.24 | 4.24 | 4.54 | 4.34 | 4.75 |
| RBC | 5.89 | 5.09 | 4.99 | 4.94 | 6.1 |
| Scotiabank | 7.19 | 6.74 | 6.54 | 6.59 | 7.15 |
| TD | 7.34 | 5.22 | 6.74 | 5.12 | 6.19 |
| True North | 4.99 | 4.84 | 4.84 | 4.49 | 5.5 |
This table was last updated on December 21, 2024 rates are from the data available on each institution’s website.
New Brunswick housing market overview (2026)
New Brunswick offers some of the most affordable housing in Canada, with average home prices around $290,000 to $320,000. Saint John, Moncton, and Fredericton are the primary markets, each with relatively moderate prices compared to Ontario or BC.
This affordability, combined with competitive mortgage rates, makes New Brunswick an attractive market for first-time buyers and those relocating from higher-cost provinces.
Why New Brunswick is attracting homebuyers
- Affordability — Average prices roughly 40% of the national average
- Remote work migration — Many Ontarians and others relocating for lower costs
- Atlantic Immigration Pilot — Drawing new residents and workers
- Lower stress test barrier — Easier to qualify on NB incomes
- Quality of life — Lower density, natural beauty, bilingual communities
Fixed vs variable mortgage rates
| Feature | Fixed Rate | Variable Rate |
|---|---|---|
| Rate stability | Locked for the term | Changes with BoC rate |
| Typical starting rate | Higher | Lower |
| Risk level | Low — predictable payments | Higher — payments may increase |
| Best for | Budget certainty | Those expecting rate drops |
| Penalty to break | Interest rate differential (IRD) | Usually 3 months’ interest |
How mortgage rates affect your payment
On a $300,000 New Brunswick home with 5% down ($15,000) and 25-year amortization:
| Mortgage Rate | Monthly Payment | Total Interest (25 yr) |
|---|---|---|
| 4.0% | $1,497 | ~$164,000 |
| 4.5% | $1,571 | ~$186,000 |
| 5.0% | $1,648 | ~$209,000 |
| 5.5% | $1,727 | ~$233,000 |
A 1% rate increase adds approximately $151/month or $45,000 over 25 years.
Use the New Brunswick mortgage payment calculator for exact figures.
New Brunswick land transfer tax
When purchasing property in New Brunswick, you will pay a real property transfer tax. This is an important closing cost to budget for.
Use the New Brunswick land transfer tax calculator to calculate the exact amount based on your purchase price.
Mortgage affordability in New Brunswick
Before locking in a rate, check how much home you can afford. Use the New Brunswick mortgage affordability calculator to estimate your maximum purchase price based on your income and debts.
Tips for getting the best rate in New Brunswick
- Compare multiple lenders — rates vary between banks, credit unions, and mortgage brokers
- Improve your credit score — higher scores unlock better rates
- Consider a larger down payment — 20% or more avoids mortgage insurance and may qualify for better rates
- Choose the right term — shorter terms (1-3 years) often have lower rates but require more frequent renewals
- Get pre-approved — locks in your rate for 90 to 120 days while you shop
Additional costs in New Brunswick
- Land transfer tax — real property transfer tax on purchase price
- HST on new homes — 15% HST applies to new construction (resale homes are HST-exempt); see the NB sales tax calculator
- Mortgage insurance — required if less than 20% down; see the NB mortgage insurance calculator
- Property taxes — vary by municipality
- Legal fees — $1,000 to $2,000
Frequently asked questions
What are the current mortgage rates in New Brunswick?
Fixed 5-year rates typically range from 4.0% to 5.0%. Variable rates may start lower but fluctuate with the Bank of Canada rate.
How much is a mortgage payment on a $300,000 home?
With 5% down, 4.5% rate, 25-year amortization: approximately $1,570/month including mortgage insurance.
Does New Brunswick have affordable housing?
Yes — average home prices of $275,000 to $300,000 are well below the national average.
Related guides
- New Brunswick mortgage payment calculator — Calculate your exact monthly payment
- New Brunswick land transfer tax calculator — Property transfer costs
- New Brunswick mortgage affordability calculator — How much home can you afford?
- New Brunswick mortgage insurance calculator — CMHC premiums for NB
- New Brunswick real estate commission calculator — Commission on home sales
- New Brunswick tax brackets 2026 — Provincial and federal rates
- New Brunswick sales tax calculator — 15% HST calculations
- New Brunswick minimum wage 2026 — Current rates and history
- Down payment calculator — Plan your down payment
- FHSA calculator — First Home Savings Account for first-time buyers
- Income needed to buy a home in Canada — Salary requirements by province
