New Brunswick Mortgage Rates
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New Brunswick mortgage rate update: September 2025
It's an active month for mortgage rates in New Brunswick.
On September 17, 2025, the Bank of Canada lowered its overnight rate 25 basis points to 2.5%. Lenders have already responded by lowering their variable mortgage rates.
Some mortgage brokerages are now offering variable rates around 3.7%. They’re still well over 4% at the big banks.
Variable rates could dip again if a cut is handed down at the Bank of Canada’s next overnight rate announcement, which is scheduled for October 23.
Fixed mortgage rates have also edged down in September, but this is a response to falling government bond yields, not the Bank of Canada’s cut.
Three- and five-year yields, which lenders use to price their fixed rates, have been sliding all month. It was just a matter of time before three-year fixed rates and five-year fixed rates followed suit.
Rates aren't exactly plummeting, but we are seeing improved offers at some of Canada's biggest banks. Three- and five-year fixed rates are still well over 4% at the Big Six, but they're around 3.9% at some brokerages.
What’s a good mortgage rate in New Brunswick right now?
As of September 2025, some mortgage brokers in New Brunswick are offering fixed rates around 3.9%. Variable rates are generally 4% or higher.
The rate offers you receive depend on factors like your credit score, total debt level and income, and whether you apply at a major bank or through a mortgage broker.
2025 New Brunswick mortgage rate forecast
Mortgage rates may decrease further in the second half of 2025.
The Bank of Canada is expected to reduce its overnight rate again twice before the end of the year, which would lower variable mortgage rates by at least 0.5% versus today’s levels.
Fixed mortgage rates will likely continue hovering between 3.75% and 4.25% for the remainder of 2025.
Read more about the Bank of Canada's latest rate announcement.
The BoC makes policy interest rate announcements eight times a year. Find out how its latest decision might impact Canada's housing market.
New Brunswick housing market update
New Brunswick’s housing market hit a wall in August 2025. Sales fell by almost 20% versus July, and were down 7.2% year-over-year, according to the New Brunswick Real Estate Board.
It was an abrupt turnaround for the province’s housing market after notching its best month of the year in July. Sales for August were 12.2% below the 10-year average for the month.
Even though sales stalled, prices were generally on the rise.
The overall benchmark sale price in New Brunswick, $328,400, was 6.2% higher than a year ago. The growth was driven by rising detached house prices, which made up for a significant decline in townhouse and row house prices.
New Brunswick home buyer resources
Programs for first-time home buyers in New Brunswick
New Brunswick’s Homeownership Assistance Program (HAP), is intended for first-time home buyers earning a total household income of $40,000 or less. The HAP offers loans of up to $75,000, which are meant to be combined with mortgage financing. No interest is charged on the HAP loan if the borrower’s income is less than $30,000; the interest rate increases by 0.5% for every $1,000 in adjusted income beyond $30,000. HAP loans are expected to be paid back within 25 years.
The Off-Reserve Aboriginal Home Ownership Program, is available for Indigenous New Brunswick residents interested in buying or building their first home. To qualify, borrowers must earn a total household income of $55,000 or less, and have a shelter cost-to-income ratio no higher than 30%.
If you’re not eligible for these provincial programs, consider investigating federal initiatives such as the Home Buyers’ Plan or the First Home Savings Account. These tools can be combined, so it might be worth studying both to see which ones fit your goals and finances.
Land transfer taxes in New Brunswick
New Brunswick charges a 1% rate of the home's value in many cases.
Mortgage calculators
Frequently asked questions
How do you get a lower mortgage rate in New Brunswick?
How do you get a lower mortgage rate in New Brunswick?
Some of the mechanisms that shape rates are beyond your control, but there are steps you can take to convince lenders to offer you the best mortgage rates. For example, you can try:
Improving your credit score. A higher credit score generally results in better loan offers. Get a better score by eliminating existing debt and paying future bills in full and on time.
Increasing your income. It’s not always easy, but any additional income you can earn will improve your financial position. Lenders look at your income to assess your ability to afford a mortgage.
Decreasing your total debts. Lenders consider your total debt load when determining your mortgage rate. Pay down personal loans, student loans or other types of debts if you can.
Considering all your mortgage options. Adjusting the loan type, term length or the amortization period of your loan could result in a better rate offer.
Will mortgage rates go down in 2025?
Will mortgage rates go down in 2025?
The Bank of Canada overnight rate has been unchanged since March. If the bank lowers the rate, lower variable mortgage rates will follow. Fixed mortgage rates will likely continue hovering between 3.75% and 4.25% for much of the year.
How do New Brunswick lenders determine mortgage rates?
How do New Brunswick lenders determine mortgage rates?
The mortgage rate you’re offered by a lender in New Brunswick will be based on two primary factors; one based on the state of the economy and one based on your financial situation.
Economic factors
Variable mortgage rates are influenced by the Bank of Canada’s overnight rate. When the overnight rate increases or decreases, a lender’s prime rate follows suit. Variable mortgage rates are based on a lender’s prime rate, so as the prime rate rises or falls, so do variable rates.
Fixed mortgage rates are determined by activity in the government bond market, particularly the yields on one-, three- and five-year bonds. Fixed mortgage rates follow the movement of those yields.
Your financial situation
Factors specific to you also affect the rates you’re offered. These include:
Lenders look for signs of risk when assessing these aspects of your finances. The riskier they perceive you to be as a borrower, the higher the rate they’re likely to offer you.
DIVE EVEN DEEPER
Clay Jarvis