Current Mortgage Rates in Nova Scotia
JUMP TO: Broker rates | Bank rates | Getting a mortgage in NS
Nova Scotia mortgage rates available from a broker
 Lender highlights Strong mortgage features.Very good monthly pre-payment.Skip payment not available.Very good annual pre-payment. Best rate from Pine Financial 3.60%5 yearvariable $3,922monthly payment Other rates from Pine Financial4.29% 3 year fixed $4,216 per month 4.29% 4 year fixed $4,216 per month 4.34% 5 year fixed $4,238 per month |
 Lender highlights Strong mortgage features.Very good monthly pre-payment.Skip payment not available.Very good annual pre-payment. Best rate from Radius Financial 3.60%5 yearvariable $3,922monthly payment Other rates from Radius Financial4.39% 5 year fixed $4,259 per month 4.44% 3 year fixed $4,281 per month 4.69% 2 year fixed $4,392 per month 4.69% 4 year fixed $4,392 per month 4.89% 1 year fixed $4,481 per month |
 Lender highlights Some mortgage features.Good monthly pre-payment.Skip a payment.Good annual pre-payment. Best rate from Scotia Bank 3.65%5 yearvariable $3,942monthly payment Other rates from Scotia Bank3.99% 2 year fixed $4,086 per month 4.04% 3 year fixed $4,108 per month 4.19% 4 year fixed $4,172 per month 4.24% 5 year fixed $4,194 per month 4.59% 1 year fixed $4,347 per month |
 Lender highlights Some mortgage features.Good monthly pre-payment.Skip a payment.Good annual pre-payment. Best rate from Manulife Financial 3.65%5 yearvariable $3,942monthly payment Other rates from Manulife Financial4.29% 3 year fixed $4,216 per month 4.34% 5 year fixed $4,238 per month |
 Lender highlights Strong mortgage features.Very good monthly pre-payment.Skip payment not available.Very good annual pre-payment. Best rate from Neo Financial 3.65%5 yearvariable $3,942monthly payment Other rates from Neo Financial4.49% 5 year fixed $4,303 per month 4.64% 3 year fixed $4,370 per month 4.94% 4 year fixed $4,504 per month 5.84% 2 year fixed $4,918 per month 5.94% 1 year fixed $4,965 per month |
Bank mortgage rates available in Nova Scotia
3-Year Fixed | 3-Year Variable | 5-Year Fixed | 5-Year Variable | |
|---|---|---|---|---|
4.67% | 7.78% (open) | 4.76% (insured) 4.86% (uninsured) | 4.12% | |
4.76% | 4.07% | 4.61% (insured) 4.96% (uninsured) | 4.12% | |
4.69% | -- | 4.73% (insured) 4.88% (uninsured) | 4.14% | |
4.53% | -- | 4.62% (insured) 4.92% (uninsured) | 3.68% (insured) 3.98% (uninsured) | |
5.95% | 5.95% | 6.09% | 4.90% | |
4.67% | -- | 4.861% (insured) 4.861% (uninsured) | 4.26% |
Rates in bold are discounted, annual percentage rates (APR), which include additional fees.
Nova Scotia mortgage rate update: September 2026
After the Bank of Canada held its overnight rate at 2.25% on September 2, 2026, we know that variable mortgage rates in Nova Scotia will hover around their current levels until at least the end of October.
The mystery is where fixed rates will go. Unfortunately, the most likely direction is up.
That’s because bond yields, which lenders use to price their fixed mortgage rates, started the month higher than they’ve been in over two years. The global bond sell-off you may have heard about created lower bond prices, which triggered higher yields. Worries around oil prices, inflation and weakening economic growth are forcing yields higher, too.
That could mean higher fixed rates for borrowers in Nova Scotia. If you have your sights set on a fixed-rate mortgage, consider getting pre-approved before rates start rising.
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.
2026 mortgage rate forecast
Variable rates
Variable mortgage rates weren't forecasted to move in 2026, but the war in Iran has changed the game.
By driving up oil prices and inflation expectations, the Bank of Canada has warned that higher rates may be needed to keep inflation near its 2% target.
If the Bank increases its overnight rate, variable mortgage rates will follow suit. That could happen as early as this summer.
If the Canadian economy falters, the Bank may be compelled to deliver a rate cut at some point. But it's hard to picture a rate cut coming just as inflation's about to spike.
Fixed rates
As of September 2026, fixed mortgage rates are higher than they were a few months ago thanks to rapid increases in government bond yields, which lenders use to price their fixed rates. Yields skyrocketed after the war in Iran caused oil prices to spike, and they rose higher in September after the Bank of Canada called out rising inflation and reduced economic growth as threats facing the Canadian economy.
Predicting where fixed rates head in the coming months depends heavily on the war in Iran. If it wraps up without further damage to oil and food supplies, bond yields should recede and take fixed mortgage rates with them. If the war escalates and worsens the global financial outlook, yields and fixed rates could increase even further.
Nova Scotia housing market update
Nova Scotia's housing market had an unremarkable July 2026. Residential sales dipped 0.9% from June and were down 5.9% compared to a year earlier. Year-to-date, home sales in the province remain 8.1% behind the first seven months of 2025.
Home values were essentially flat. The provincial benchmark price rose 0.5% month-over-month to $425,200 but was down 0.2% year-over-year. Halifax-Dartmouth's benchmark edged up 0.4% monthly to $554,200 (-0.1% year-over-year).
State of the market: Balanced. Nova Scotia's market sits close to long-term norms with a modest tilt toward buyers.
Nova Scotia first-time home buyer programs
There are two provincial programs available to help buyers cope with the challenges of buying a first home in Nova Scotia, including:
Down Payment Assistance Program. If you’re pre-qualified for an insured mortgage, you can apply for a loan worth up to $25,000 to put toward your down payment. The loan is interest free and must be repaid within 10 years.
First-Time Home Buyers Rebate. If you are buying a newly constructed home or condo, you may be eligible for a rebate worth 18.75% of the provincial portion of the HST you’re charged. The maximum rebate amount is $3,000.
Land transfer taxes in Nova Scotia
Municipalities in Nova Scotia each have their own transfer tax rates.
Where to get a mortgage in Nova Scotia
Even though Nova Scotia has a shortage of large cities, there are still many places to get a mortgage. In addition to Canada’s biggest banks, you can also find mortgages at:
Credit unions.
Monoline lenders, which only provide mortgages.
Alternative lenders, which often service borrowers with lower credit scores.
Private lenders, which can range from individuals to large nationwide companies.
Here are some examples of different mortgage providers in Nova Scotia.
Banks | Credit Unions |
|---|---|
RBC Royal Bank | Credit Union Atlantic |
Scotiabank | East Coast Credit Union |
TD Canada Trust | Teachers Plus Credit Union |
CIBC | iNova Credit Union |
BMO Bank of Montreal | Sydney Credit Union |
Mortgage Brokerages | Direct Lenders |
Centum | CMLS Financial |
Dominion Lending Centres | First National Financial |
Mortgage Architects | MCAP |
TMG The Mortgage Group | nesto |
Verico Financial Group | Home Trust Company |
You're 5 minutes away from the best mortgage.
Connect with Homewise to get a renewal rate quote that's personalized to you.Frequently asked questions
What’s today’s mortgage rate in Nova Scotia?
There’s no single mortgage rate in Nova Scotia. Rates differ based on the lender, rate type and term length. For example, variable mortgage rates in Nova Scotia currently start around 3.4% while fixed rates are generally 4% or higher.
What’s a good mortgage rate in Nova Scotia right now?
As of September 2026, the lowest fixed mortgage rates in Nova Scotia are around 4%. The lowest variable rates are closer to 3.4%.
Are mortgage rates in Nova Scotia different than in New Brunswick or PEI?
National lenders and mortgage brokers tend to offer similar rates to home buyers in these provinces, though rates might be a little lower in Halifax because its higher population creates a more competitive mortgage market.
How are mortgage rates determined in Nova Scotia?
Mortgage rates are influenced by economic factors, like the Bank of Canada’s overnight rate (variable rates) and government bond yields (fixed rates). The rate you’re ultimately offered will depend on your savings, income, debt and credit score.
What’s the minimum down payment for a house in Nova Scotia?
Minimum down payment rules are the same in every province. To get a mortgage in Nova Scotia, you’ll have to put at least 5% down on a home worth up to $500,000. If the home is worth between $500,000 and $1.5 million, you’ll need to put down 5% of the first $500,000 and 10% of the remaining amount. For homes worth more than $1.5 million, a 20% down payment is required.
How can I get a lower mortgage rate in Nova Scotia?
Getting a lower mortgage rate generally means presenting yourself as a low-risk borrower to Nova Scotia’s lenders and brokers. You can do this by making a larger down payment, lowering your debt service ratios and paying off other debts.
Mortgage calculators to help you take the next step
DIVE EVEN DEEPER
Clay Jarvis
Clay Jarvis