Current Mortgage Rates in New Brunswick
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New Brunswick mortgage rates available from a broker
Bank mortgage rates available in New Brunswick
3-Year Fixed | 4.67% | 4.66% | 4.59% | 4.63% | 5.95% | 4.624% |
3-Year Variable | 7.78% (open) | 4.07% | -- | -- | 5.95% | -- |
5-Year Fixed | 4.76% (insured) 4.86% (uninsured) | 4.51% (insured) 4.86% (uninsured) | 4.43% (insured) 4.68% (uninsured) | 4.62% (insured) 4.72% (uninsured) | 6.09% | 4.861% (insured) 4.861% (uninsured) |
5-Year Variable | 4.12% | 4.12% | 4.14% | 3.68% (insured) 3.98% (uninsured) | 4.90% | 4.261% |
Rates in bold are discounted, annual percentage rates (APR), which include additional fees.
New Brunswick mortgage rate update: May 2026
In May, the mortgage market in New Brunswick will be the tale of two rate types.
Variable mortgage rates should remain relatively affordable after the Bank of Canada held its overnight rate at 2.25% on April 29, 2026. Since the overnight rate directly affects variable rates, they’ll stay at their current levels until the Bank announces either a hike or cut.
The Bank’s next rate announcement is scheduled for June 10. A rate hike could be in store if inflation ramps up and seems lasting. That makes choosing a variable rate somewhat risky, but it would still take multiple rate hikes for variables to become as high as today’s best fixed rates.
Fixed mortgage rates are where the real uncertainty lies.
Government bond yields remain elevated due to the Iran war’s impact on oil prices and inflation. This matters because lenders use yields to price their fixed rates.
The war could shift from stalemate to active conflict at any minute. If hostilities further damage energy infrastructure or destabilize the global supply chain, yields could spike and take fixed rates with them.
All of this adds up to a queasy situation for home buyers in New Brunswick. In times like these, it’s imperative to speak to a mortgage professional (or two) to weigh all of your options.
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 if inflation's about to spike.
Fixed rates
As of May 2026, fixed mortgage rates have already risen considerably due to rapid increases in government bond yields. (Lenders use bond yields to price their fixed rates.) Yields skyrocketed after the war in Iran caused oil prices to spike, raising fears of inflation and future Bank of Canada rate increases.
Predicting where fixed rates head in the coming months depends heavily on the war in Iran. If it wraps up without further damage being done 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.
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.
How to get a lower mortgage rate in New Brunswick
While some factors that affect rates are beyond your control, there are things you can do to encourage New Brunswick’s lenders and brokers to offer you the best mortgage rates. For example, you can:
Improve your credit score. To start, pay down any outstanding debt and pay off every bill in full.
Increase your income. This isn’t always easy, but any additional income will improve your financial position.
Decrease your total debts. Lenders consider your total debt load when determining the details of your loan.
Consider all your options. See if adjusting the loan type, the term length or the amortization period of your loan could help.
Frequently asked questions
What’s today’s mortgage rate in New Brunswick?
There’s no single mortgage rate in New Brunswick. Rates differ based on the lender, rate type and term length. For example, variable mortgage rates in New Brunswick are generally around 3.5% at mortgage brokers but well over 4% at major banks.
What’s a good mortgage rate in New Brunswick right now?
As of May 2026, the lowest fixed mortgage rates in New Brunswick are around 4%. The lowest variable rates are closer to 3.4%.
Are mortgage rates in New Brunswick different than in Nova Scotia or Newfoundland?
National lenders and mortgage brokers tend to offer similar rates to home buyers in these provinces.
How are mortgage rates determined in New Brunswick?
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 New Brunswick?
Minimum down payment rules are the same in every province. To get a mortgage in New Brunswick, 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 New Brunswick?
Getting a lower mortgage rate generally means presenting yourself as a low-risk borrower to New Brunswick’s lenders and brokers. You can do this by making a larger down payment, lowering your debt service ratios and paying off other debts.
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Connect with Homewise to get a renewal rate quote that's personalized to you.Where to get a mortgage in New Brunswick
Even though New Brunswick has a modest population, 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 New Brunswick.
Banks | Credit Unions |
|---|---|
RBC | UNI Financial Cooperation |
BMO | Omista Credit Union |
Scotiabank | Brunswick Credit Union |
CIBC | Beaubear Credit Union |
TD Canada Trust | Blackville Credit Union |
Mortgage Brokerages | Direct Lenders |
Premiere Mortgage Centre | First National Financial |
Dominion Lending Centres | MCAP |
Mortgage Alliance | CMLS Financial |
TMG The Mortgage Group | nesto |
Mortgage Intelligence | Home Trust Company |
Buying a home in New Brunswick
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.
New Brunswick housing market update
April 2026 was another down month for the New Brunswick housing market. Home sales dipped 1.5% from March and were down a substantial 13% year-over-year. Year-to-date, sales were 6% lower than in the first four months of 2026.
Buyers entering the market this month should have plenty of choice. At the end of April, there were 3,.346 homes for sale in the province, the highest level for the month in over five years.
Home prices remain steady. The provincial benchmark price in April, $324,400, was 1.3% higher than a year ago, driven entirely by increased detached home prices: townhouses and condos both saw year-over-year declines.
Mortgage calculators to help you take the next step
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Clay Jarvis
Clay Jarvis