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Current Mortgage Rates In New Brunswick

Fixed rates in the province are around 3.9%, while variable rates can be found for around 3.7%.
Current Mortgage Rates In New Brunswick
Oct 15, 2025
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New Brunswick mortgage rates available from a broker

Currently showing: fixed & variable rate mortgages in New Brunswick for 1, 2, 3, 4, 5 year terms
Eight Twelve Mortgage Disclaimer: The rates displayed do not include any taxes, fees, insurance, or other additional charges. These rates are estimates and are not guaranteed. The actual rate and loan terms you receive will depend on our partner’s assessment of your creditworthiness, loan amounts, and other relevant factors. Please note that any potential savings figures provided are estimates based on the information you and our advertising partners have provided. Terms and conditions apply. Mortgage Brokerage licensed in ON #13072, AB #2122265990, BC #X300983, MB #RW-2011175, NL #88786, NB #210042526, NS #2023-3000270, PEI #755902715, QC #606914, SK #508695, YT #839770

Bank mortgage rates available in New Brunswick

BMO

CIBC

National Bank

RBC

Scotiabank

TD

3-Year Fixed

4.57%

4.41%

4.54%

4.43%

6.05%

4.524%

3-Year Variable

8.03% (open)

4.42%

--

--

6.10%

--

5-Year Fixed

4.51% (insured) 4.66% (uninsured)

4.21% (insured)

4.56% (uninsured)

4.43% (insured) 4.63% (uninsured)

4.32% (insured) 4.62% (uninsured)

6.09%

4.661% (insured) 4.661% (uninsured)

5-Year Variable

4.42%

4.52%

4.64%

3.93% (insured) 4.23% (uninsured)

5.15%

4.561%

Rates in bold are discounted, annual percentage rates (APR), which include additional fees.

New Brunswick mortgage rate update: October 2025

Profile photo of Clay Jarvis
Written by Clay Jarvis
Lead Writer & Spokesperson
Profile photo of Clay Jarvis
Written by Clay Jarvis
Lead Writer & Spokesperson

October should be a month of stability for mortgage rates in New Brunswick.

Variable mortgage rates will stay at their current levels until at least October 29, when the Bank of Canada is scheduled to announce its next overnight rate decision. A rate cut from the Bank will result in a similar decrease in variable rates. (After the Bank reduced the overnight rate from 2.75% to 2.5% on September 17, variable rates dipped by as much as 30 basis points at some lenders.)

Expect variable rates to hover around 4% for most of October, though some brokerages and direct lenders are offering variables for considerably less.

Fixed mortgage rates might also be static this month. Government bond yields, which fixed mortgage rates tend to follow, have somewhat flattened out after falling for much of September. If yields avoid any dramatic shifts, fixed rates will, too.

Fixed rates may not dip this month, but they’re still fairly approachable. Brokers are offering three- and five-year fixed rates for less than 3.9%, but they’re still well over 4% at Canada’s biggest banks.

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.

2025 New Brunswick mortgage rate forecast

If the Bank of Canada lowers its overnight rate before the end of 2025, variable mortgage rates will also decrease. Fixed mortgage rates will likely continue hovering between 3.75% and 4.25% for much of the year.

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


There’s no single mortgage rate in New Brunswick. Rates differ based on the lender, rate type and term length. For example, fixed mortgage rates in New Brunswick are currently around 3.9% at mortgage brokers but well over 4% at major banks.

As of October 2025, the lowest fixed mortgage rates in New Brunswick are around 3.9%. The lowest variable rate is 3.7%.

National lenders and mortgage brokers tend to offer similar rates to home buyers in these provinces.

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.

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.

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.

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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Getting a mortgage in New Brunswick

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

Steps to getting a mortgage in New Brunswick

Getting a mortgage in New Brunswick isn’t any different than getting one in any other province. The real differences are often at the lender level, where you might encounter different mortgage rates and lending guidelines.

Getting a mortgage in New Brunswick generally involves the following steps:

  1. Checking your credit score. If your credit score’s below 620, it might limit the lenders you’re able to borrow from. If it’s relatively low in general, this might be an opportunity to pay down some debt prior to applying for a mortgage. 

  2. Comparing mortgage rates. View rates from multiple sources — banks, credit unions and mortgage brokers — to help determine who you’d like to work with.

  3. Getting pre-approved for a mortgage. Reach out to a lender and have them take a thorough look at your finances. Once this process is complete, you’ll have an accurate estimate of what you’ll be able to borrow and how much you’ll pay in interest charges.

  4. Finding a home and putting in a successful offer. This isn’t something you can do safely without being pre-approved first. 

  5. Formally applying for a mortgage. Even though you’ve been pre-approved, your lender will need to give your finances a final evaluation before signing off on your loan.

Mistakes to avoid when getting a mortgage in New Brunswick

  • Choosing a mortgage based solely on rate. The lowest rate available might be attached to a mortgage with limited features. Discuss the details with your lender or mortgage broker. 

  • Not comparing a variety of lenders. There are a lot of mortgage providers in New Brunswick. Make sure you’re comparing banks, brokers and credit unions so you don’t miss out on what might be the ideal mortgage for your needs. 

  • Not negotiating. Mortgage rates are negotiable. Always ask a lender or broker what more they can do to decrease the rate you’re offered.

  • Borrowing too much. Borrowing the maximum amount allowed by your lender can help you buy more house, but it can mean less money for essentials, savings and investments. 

Renewing a mortgage in New Brunswick

Renewing a mortgage in New Brunswick generally involves the same process you’ll encounter in the rest of Canada. But being in a less populous province might give you fewer lender options.

You should approach your mortgage renewal the same way you’d approach a home purchase: compare your mortgage rate options thoroughly so you can make an informed decision.

When renewing your mortgage in New Brunswick, keep the following in mind:

  • Your lender’s initial renewal rate offer won’t be their best. Be prepared to negotiate.

  • Consider using a mortgage broker, who can compare renewal rates from a wider range of lenders than a bank’s mortgage adviser. 

  • Start the process early and give yourself time to find the product and lender that best suits your current financial situation. 

Refinancing a mortgage in New Brunswick

Refinancing a mortgage in New Brunswick shouldn’t be any more difficult than it would be anywhere else. The rates you’ll encounter will be similar to those in other provinces, although refinance rates are generally higher than what lenders offer on home purchases.

Prepare yourself for refinancing your mortgage by exploring our mortgage refinancing guide and by comparing current mortgage finance rates.

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

$4,475.00Estimated land transfer tax

New Brunswick charges a 1% rate of the home's value in many cases.

    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.

    Mortgage calculators to help you take the next step