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% | 4.76% | 4.74% | 4.78% | 5.95% | 4.725% |
3-Year Variable | 7.78% (open) | 4.07% | -- | -- | 5.95% | -- |
5-Year Fixed | 4.76% (insured) 4.86% (uninsured) | 4.61% (insured) 4.94% (uninsured) | 4.73% (insured) 4.88% (uninsured) | 4.62% (insured) 4.92% (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% | 4.311% |
Rates in bold are discounted, annual percentage rates (APR), which include additional fees.
New Brunswick mortgage rate update: July 2026
At the beginning of July, it seemed as if it was going to be a good month for mortgage shoppers in New Brunswick. Fixed rates had eased as the war in Iran inched toward a peaceful conclusion.
Well, that’s all out the window. Now that bombs are once again falling in and around Iran, government bond yields are on the rise. This matters because lenders use yields to price their fixed mortgage rates.
The risk — an all too familiar one at this point — is that yields increase to the point that lenders are forced to raise their fixed mortgage rates. If you’re eyeing a fixed rate for an upcoming home purchase, get pre-approved pronto to hedge against this frustrating risk.
Variable mortgage rates in New Brunswick, on the other hand, are a model of stability.
After the Bank of Canada announced it was holding its overnight rate at 2.25% on July 15, variable rates will continue hovering around their current levels until at least September 2, when the Bank will hand down its next overnight rate decision.
New Brunswick housing market update
New Brunswick’s housing market saw moderate cooling in June 2026. Home sales fell 6.1% compared to May, and dipped 4.9% year-over-year. Year-to-date, home sales in the province are tracking roughly 7.3% behind the first six months of 2025.
Home values in New Brunswick’s urban centers experienced monthly declines. Moncton’s benchmark price fell 4.5% to $381,300, while Saint John's benchmark fell 2.0% to sit at $354,300.
State of the market: Transitioning; a slowdown in transactions is easing price pressures.
Land transfer taxes in New Brunswick
New Brunswick charges a 1% rate of the home's value in many cases.
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.
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.
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 |
2026 mortgage 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 July 2026, fixed mortgage rates are considerably higher than they were a few months ago thanks 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 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.
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Connect with Homewise to get a renewal rate quote that's personalized to you.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 July 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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Clay Jarvis
Clay Jarvis