Current Mortgage Rates in Saskatchewan
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Saskatchewan mortgage rates you can get 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 Saskatchewan
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.
Saskatchewan 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 Saskatchewan 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 Saskatchewan. If you have your sights set on a fixed-rate mortgage, consider getting pre-approved before rates start rising.
Saskatchewan housing market update
Saskatchewan's residential housing market hit a wall in July 2026, as low inventory throttled home sales. Residential sales fell 4.9% month-over-month and were down 11.1% compared to July 2025. Year-to-date, home sales in the province remain 6.1% behind the first seven months of 2025.
Home values held up despite the slower sales pace. On a monthly basis, the provincial benchmark price dipped 0.4% to $375,400, though it remains 3.7% higher than a year ago. Regina's benchmark fell 1.3% to $343,500 (+3.0% year-over-year), while Saskatoon's held nearly flat, down 0.1% to $438,600 (+3.7% year-over-year).
State of the market: Still tight as a drum. Saskatchewan remains one of the few sellers' markets in the country.
Saskatchewan first-time home buyer programs
There aren’t many provincial programs available to eligible first-time home buyers in Saskatchewan. Two of the only ones still available are:
The Mortgage Flexibilities Support Program, which allows homeowners earning income below certain thresholds to access new unis in designated housing projects in Saskatoon.
The First-Time Home Buyers’ Tax Credit, which provides a tax credit worth up to $1.050 to eligible taxpayers.
First-timers in Saskatchewan can also make use of federal programs like the Home Buyers’ Plan and the First Home Savings Account.
Land transfer taxes in Saskatchewan
In Saskatchewan, you're taxed on the value of your home and your mortgage amount. You'll pay a transfer fee equal to 0.4% of your property's value. You'll also pay a set fee based on your mortgage amount as follows:
- No fee for a transfer with a value up to $500
- $25 for a transfer with a value between $500.01 and $6,300
- 0.4% of a home's value for a transfer of $6,300.01 or more.
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 Saskatchewan
Even though Saskatchewan 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 Saskatchewan.
Banks | Credit Unions |
|---|---|
RBC | Conexus Credit Union |
CIBC | Affinity Credit Union |
Scotiabank | Innovation Credit Union |
TD Canada Trust | Cornerstone Credit Union |
BMO | Synergy Credit Union |
Mortgage Brokerages | Direct Lenders |
Centum | First National Financial |
Dominion Lending Centres | MCAP |
Mortgage Alliance | CMLS Financial |
TMG The Mortgage Group | nesto |
Xeva Mortgage | Home Trust Company |
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.
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Connect with Homewise to get a rate quote that's personalized to you.Frequently asked questions
What’s today’s mortgage rate in Saskatchewan?
There’s no single mortgage rate in Saskatchewan. Rates differ based on the lender, rate type and term length. For example, variable rates in Saskatchewan are currently start around 3.4% while fixed rates start around 4%.
What’s a good mortgage rate in Saskatchewan right now?
As of September 2026, the lowest fixed mortgage rates in Saskatchewan are around 4%. The lowest variable rates are closer to 3.5%.
Are mortgage rates in Saskatchewan different than in Alberta or Manitoba?
National lenders and mortgage brokers tend to offer similar rates to home buyers in these provinces, though rates might be a little lower in Alberta because its higher population creates a more competitive mortgage market.
How are mortgage rates determined in Saskatchewan?
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 Saskatchewan?
Minimum down payment rules are the same in every province. To get a mortgage in Saskatchewan, 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 Saskatchewan?
Getting a lower mortgage rate generally means presenting yourself as a low-risk borrower to Saskatchewan’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