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 Neo Financial 3.85%5 yearvariable $4,027monthly payment Other rates from Neo Financial4.69% 5 year fixed $4,392 per month 4.79% 3 year fixed $4,436 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 |
 Lender highlights Strong mortgage features.Very good monthly pre-payment.Skip payment not available.Very good annual pre-payment. Best rate from Pine Financial 3.85%5 yearvariable $4,027monthly payment Other rates from Pine Financial4.54% 4 year fixed $4,325 per month 4.59% 3 year fixed $4,347 per month 4.64% 5 year fixed $4,370 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 3.85%5 yearvariable $4,027monthly payment Other rates from Radius Financial4.69% 5 year fixed $4,392 per month 4.79% 3 year fixed $4,436 per month 4.89% 4 year fixed $4,481 per month 5.09% 2 year fixed $4,571 per month 5.19% 1 year fixed $4,617 per month |
 Lender highlights Strong mortgage features.Very good monthly pre-payment.Skip a payment.Very good annual pre-payment. Best rate from RMG 3.85%5 yearvariable $4,027monthly payment Other rates from RMG4.00% 5 year variable $4,091 per month 4.69% 4 year fixed $4,392 per month 4.69% 5 year fixed $4,392 per month 4.79% 3 year fixed $4,436 per month 4.89% 5 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 3.95%5 yearvariable $4,069monthly payment Other rates from Scotia Bank3.95% 5 year variable $4,069 per month 4.59% 2 year fixed $4,347 per month 4.74% 3 year fixed $4,414 per month 4.79% 1 year fixed $4,436 per month 4.94% 4 year fixed $4,504 per month 4.99% 5 year fixed $4,526 per month |
Bank mortgage rates available in Saskatchewan
3-Year Fixed | 3-Year Variable | 5-Year Fixed | 5-Year Variable | |
|---|---|---|---|---|
4.97% | 8.03% (open) | 5.01% (insured) 5.16% (uninsured) | 4.37% | |
5.11% | 4.42% | 5.01% (insured) 5.36% (uninsured) | 4.47% | |
4.99% | -- | 4.73% (insured) 5.18% (uninsured) | 4.39% | |
5.03% | -- | 4.87% (insured) 5.17% (uninsured) | 4.13% (insured) 4.43% (uninsured) | |
6.05% | 6.10% | 6.19% | 5.15% | |
5.28% | -- | 5.41% (insured) 5.41% (uninsured) | 4.56% |
Rates in bold are discounted, annual percentage rates (APR), which include additional fees.
Saskatchewan mortgage rate update: October 2026
October could be a miserable month for mortgages in Saskatchewan
Fixed rates spent the last two weeks of September rising in response to spiking government bond yields. While home buyers may have been able to find a fixed rate for around 3.9% last month, they’ll be lucky to find one for under 4.2% in October.
Expect those higher fixed rates to throw a bucket of cold water on the Saskatchewan housing market this fall.
Variable rates will continue providing an affordable alternative, but the gap between fixed and variable rates may shrink as soon as October 28, when the Bank of Canada will hand down its next overnight rate decision.
Analysts are split on whether the Bank might finally raise the overnight rate after more than a year. If it does, variable rates will increase by the same amount as the Bank’s rate hike.
NerdWallet’s take is that the Bank will continue holding, as a rate increase could weaken economic growth. But the prospect of future rate hikes might be too much risk for some home buyers.
Saskatchewan housing market update
A lack of supply didn't prevent the Saskatchewan housing market from notching a healthy monthly gain in August 2026. Residential sales jumped 5.0% from July but were down 2.4% year-over-year. Year-to-date, home sales are 5.7% behind the first eight months of 2025.
Home values continued to inch up. The provincial benchmark price, $376,400, rose 0.2% monthly and 3.2% year-over-year. Regina's benchmark price climbed 0.5% monthly and 3.3% year-over-year to reach $345,200. Saskatoon's benchmark edged up 0.2% from July and 2.6% year-over-year to hit $439,200.
State of the market: Tight and very seller-friendly. Buyers, however, are faced with a dearth of supply and the very real risk of entering a bidding war.
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 October 2026, fixed mortgage rates are higher than they've been in almost a year 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 4.2%.
What’s a good mortgage rate in Saskatchewan right now?
As of October 2026, the lowest fixed mortgage rates in Saskatchewan are around 4.2%. 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 higher in Saskatchewan because its lower population creates a less 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?
Based on recent sales figures, the typical home in Saskatchewan would cost you around $376,000. According to Canada's down payment rules, your minimum down payment would be 5%, or $18,800.
How can I get a lower mortgage rate in Saskatchewan?
Getting a lower mortgage rate in Saskatchewan might require making a larger down payment, lowering your debt service ratios and paying off other debts. Purchasing in a city rather than a remote rural location might lower your rate, too.
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Clay Jarvis
Clay Jarvis