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 Financial4.24% 3 year fixed $4,194 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 Financial4.24% 5 year fixed $4,194 per month 4.39% 3 year fixed $4,259 per month 4.54% 4 year fixed $4,325 per month 4.69% 2 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 Financial4.39% 5 year fixed $4,259 per month 4.44% 3 year fixed $4,281 per month 4.44% 4 year fixed $4,281 per month 4.64% 2 year fixed $4,370 per month 4.99% 1 year fixed $4,526 per month |
Bank mortgage rates available in Saskatchewan
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.
Saskatchewan mortgage rate update: August 2026
The immediate future of mortgage rates in Saskatchewan still hinges on the war in Iran.
The drawdown in hostilities seen in early August bodes well for home buyers waiting for fixed rates to decline. If the current situation holds, oil prices should drop further and take pressure off of government bond yields, which lenders use to price their fixed rates.
Yields still have a ways to fall before lenders feel comfortable slashing their fixed rate offers. If all goes well — fingers crossed — fixed rates could inch down by 10 basis points. But a lot has to go right before that happens.
Variable mortgage rates in Saskatchewan aren’t likely to see the same kind of volatility. The Bank of Canada, which directly influences variable rates through its overnight rate, isn’t scheduled to make its next rate decision until September 2.
Until then, variable rates will continue hovering at their current levels.
Saskatchewan housing market update
Saskatchewan’s housing market saw strong growth in June 2026. Home sales rose 6.8% compared to May, and were up 4.8% year-over-year. Year-to-date, overall home sales in the province are tracking roughly 1.2% behind the pace set in the first half of 2025.
Home values in Saskatchewan’s largest cities continue to hit record highs. Saskatoon’s benchmark price rose 0.8% month-over-month to $439,800, while Regina's benchmark managed a 1.5% monthly gain to sit at $348,200.
State of the market: Highly competitive and supply-starved; historically low inventory is putting immense pressure on active buyers.
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.
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.
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 August 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 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 around 3.4% at mortgage brokers but over 4% at most banks.
What’s a good mortgage rate in Saskatchewan right now?
As of August 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