Best Mortgage Rates in the Yukon
Compare customized mortgage rates from the Yukon's top lenders to find the best mortgage rate for your needs.
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Yukon mortgage rate update: August 2025
Variable rates are holding steady after the latest Bank of Canada interest rate decision.
Fixed rates are more likely to increase than decrease in August.
August could be a long month for the Yukon's mortgage shoppers.
On July 30, the Bank of Canada held its overnight rate at 2.75%. It was the Bank's third consecutive rate hold, and came as no surprise.
The rate hold means borrowers are stuck with today's variable mortgage rates until at least September 17, when the BoC is scheduled to make its next rate decision. Brokerages currently offer the lowest variable rates — around 4.1%. You might pay significantly more elsewhere.
At least variable rates are stable. Fixed mortgage rates could spend the rest of the summer inching up.
That's because government bond yields, which help determine lenders’ fixed rates, spent July on a steady upward trek. Yields tapered off somewhat toward the end of July, but they will begin August higher than they’ve been since January. When yields rise over an extended period of time, lenders often respond by increasing their fixed rates.
Fixed rates crept up here and there in the final days of July, but not to the extent that signals a wholesale shift. You can still find three- and five-year fixed rates advertised at around 4.1% at some mortgage brokerages.
Whether fixed rates rise further in the coming weeks is hard to predict, especially in the current economic climate. But it's a definite possibility. If you're considering getting a fixed-rate mortgage this summer, get pre-approved and lock in a rate as soon as possible.
What's a good mortgage rate in the Yukon right now?
As of August 2025, some lenders in the Yukon are offering five-year variable mortgage rates and three-year fixed mortgage rates for around 4.3%.
2025 Yukon mortgage rate forecast
Mortgage rates may decrease further in the second half of 2025.
The Bank of Canada is expected to reduce its overnight rate again twice before the end of the year, which would lower variable mortgage rates by at least 0.5% versus today’s levels.
Fixed mortgage rates will likely continue hovering between 3.75% and 4.25% for the remainder of 2025.
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.
Yukon housing market update
The Yukon Bureau of Statistics releases quarterly reports on real estate trends. The most recent report covered October through December 2024. During those months, the average sale price of a single-detached house in Whitehorse jumped 4.9% since the year before to $657,900. The average condo sold for $611,900.
Yukon home buyer resources
Yukon first-time home buyer programs
Yukon residents who are unable to get traditional financing can apply for the Yukon Home Ownership Loan Program when buying or building a primary home. You must have a down payment of at least 2.5%.
If approved, the program finances the loan, which you’ll repay at an interest rate equal to one percentage point below the prevailing average 5-year mortgage rate. Anyone — not just first-time buyers — may apply.
Yukon land transfer taxes
You'll pay a flat fee, which is based on your home's value, and an additional fee based on the change in value since your home was sold. The flat fee is:
- $50 for a home value of less than $100,000.
- $150 for home values between $100,000 and $500,000.
- $350 for home values between $500,000 and $3 million.
- $550 for home values between $3 million and $10 million.
- $750 for home values above $10 million.
Mortgage calculators
Frequently asked questions
How do lenders determine mortgage rates?
How do lenders determine mortgage rates?
The mortgage rate you’re offered will be based on two primary factors; one based on the state of the economy and one based on your financial situation.
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:
Your credit score.
Your income.
Your total debts.
The loan type you choose.
The amount you’re borrowing.
The term length and amortization period of your loan.
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.
Will mortgage rates come down in 2025?
Will mortgage rates come down in 2025?
The Bank of Canada overnight rate has been unchanged since March. If the bank lowers the rate, lower variable mortgage rates will follow.
How do you qualify for a lower mortgage rate?
How do you qualify for a lower mortgage rate?
While some factors that affect rates are beyond your control, there are things you can do to encourage lenders 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.
DIVE EVEN DEEPER
Clay Jarvis