Yukon Mortgage Rates
Yukon mortgage rate update: December 2025
December should be a month of stability for mortgage rates in the Yukon.
On December 10, the Bank of Canada will announce its next overnight rate decision, which could directly impact variable mortgage rates. With the Canadian economy showing signs of resilience, the Bank is widely expected to hold the overnight rate at 2.25%.
If the Bank holds, variable mortgage rates will stay at their current levels until at least January 28, 2026, when the Bank is scheduled to make its first rate decision of next year.
Until then, the lowest variable mortgage rates in the Yukon will hover around 3.75%.
Fixed mortgage rates aren’t likely to move much this month, either. Government bond yields, which determine fixed rates, haven’t shifted much in the last several weeks. Without a sustained rise or fall in bond yields, there’s no reason for lenders to significantly adjust their fixed rates.
Unless the bottom drops out of the economy, the lowest fixed rates in the Yukon should hover around 4% for the rest of the year.
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, released in September 2025, covered April through June 2025. During those months, the average sale price of a single-detached house in Whitehorse jumped 2.7% since the year before to $698,900. The average condo sale price was $501,500, an increase of 13.4%.
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 to help you take the next step
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?
If the Bank of Canada lowers its overnight rate before the end of 2025, variable mortgage rates will also decrease. Fixed mortgage rates will likely continue hovering between 3.75% and 4.25% well into 2026.
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.
What's a good mortgage rate in the Yukon right now?
What's a good mortgage rate in the Yukon right now?
As of December 2025, fixed rates south of 4% and variable rates below 3.75% would be considered a good deal in the Yukon.
8Twelve has partnered with over 65 Canadian mortgage lenders to provide competitive rates on over 7,000 mortgage products. 8Twelve can quickly match you with a lender and mortgage type that meets your needs — even if your financial situation is unique.
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Clay Jarvis
Clay Jarvis