Yukon Mortgage Rates
 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 Financial4.39% 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 a payment.Very good annual pre-payment. Best rate from First National 3.70%5 yearvariable $3,963monthly payment Other rates from First National4.34% 3 year fixed $4,238 per month 4.54% 5 year fixed $4,325 per month 4.69% 2 year fixed $4,392 per month 4.89% 4 year fixed $4,481 per month 5.14% 1 year fixed $4,594 per month |
Yukon mortgage rate update: August 2026
The immediate future of mortgage rates in the Yukon 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 the Yukon 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.
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.
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 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?
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 2026?
The Bank of Canada may be forced to increase its overnight lending rate if the Iran war fuels higher inflation. A rate hike would result in higher variable mortgage rates. Fixed mortgage rates will likely continue hovering between 3.9% and 4.4% for much of the year. The war in Iran makes predictions like these exceedingly difficult.
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?
As of August 2026, fixed rates south of 4% and variable rates below 3.5% would be considered good deals in the Yukon.
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Clay Jarvis
Clay Jarvis