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The Best Mortgage Rates in Halifax

You'll find the best mortgage rates in Halifax on RateSupermarket.ca below.
We compare over 500 mortgage rates in one search from the top lenders including the big banks, credit unions, specialty lenders and different mortgage brokers. You can be sure you're getting the best mortgage rates and saving money.

Best Mortgage Rates Halifax

Best Variable Closed Mortgage Rates

Company Rate Term Offers & details Get details
3.00% 5 Years Get Rate

Rates updated February 3, 2012 09:30:38

Best Variable Open Mortgage Rates

Company Rate Term Offers & details Get details
4.00% 3 Years Get Rate
4.00% 5 Years Get Rate

Rates updated February 3, 2012 09:30:38

Best Fixed Closed Mortgage Rates

Company Rate Term Offers & details Get details
4.40% 6 Month Get Rate
2.74% 1 Year Rates may vary Province to Province. Rates subject to change without notice. *O.A.C E&O.E Get Rate
2.69% 2 Years Get Rate
2.89% 3 Years Rates may vary Province to Province. Rates subject to change without notice. *O.A.C E&O.E Get Rate
2.99% 4 Years Rates may vary Province to Province. Rates subject to change without notice. *O.A.C E&O.E Get Rate
3.19% 5 Years Get Rate
5.79% 6 Years Get Rate
3.84% 7 Years Get Rate
6.55% 8 Years Get Rate
6.55% 9 Years Get Rate
3.84% 10 Years Get Rate

Rates updated February 3, 2012 09:30:38

Best Fixed Open Mortgage Rates

Company Rate Term Offers & details Get details
6.20% 6 Month Get Rate
6.30% 1 Year Get Rate

Rates updated February 3, 2012 09:30:38

More About Halifax

  • Population: 398,000 (Stats Canada 2009)
  • A 1.7% increase is expected in economic growth in both 2010 and 2011.
  • Economic growth will be a result of energy-related investments.
  • Employment rate remains high due to strong in-migration and steady consumer spending.

Halifax Mortgage Rates Will Slowly increase in 2010.

The CMHC best case scenario, expect mortgage rates will continue to slowly increase in 2010 with a one year mortgage rate to be in the 3.6 to 4.8% range and the three and five year mortgage rates to be in the 4.2 to 6.7% range. In 2011, CMHC forecasts that the one year mortgage rate will be in the range of 5.0 to 6.0% whereas, the three and five year mortgage rate will be in the range of 5.6 to 7.2%. However, if the economy recovers at a faster rate than expected, mortgage rates may increase at a more rapid rate.

Halifax 2010 Housing Outlook

The Halifax housing market will be strong in 2010, according to CMHC. This strength is due to higher wages, strong employment levels and new migrants to the city.

A 22% increase is expected in 2010 for new home construction. Single starts are forecast to increase 14% with 1,000 units and a further 5% with 1,050 units in 2011. Whereas, multiple starts are expected to increase 30% with 850 units in 2010 and another 10% with 950 units in 2011. New home prices are expected to modestly increase in 2010 and 2011.

A 6% increase is expected in MLS sales in 2010 and a further 2.4% increase in 2011. This increase is a result of low mortgage rates and the people taking advantage of the market conditions. The average home prices will also increase. In 2010, the price is expected to reach $243,500 and $250,000 in 2011. This increase is after two years of having a decline in MLS sales. Sales are expected to higher than 6,000 in 2010 and higher than 6,300 in 2011.

CMHC Halifax housing market & Halifax mortgage rate forecast

Census Metropolitan Area Total Housing
Starts
MLS sales MLS average
price
Mortgage rates
(1 year)
Mortgage rates
(5 year)
2009 1,733 5,862 $237,214 - -
2010 (F) 2,120 6,200 $243,500 3.60-4.80% 4.20-6.70%
2011 (F) 2,280 6,350 $250,000 5.00-6.00% 5.60-7.20%

Source = CMHC
MLS = Multiple Listings Service
*Last updated January 2010.