Best mortgage rates - Manitoba

RateSupermarket.ca is the place to search and compare for the best mortgage rates in Manitoba, and is the only Canadian site to compare rates from British Columbia's mortgage brokers, banks, credit unions, trusts and mortgage companies.

Home buyers who are looking to buy a property, house or apartment in Brandon or Winnipeg Manitoba, can use RateSupermarket.ca to find the latest up to date mortgage rates from both local and national mortgage lenders and brokers.

Best mortgage rates

You'll find the best mortgage rates on RateSupermarket.ca listed below by Rate type. Click on the "Get details" button to find out more, or you can compare mortgage rates now to find the best rate in your area.

Best variable closed mortgage rates

Rate type	Rate term	Mortgage rate	Company	Offers & details	Get details
Variable closed Search all	1 Year	2.35%		Full Feature Mortgage. Free Appraisals! 20%/20% Pre Payments.
	3 Years	1.95%
	5 Years	2.00%		25%/25% Pre Payment Privileges. Full Service Mortgage. Free Appraisals!

mortgage rates updated: September 2, 2010 09:30:34

Best variable open mortgage rates

Rate type	Rate term	Mortgage rate	Company	Offers & details	Get details
Variable open Search all	3 Years	3.50%
	5 Years	3.25%		Plus $750 cash back

Mortgage rates updated: September 2, 2010 09:30:34

Best fixed closed mortgage rates

Rate type	Rate term	Mortgage rate	Company	Offers & details	Get details
Fixed closed Search all	6 month	3.95%
	1 Year	2.28%		Plus $750 cashback
	2 years	2.99%		Plus $750 cash
	3 years	2.90%		Manitoba Residents Only
	4 years	3.59%
	5 years	3.64%		25% annual pre-payment
	6 years	4.50%
	7 years	4.65%		Manitoba Residents Only
	8 years	5.13%
	9 years	5.22%
	10 years	4.99%		Manitoba Residents Only
	15 years	9.55%

Mortgage rates updated: September 2, 2010 09:30:34

Best fixed open mortgage rates

Rate type	Rate term	Mortgage rate	Company	Offers & details	Get details
Fixed open Search all	6 month	6.30%
	1 Year	6.30%
	3 years	6.30%

Mortgage rates updated: September 2, 2010 09:30:34

Manitoba housing and mortgage overview

Manitoba house prices are forecasted to increase by 10% in 2008, these persistent price gains could limit choice for first-time and low equity buyers, resulting in another modest rise in sales next year.

Economic growth fuelled by capital investment and consumption

A stable economy will sustain elevated levels of new home construction in Manitoba. Provincial housing starts will eclipse historical averages during the next two years, reaching 5,800 units in 2008 and 5,900 units in 2009. Including last years activity, this will represent the best three-year performance for Manitoba builders in over 20 years.

Manitobas economy is forecast to expand by 2.9 per cent in 2008 and 2.6 per cent in 2009, marking the sixth year in succession the provincial economy grows by 2.5 per cent or more. Capital projects and domestic spending will be key drivers of growth over the forecast horizon. With net migration and job creation among historical highs, retailers will enjoy recurring gains in personal spending.

Accordingly, the unemployment rate will be maintained at near historical lows, averaging 4.3 per cent over the forecast period and will bolster consumer confidence. The low unemployment rate relative to other provinces is also resulting in fewer people leaving Manitoba in search of work.

The Resale market will be boosted by migration

Boosted by heightened levels of net migration, existing home sales will set a new high of 14,100 units in 2008. Despite some additional selection in late 2008 and into 2009, the strong growth in listings required to achieve significant sales gains will likely not materialize. In addition, persistent price gains could limit choice for first-time and low equity buyers, resulting in another modest rise in sales next year. At 14,250 units, 2009 will mark the eighth year in succession that a sales record was achieved.

Manitoba house prices increase by almost 10% to $185,500

In 2008, Manitobas resale market will experience another strong year of price growth, coming just short of the double digit gains that have been the norm for the last five years. Strong demand combined with a shortage of listings will push prices up 9.8 per cent this year, reaching an average of $185,500. In 2009, an increase in active listings will provide more choice for buyers and weaken the pace of price growth to below six per cent.

Manitoba key stats

Source: Stats Canada, Canadian Real Estate Association

2007 E = estimated by the CMHC

* Canada calculation excludes Yukon and Northwest Territories
Data based on application received date
Mortgage approval data are gross and may not fully capture lending activities of credit unions, caisses populaires, other smaller institutions and privately-insured loans in some areas
Quebec data is understated due to low response rate to the surveys in that province.
*Conventional Lending data only

MLS = Multiple Listings Service