Best mortgage rates - Nova Scotia

RateSupermarket.ca, enables prospective property purchasers in Nova Scotia to search and compare the best mortgage rates in Nova Scotia from Canada's top mortgage lenders and brokers - all in one easy search. We are the only Canadian site to compare rates from Nova Scotia's mortgage brokers, banks, credit unions, trusts and mortgage companies.

Home mortgage loan shoppers anywhere from Halifax, Sydney to Dartmouth can use RateSupermarket.ca to find the latest mortgage rates on offer.

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	2.60%		Full Feature Mortgage. Free Appraisals! 20%/20% Pre Payments.
	3 Years	2.10%		Full Service Mortgage. 20%/20% Pre Payment privileges.
	5 Years	2.00%		25%/25% Pre Payment Privileges. Full Service Mortgage. Free Appraisals!

mortgage rates updated: September 9, 2010 02:30:32

Best variable open mortgage rates

Rate type	Rate term	Mortgage rate	Company	Offers & details	Get details
Variable open Search all	3 Years	3.75%
	5 Years	3.50%		Plus $750 cash back

Mortgage rates updated: September 9, 2010 02:30:32

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	2.44%
	2 years	3.25%
	3 years	3.34%		60 Day Ratehold. Pre Approvals OK. Free Appraisals!
	4 years	3.59%
	5 years	3.69%		Full Service Mortgage. Free Appraisals!
	6 years	4.50%
	7 years	4.85%
	8 years	5.13%
	9 years	5.22%
	10 years	5.19%
	15 years	9.55%

Mortgage rates updated: September 9, 2010 02:30:32

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 9, 2010 02:30:32

Nova Scotia housing and mortgage overview

The economy of Nova Scotia is facing many challenges as industries and companies together struggle to remain profitable and competitive in a more global economy. The impact of higher energy prices and a strong Canadian Dollar on future economic growth and interest rates will need to be offset by more productivity and investment in machinery and equipment, especially in the manufacturing and resource sectors. The outlook remains positive though as a result of some growth in nonresidential investment activity and continued strength in the service sector portion of the economy as well as contributions to growth by consumers. The outlook is less uncertain than a few months ago as the recent announcement regarding Deep Panucke will add support to growth possibly by 2009. Uncertainty remains regarding a possible petrochemical and LNG plant as well as improvements to a deepwater container terminal which together could add some upside to the expected rate of provincial economic growth, especially in 2009. The continuing closure of a number of manufacturing facilities will fuel some migration of workers westward.

The focus for growth will be on Halifax as a result of a number of projects in the Halifax area including the ongoing expansion by RIM in Bedford and the arrival of a number of financial and service related call centres. Slowing employment and population growth as well as a slowing housing sector will constrain provincial economic growth. Economic prospects will improve as a result of ramping up from some of the energy related projects moving from the planning to the construction phase. Economic growth will remain within a fairly tight range; 2.1 per cent for 2008 and 2.3 per cent in 2009.

Resales: Existing home sales will continue to be a viable alternative to new construction. The value created from recent renovations and buyer preference for established neighbourhoods will boost demand for existing homes. Existing homes reached record sales levels in 2007, but 2008 will see a decrease to 11,100 MLS units, while 2009 will achieve 10,900.

Prices: The recent rapid rate of MLS sales price growth will decelerate in 2008 and 2009. Sales prices are still expected to rise faster than inflation; 4.4 per cent in 2008 and 2.6 per cent in 2009. The average price in 2008 is expected to be $190,000 while 2009 should see an average price of $195,000.

Nova Scotia key stats

Source: Stats Canada, Canadian Real Estate Association2007 E = estimated by the CMHC* Canada calculation excludes Yukon and Northwest TerritoriesData 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

Local Market Indicators

Sources: CMHC, Canadian Real Estate Association, Local Real Estate Boards, Statistics Canada
MLS = Multiple Listings Service