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Rates Updated June 19, 2013 09:31:14
Best Closed Mortgage Rates
| Best Fixed Rates | Best Variable Rates | |||||
|---|---|---|---|---|---|---|
| 6 Mo |
|
4.00%
|
||||
| 1 Year |
|
2.54%
|
|
2.80%
|
||
| 2 Years |
|
2.49%
|
||||
| 3 Years |
|
2.59%
|
|
3.20%
|
||
| 4 Years |
|
2.74%
|
||||
| 5 Years |
|
2.99%
|
|
3.00%
|
||
| 6 Years |
|
5.79%
|
||||
| 7 Years |
|
3.40%
|
||||
| 8 Years |
|
6.55%
|
||||
| 9 Years |
|
6.55%
|
||||
| 10 Years |
|
3.64%
|
||||
| 25 Years |
|
8.75%
|
||||
Best HELOC Mortgage Rates
| HELOC |
|
3.50%
|
Best Open Mortgage Rates
| Best Fixed Rates | Best Variable Rates | |||||
|---|---|---|---|---|---|---|
| 6 Mo |
|
6.20%
|
||||
| 1 Year |
|
4.00%
|
||||
| 3 Years |
|
3.80%
|
||||
| 5 Years |
|
3.50%
|
||||
More About New Brunswick
New Brunswick Housing and Mortgage Overview
New Brunswick is predicted to experience only modest growth in 2012 as overall economic performance is expected to remain below the 10-year average for the province. This is due to declining employment levels with 0.5 per cent employment growth anticipated for 2012, and will do little to improve the outlook for the next two years. GDP growth of 1 per cent is forecasted for 2012, and 1.1 per cent in 2013. New Brunswick's economy is dependent on the public service, education and port industries. Its manufacturing sector is impacted by the high Canadian dollar and increasing energy prices. The province's rural primary economy is best known for mining, farming, forestry and fishing.
The new construction market has seen some growth with total housing starts increasing by 12 per cent during the first part of 2012, but weak employment levels and slow wage growth are expected to dampen the overall housing market. In the existing home market, resales have slowed to 1,375 in 2012, down -9.6 per cent from 1521 in 2011.
Source: CMHC
New Brunswick Key Stats
Source: Stats Canada
|
Metric |
New Brunswick |
Canada |
|
| Population (2011) | 755,500 | 34,482,800 | |
| Consumer Price Index (2011) (2002=100) |
120.0 | 119.9 | |
| Average Earnings (2011) (Per Week, $) |
$788.79 | $874.76 | |
| Unemployment Rate (2012) (SA, %) |
9.5% | 7.2% | |
| Housing Starts (2011) | 3,452 | 193,950 | |
| Average Residential Resale Price (annual % change) |
2011(A*) | $160,545 2.1% |
$339,042% 5.8% |
| 2012 (F) | $162,000 0.9% |
$348,900* 2.9% |
|
| 2013(F) | $164,000 1.2% |
$358,200* 2.7% |
|
| Mortgages Approved by Lenders, residential 2010 (thousands of dollars) |
Chartered banks | $22,236 | $932,617 |
| Other | $8,629 | $291,486 | |
| Total | $30,865 | $1,244-103 | |
| 2011 A = stated by the CMHC 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 |
|||
Local Market Indicators
|
Census Metropolitan Area |
Total Housing Starts |
MLS Sales |
MLS Average Price |
|
| Moncton | 2011 | 1,194 | 2,467 | $158,561 |
| 2012(F) | 1,050 | 2,400 | $160,500 | |
| 2013(F) | 1,000 | 2,325 | $164,000 | |
| Saint John | 2011 | 361 | 1,572 | $170,354 |
| 2012(F) | 360 | 1,525 | $170,000 | |
| 2013(F) | 320 | 1,500 | $172,500 | |
| Sources: CMHC, Canadian Real Estate Association, Local Real Estate Boards, Statistics Canada MLS = Multiple Listings Service * Last updated July 2012 |
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Rate and product information are subject to change at any time and does not constitute financial advice. Please contact supplier for complete details.