BY PROVINCE :
Best Mortgage Rates Canada
Alberta
British Columbia
Manitoba
New Brunswick
Newfoundland and Labrador
Northwest Territories
Nova Scotia
Nunavut
Ontario
Prince Edward Island
Quebec
Saskatchewan
Yukon
By Rate Type:
BY CITY :
Brampton
Burlington
Calgary
Edmonton
Montreal
Halifax
Hamilton
Kitchener-Waterloo
London
Mississauga
Moncton
Oakville
Ottawa
Quebec City
Regina
Saint John
Surrey
Toronto
Vancouver
Victoria
Winnipeg
By Company Type :
Rates Updated May 22, 2013 09:30:48
Best Closed Mortgage Rates
| Best Fixed Rates | Best Variable Rates | |||||
|---|---|---|---|---|---|---|
| 6 Mo |
|
3.95%
|
||||
| 1 Year |
|
2.54%
|
|
2.80%
|
||
| 2 Years |
|
2.49%
|
||||
| 3 Years |
|
2.57%
|
|
3.20%
|
||
| 4 Years |
|
2.74%
|
||||
| 5 Years |
|
2.73%
|
|
2.60%
|
||
| 6 Years |
|
5.79%
|
||||
| 7 Years |
|
3.49%
|
||||
| 8 Years |
|
6.55%
|
||||
| 9 Years |
|
6.55%
|
||||
| 10 Years |
|
3.60%
|
||||
| 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 Nova Scotia
Nova Scotia Housing and Mortgage Overview
Nova Scotia has traditionally ranked below the national economic average, as the high Canadian dollar and higher energy costs impact the manufacturing industry. However, this will be offset somewhat by the announcement of the combat vessel shipbuilding contract in Halifax, which will contribute to job growth and have a lasting influence on economic growth. As a result of this job creation within the manufacturing and energy sectors, economic growth is anticipated to rise close to 2% in 2012 and 2.2% in 2013.
While the first quarter of 2012 saw a decline of 12% in the housing starts market, this trend is not anticipated to continue for the year with a total of 4,250 forecasted. However, total starts are expected to decrease to 4,175 in 2013, a -1.8% decline. Resale prices are predicted to rise to $ 262,000 in 2012, up from $ 251,581 in 2011, and higher still to $ 266,500 in 2013.
Source: CMHC
Nova Scotia Key Stats
Source: Stats Canada
|
Metric |
Nova Scotia |
Canada |
|
| Population (2011) | 945,400 | 34,482,800 | |
| Consumer Price Index (2011) (2002=100) |
122.7 | 119.9 | |
| Average Earnings (2011) (Per Week, $) |
%767.61 | $874.76 | |
| Unemployment Rate (2012) (SA, %) |
9.2% | 7.2% | |
| Housing Starts (2011) | 4,644 | 193,950 | |
| Average Residential Resale Price (annual % change) |
2011(A*) | $251,581 6.9 |
$339,042% 5.8% |
| 2012 (F) | $262,000 4.1% |
$348,900* 2.9% |
|
| 2013 (F) | $266,500 1.7% |
$358,200* 2.7% |
|
| Mortgages Approved by Lenders, residential 2010 (thousands of dollars) | Chartered banks | $30,213 | $932,617 |
| Other | $10,020 | $291,486 | |
| Total | $40,233 | $1,224,103 | |
| 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 |
|
| Halifax | 2011 | 2,954 | 5,939 | $259,060 |
| 2012(F) | 2,670 | 6,400 | $275,000 | |
| 2013 (F) | 2,510 | 6,500 | $285,000 | |
| Sources: CMHC, Canadian Real Estate Association, Local Real Estate Boards, Statistics Canada MLS = Multiple Listings Service * Last updated July 2012 |
||||
Rate and product information are subject to change at any time and does not constitute financial advice. Please contact supplier for complete details.