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New Brunswick Mortgage Rates

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About New Brunswick

More About: Living In New Brunswick

New Brunswick is the largest (by area) of the three Maritime provinces, with a population of roughly 770,000. Here are some more quick facts about New Brunswick:

  • Fredericton is the capital city of New Brunswick, although Saint John is the most populous city
  • New Brunswick is the only province in Canada that is constitutionally bilingual – about one third of the population is French speaking
  • Up to 15 species of whales can be found in the Bay of Fundy. The Bay of Fundy also has the highest tides in the world – they rise at a rate of one metre per hour
  • Over 80 per cent of New Brunswick is forested, and over half the province is surrounded by water
  • The average home price in New Brunswick is roughly $175,000 – that's $225,000 cheaper than the national average!

FAQ: How does New Brunswick's unemployment rate affect the real estate market?

Unemployment rates are used as a measure of economic prosperity in a region. High unemployment rates (which New Brunswick has) generally signify a struggling economy, which never lends well to the housing market. Without employment and healthy incomes, demand for housing decreases and in turn, so do home prices. This means that sellers are selling their homes for less than they originally purchased, contributing to a stagnation in the market.

New Brunswick Housing Statistics

The New Brunswick housing market is not Canada's strongest, but there is a unique opportunity here for home buyers to lock in at low prices while mortgage rates are still low. New Brunswick is a beautiful province with plenty to offer – and for the right price.

Property Prices: Low Quality of Life Index: High
Cost of Living: High Traffic Index: Moderate
Your Top Mortgage Questions Answered

Whether you’re a First Time Home Buyer or buying your second, third or fourth home, it pays to compare mortgage rates with Ratesupermarket.ca.