New Brunswick Mortgage Rates
Calling all New Brunswick Home Buyers - save today with the best New Brunswick Mortgage Rate from RateSupermarket.ca!
The Best Mortgage Rates in New Brunswick
5 YearFixed Closed View All
|2.82% View Details »||2.69% View Details »||3.19% View Details »|
5 YearVariable Closed View All
|2.90% View Details »||2.75% View Details »||3.25% View Details »|
3 YearFixed Closed View All
|2.82% View Details »||2.89% View Details »||2.96% View Details »|
1 YearFixed Closed View All
|2.82% View Details »||2.99% View Details »||3.29% View Details »|
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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 760,000. 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
5 Things You Need To Know About Buying In New Brunswick
- The average home price in New Brunswick is roughly $155,000 – that's almost $250,000 cheaper than the national average!
- The housing market in New Brunswick has remained relatively flat through 2014, as unemployment rates remain well above the national average. Migration to the province is also low, contributing to the stagnant market
- Sluggish sales in recent years have meant little to no increase in home prices (and in some cases, decreases), which provides prospective home buyers an opportunity to lock in at low prices and low mortgage rates
- Inventory levels are very elevated, with about 12 months' worth of homes on the market
- Mortgage interest rates are expected to increase, as Canadian exports, investments, job growth and incomes improve. Once the economy is back to a comfortable, healthy place, we should see mortgage rates start to rise.
Frequently Asked Question: 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|
Buying Property in New Brunswick – Important Links
Thinking of buying a home in New Brunswick? Here are some important links to help you learn more about the province and get you started on your mortgage journey in New Brunswick:
Get New Brunswick regional housing statistics from the Canada Mortgage and Housing Corporation.
Ever wonder what everyday items will cost you in New Brunswick? You can compare the cost of living across Canada and around the world here.
Are you new to Canada? New Brunswick offers a number of resources available to immigrants, aimed at providing a solid foundation for new Canadians.
Health care varies from province to province. Find out all you need to know about the New Brunswick health care system and how to qualify for coverage here.
Get up to speed on provincial politics – learn more about the New Brunswick provincial government here.