Balanced Market
Mortgage Rates in Manitoba
Manitoba offers some of Canada's most affordable housing with Winnipeg averaging under $350K. The province has a stable economy anchored by agriculture, manufacturing, and government employment.
Avg Home Price
$340,000
Benchmark Price
$325,000
Year-Over-Year
↑ 2.1%
Best 5-Yr Fixed
4.89%
Today's Best Rates in MB
| Rate Type | Best Rate |
|---|---|
| 5-Year Fixed | 4.89% |
| 5-Year Variable | 5.45% |
| 3-Year Fixed | 4.74% |
| 2-Year Fixed | 5.1% |
| HELOC | 6.2% |
*Based on $500K mortgage, 25-year amortization, Canadian semi-annual compounding. Last updated: May 25, 2026.
Land Transfer Tax in Manitoba
Manitoba Land Transfer Tax rebate up to $4,500
First-Time Buyer Programs in Manitoba
- First Home Savings Account (FHSA)
- Manitoba Land Transfer Tax Rebate
- CMHC Mortgage Insurance
- Home Buyers Plan (RRSP)
Mortgage Rates by City in Manitoba
Frequently Asked Questions
What is the average home price in Manitoba?
The average home price in Manitoba is approximately $340,000, making it one of Canada's most affordable provinces. Winnipeg averages around $355,000.
Is there a land transfer tax in Manitoba?
Yes, Manitoba charges a land transfer tax. First-time buyers can receive a rebate of up to $4,500 on their first home purchase.
What is the average mortgage rate in Manitoba?
The best 5-year fixed mortgage rate in Manitoba is currently around 4.89%, consistent with national rates.
Is Winnipeg a good place to buy real estate?
Winnipeg offers strong affordability with stable appreciation. The city's diverse economy and low unemployment make it a solid long-term real estate market.
What programs help first-time buyers in Manitoba?
Manitoba first-time buyers can access the LTT rebate up to $4,500, the federal FHSA, Home Buyers Plan, and CMHC insured mortgages.
How do mortgage brokers work in Manitoba?
Manitoba mortgage brokers are regulated under The Mortgage Brokers Act and can access rates from multiple lenders. Their service is free to borrowers.
What is the stress test in Manitoba?
The federal mortgage stress test applies in Manitoba. You must qualify at your contract rate plus 2% or 5.25%, whichever is higher.
Is Manitoba real estate a good investment?
Manitoba's affordability and steady population growth make it attractive for investors, particularly in Winnipeg's rental market which has seen tightening vacancy rates.
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