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

📅 Page updated: July 8, 2026·⚡ Rate data: May 25, 2026·Methodology

Rate Type	Best Rate	Monthly Payment*	Term
5-Year Fixed	4.89%	~$2,301/mo	5 Years
5-Year Variable	5.45%	~$2,430/mo	5 Years
3-Year Fixed	4.74%	~$2,268/mo	3 Years
2-Year Fixed	5.1%	~$2,349/mo	2 Years
HELOC	6.2%	~$2,583/mo (interest only)	Revolving

*Based on $500K mortgage, 25-year amortization, Canadian semi-annual compounding. Last updated: May 25, 2026.

Bank vs. Broker Rate Comparison

See how Big 6 posted rates stack up against the best broker rates available in Manitoba.

Lender	Type	5-Yr Fixed	3-Yr Fixed	5-Yr Variable	Action
National Bank	Bank	4.43%	4.44%	4.49%	Get Quote →
CIBC	Bank	4.51%	4.51%	4.12%	Get Quote →
RBC Royal Bank	Bank	4.62%	4.43%	3.98%	Get Quote →
BMO	Bank	4.76%	4.67%	4.12%	Get Quote →
TD Bank	Bank	4.96%	4.72%	4.31%	Get Quote →
Scotiabank	Bank	6.09%	6.05%	4.90%	Get Quote →
TOPTop Broker 🏆	Broker	4.89%	4.74%	5.45%	Get My Rate →

Bank rates shown are posted rates sourced from Bank of Canada. Actual rates may vary. Broker rates reflect best available insured rates from 50+ lenders. 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)
RRSP Home Buyers Plan
CMHC Mortgage Insurance
Manitoba Land Transfer Tax Rebate

Mortgage Rates by City in Manitoba

Winnipeg

Avg $355,000

+2.4%

Brandon

Avg $260,000

+1.8%

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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