Balanced Market
Mortgage Rates in Newfoundland
Newfoundland and Labrador offers some of Canada's most affordable real estate with no land transfer tax. St. John's is the province's economic hub with a strong energy sector.
Avg Home Price
$290,000
Benchmark Price
$275,000
Year-Over-Year
↑ 2.4%
Best 5-Yr Fixed
4.89%
Today's Best Rates in NL
| 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 Newfoundland
No provincial LTT
First-Time Buyer Programs in Newfoundland
- First Home Savings Account (FHSA)
- CMHC Mortgage Insurance
- Home Buyers Plan (RRSP)
- NL Housing Programs
Mortgage Rates by City in Newfoundland
Frequently Asked Questions
What is the average home price in Newfoundland?
The average home price in Newfoundland is approximately $290,000, with St. John's averaging around $320,000.
Is there a land transfer tax in Newfoundland?
No — Newfoundland does not charge a land transfer tax, which reduces closing costs significantly compared to most other provinces.
What is the average mortgage rate in Newfoundland?
The best 5-year fixed mortgage rate in Newfoundland is currently around 4.89%, consistent with national rates.
Is St. John's real estate a good investment?
St. John's offers strong rental yields relative to purchase prices. The energy sector provides stable employment, though the market is smaller than central Canadian cities.
What programs help first-time buyers in Newfoundland?
Newfoundland first-time buyers can access the federal FHSA, Home Buyers Plan, CMHC insured mortgages, and Newfoundland and Labrador Housing Corporation programs.
How do mortgage brokers work in Newfoundland?
Newfoundland mortgage brokers are licensed under provincial regulations and can access rates from multiple lenders. Their service is free to borrowers.
Is Newfoundland real estate affordable?
Yes — Newfoundland is one of Canada's most affordable provinces with no land transfer tax and home prices well below the national average.
What is the stress test in Newfoundland?
The federal mortgage stress test applies in Newfoundland. You must qualify at your contract rate plus 2% or 5.25%, whichever is higher.
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