Find The Best Mortgage Rates in Winnipeg, Manitoba
5-year Fixed Rate
as of
06/17/2025
3.91%
High Ratio Mortgage
5-year Variable Rate
as of
06/17/2025
4.05%
Most Banks Current Prime Rate 4.95%
Get daily updated Canada mortgage lending rates from top lenders in Winnipeg, Manitoba.
Speak with licensed mortgage brokers to secure the best mortgage rates and lowest mortgage rates in Canada on your terms.
Not Just the Best Mortgage Rate
With over 20 years of experience in the mortgage industry, we’ve been dedicated to helping Canadians save on their mortgage borrowing costs. We’ve seen it all and know what it takes to secure the best deals for you!
Your financial situation is unique—it’s your shelter, your home. That’s why we work tirelessly, negotiating with dozens of lenders across Canada to find you the best mortgage rates tailored to your specific needs.
Our team of experienced mortgage brokers is specially trained to identify opportunities within your income, credit, and assets. We build a strong case to present to our network of trusted lenders, ensuring you get the most competitive home loan rates in Canada.
Whether you’re looking for mortgage brokering services, broker mortgage loans, or simply the best mortgage rates in Canada, we’re here to guide you every step of the way. Let us help you make the most of your mortgage journey!
A Mortgage Solution, for Every Situation
Banks, Credit unions and branchless mortgage lenders compete with your bank's business.
Working with rateshop.ca can get you lower rates than your bank, with the same features like a home equity line of credit or options like pre-payment privileges.
The Only Difference - You Save Thousands!
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Access to Canada's Mortgage Lenders
When you work with RateShop Mortgage, you can access lower mortgage rates than what your bank offers, all while enjoying the same great features like a home equity line of credit or flexible options such as pre-payment privileges.
Our well-connected network of lenders allows us to monitor Canada mortgage lending rates regularly. But we go above and beyond—scouring the internet and collaborating with our lenders to secure better-than-average industry rates. This means deeper discounts and more savings for you.
At RateShop, Canadians gain unfiltered access to the best mortgage rates and home loan rates in Canada. With connections to over 65 mortgage lenders across all provinces, we ensure you get the most competitive mortgage brokering services and broker mortgage loans tailored to your needs.
Whether you’re working with a mortgage broker, exploring mortgage brokerage options, or seeking the expertise of mortgage brokers, RateShop is here to help you find the perfect solution for your home financing goals.
Our Mortgage Brokers in Winnipeg
RateShop Mortgage Brokers specialize in delivering tailored mortgage solutions designed to help clients secure the best mortgage rates in Canada. With a deep understanding of local real estate trends, particularly in Winnipeg, we leverage our expertise in Winnipeg mortgage rates to provide the lowest mortgage rates for a variety of property types and financial situations. Whether you’re purchasing, refinancing, renewing, or exploring a home equity line of credit, we work closely with you to compare mortgage rates and lock in the most advantageous deals. Our in-depth knowledge of local lending programs and incentives ensures you maximize your financial benefits.
By tapping into a vast network of lenders, RateShop mortgage brokers help you save on mortgage costs, often securing better deals than major banks like TD, RBC, BMO, and CIBC. We compare Canada mortgage lending rates from over 65 lenders, including banks, credit unions, and monoline lenders, to find low mortgage rates and the best mortgage deals in Canada. This approach allows us to match your unique financial needs with the most competitive home loan rates in Canada, saving you thousands over the life of your mortgage.
Whether you’re working with a mortgage broker, exploring mortgage brokering services, or seeking brokered mortgage loans, RateShop is committed to helping you achieve your home financing goals. From best mortgage rates Winnipeg, Manitoba Canada to Canada low mortgage rates, we’re here to guide you every step of the way.
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Finding the Right Mortgage
Don't lock in just because your neighbour did! Mortgage terms vary from 6 months all the way up to 10 years and you can choose based on your family financial needs. Are you selling soon? Or maybe you want to invest in 2 years. Maybe you want some flexibility, the choice is yours but make it an educated one when you talk to our commission-free mortgage advisors to help you decide on what offers the best mortgage rate and highest savings.
| Fixed Rates | Mortgage Expert Insights |
|---|---|
| 1 Year Fixed Rate |
Great solution for a short-term mortgage needs, renewals can be competitive but rates can go up at maturity without notice. Perfect for new builds to sell after a year or refinance for equity. |
| 2 Years Fixed Rate |
More flexible, a longer duration to support a family need for a couple of years or planning an exit from an existing mortgage without penalties. |
| 3 Years Variable Rate |
3 Year terms can sometimes deliver the best savings, but are typically suggested in a low rate environment, consider a variable too since upon maturity you may get stuck with a higher renewal. |
| 4 Years Fixed Rate |
Banks use this to gain your business, but if you are saving atleast 20-30bps, definitely consider a 4 year term mortgage, compare your savings on a 5 year mortgage term. |
| 5 Years Fixed Rate |
On average, households will upgrade or alter their mortgage about every 5 years, avoiding penalties upon maturity and best rate savings. |
| 5 Years Variable Rate |
Usually recommended in lower rate environments, beat the bank on mortgage penalties and optimize your savings compared to a fixed mortgage offer for the same term. |
Where is the Mortgage Market heading?
History can teach us a lot, check out Canada's mortgage rates history over the past 48 years. Bank of Canada tracks conventional mortgage rates for 3 year and 5 year terms. We can help with understanding the pros & cons to a fixed mortgage rate vs. a variable mortgage rate.
Explore Our Mortgage Options
With recent mortgage rate increases, Canadians are increasingly focused on finding flexible mortgage options that align with their financial goals.
At RateShop, we work closely with our clients to uncover mortgage savings by exploring a variety of offers from multiple lenders. While securing the best mortgage rates in Canada is important, it’s not the only factor in achieving long-term financial stability.
Our experienced mortgage brokers take the time to assess your unique needs, qualifications, and long-term financial goals. Whether you’re looking for home loan rates in Canada, broker mortgage loans, or the best mortgage deals in Canada, we’ll guide you toward the right solution.
By leveraging our expertise in mortgage brokering and access to Canada low mortgage rates, we ensure you get a mortgage that works for you—today and in the future. Let us help you navigate the complexities of mortgage rates and Canada to find the perfect fit for your financial journey!
Learn how to create a monthly income by investing in mortgages
Learn how to create a monthly income by investing in mortgages
About Winnipeg, Manitoba
Winnipeg, Manitoba, ranks as Canada’s 7th largest city, with a 2021 population of 749,607—a 6.3% increase from 2016. Spanning 464.1 km², it boasts a population density of 1,615/km², making it one of the country’s most spacious urban centers. Known for its affordability, Winnipeg offers a low cost of living, with housing prices (~$350K) well below national averages. The city thrives as an economic hub, specializing in logistics, manufacturing, and aerospace, while its cultural scene shines through events like the Winnipeg Folk Festival and the NHL’s Winnipeg Jets.
As a strategic gateway between eastern and western Canada, Winnipeg combines metropolitan amenities with a strong sense of community. Neighborhoods like the historic Exchange District and family-friendly St. Vital cater to diverse lifestyles, while the city’s stable economy and high livability attract families, professionals, and investors. With its blend of economic opportunity, cultural richness, and affordable real estate, Winnipeg stands out as a top choice for those seeking a balanced urban lifestyle in the Prairies.
Winnipeg Real Estate Landscape
Winnipeg, Manitoba, the capital city located at the junction of the Red and Assiniboine Rivers, offers one of Canada's most affordable real estate markets, with the average detached home priced around 350,000 in 2024. The city provides diverse housing options, from historic Wolseley homes to modern downtown condos and suburban developments like Bridgwater Forest, along with accessible rental options averaging 1,300 monthly for a two-bedroom unit. As the Prairie region's economic and cultural hub, Winnipeg boasts stable employment in transportation, manufacturing, and government sectors, plus attractions like the Canadian Museum for Human Rights and extensive river trails, making it an appealing choice for homebuyers, families, and investors seeking affordability and urban amenities.
PROPERTY USE
Purchasing a property in Winnipeg as your primary residence qualifies you for the lowest available mortgage rates in the market. Lenders typically offer more favorable terms for owner-occupied homes compared to investment properties. However, Winnipeg's growing rental market means many buyers are exploring properties with income potential, such as legal suites or duplexes. Mortgage rates may be adjusted higher for pure investment properties, so it's important to clarify your intended use with lenders upfront.
Our Winnipeg mortgage specialists work with a network of lenders to secure competitive financing for all property types. Whether you're buying a single-family home, a property with a rental suite, or a multi-unit investment (up to fourplexes), we can find solutions that balance rate and flexibility. CMHC-insured financing allows up to 95% financing for 1-2 unit owner-occupied properties and 90% for 3-4 unit residential investments, making Winnipeg real estate accessible for both homeowners and investors.
From first-time homebuyers to experienced real estate investors, we tailor mortgage solutions to your Winnipeg property goals. The city's affordable housing market presents unique opportunities - you might qualify for primary residence rates on a home with a mortgage helper suite, or secure specialized financing for student rentals and mixed-use properties. With Winnipeg's stable rental demand and reasonable prices, strategic financing can help you build equity whether you're living in the property or operating it as an investment.
Best Mortgage Banks, Lenders in Winnipeg, Manitoba
Rateshop.ca works with all banks, credit unions and monoline lenders in Canada. With access to so many options, our mortgage broker's focus is on helping you choose a Mortgage Lender in Winnipeg with the lowest mortgage rate offered. We do so by sifting through lenders with promotions in Winnipeg. Mortgage lenders may follow their own internal process of financing in your Winnipeg.
lenders like TD Bank, Scotiabank, Meridian Credit Union, Duca credit Union and others may have a local branch closest to you in Winnipeg. Sometimes the branch facility can cost you a slightly higher rate. In many cases, lenders like First National, MCAP, RMG, ICICI, CMLS, Equitable Bank and others offer a similar suite of services online, even if they don't have a service location in Winnipeg. Some Mortgage lenders may also combine additional offers with their mortgage approval as a local customer from Winnipeg.
Mortgage Programs Offered in Winnipeg
When buying a property in Winnipeg, your downpayment determines your eligibility under insured, insurable or uninsured programs.
Insured mortgages in Winnipeg start with a minimum of 5% downpayment requirement up to a maximum purchase price of $500,000. 10% downpayment is required against the difference between purchase price and $500,000 in addition to the 5% to be eligible for the insured mortgage capped to a purchase price of $1,000,000. The maximum allowed GDS ratio is 39%, and the maximum allowed TDS ratio is 44%. The insurance premium against a default is added to the mortgage amount and amortization is limited to 25 years. These are generally the lowest rates offered by mortgage lenders due to their limited exposure and risk of default.
Insurable mortgages for purchases in Toronto are available through several banks, credit unions and monoline lenders, also known as back-end insured mortgages where the lender will qualify your purchase under a 25 year amortization and limit the GDS ratio to 39%, and the maximum allowed TDS ratio is 44%. However, the downpayment required for this program is a minimum of 20% and the greater the downpayment, better the rate.
For Uninsured Mortgages in Winnipeg, the amortization opens up to 30 years, and requires a minimum of 20% downpayment. These rates are higher in comparison to insured and insurable, mainly due to the mortgage lender's own risk towards your purchase. Refinances are typically treated as uninsured. Most mortgage lenders will only offer home equity line of credit products under this program.
In case of Mortgage Renewals, your property in Winnipeg can qualify for a lower mortgage renewal rate if you have a low loan-to-value, if you have an active default insurance policy and if you have not changed the amortization on your mortgage since purchase.
To qualify for the right product and lowest rate options, contact our knowledgeable mortgage brokers.
Closing Costs in Winnipeg, Manitoba
For any property purchases in Winnipeg, you will be required to hire a local Winnipeg lawyer to complete the closing. The solicitor's job is to prepare the closing documents according to Winnipeg laws and complete the mortgage registration on the property, register the title under your ownership.
The lawyer will perform a title search in the Winnipeg of Winnipeg database, arrange for title insurance and remit any applicable taxes, in some cases these are Winnipeg Land Transfer taxes as well as Winnipeg Land Transfer taxes. The lawyer is also responsible for communicating with Winnipeg hall to confirm the status of the property taxes to Winnipeg. The lawyer will also complete the conditions requested by the Mortgage lenders , and disburse any brokerage commissions on the transaction.
A combination of legal fees, land transfer taxes and registration & title insurance fees are known as closing costs, typically applicable to purchases with exceptions incase to refinances where land transfer taxes may not apply if there are no changes to the title.
Secure Your Dream Home in Winnipeg: Find the Best Mortgage Rates and Expert Guidance with RateShop
Impact to My Home Buyers in Winnipeg, Canada
Winnipeg’s real estate market remains more affordable than major Canadian cities, but rising Canada mortgage lending rates still affect affordability. Key factors impacting buyers include:
Higher borrowing costs – Even small rate increases can add thousands to your mortgage over time.
Competitive market – Well-priced homes move quickly, so securing pre-approval with the lowest mortgage rates Winnipeg gives you an edge.
Budget adjustments – With fluctuating mortgage rates and Canada’s economic trends, buyers must reassess their down payment and monthly payment plans.
By comparing mortgage rates Manitoba Canada, you can lock in a competitive rate before further increases.
How It Affects Fixed and Variable Rates
Winnipeg homebuyers must choose between fixed and variable mortgage rates, each with unique pros and cons:
Fixed Mortgage Rates
Stable payments – Your rate stays the same for the entire term (typically 1-5 years).
Protection against rate hikes – Ideal if Canada mortgage lending rates are expected to rise.
Slightly higher initial rates – Usually 0.5%–1% more than variable rates.
Variable Mortgage Rates
Lower starting rates – Often the best mortgage rates Winnipeg offers initially.
Fluctuates with prime rate – Payments change if the Bank of Canada adjusts rates.
Risk vs. reward – Potential savings if rates drop, but higher costs if they rise.
Using a mortgage calculator can help estimate payments for both options.
Qualification Process
To secure the best mortgage rates Canada, lenders assess:
✅ Credit Score – A strong credit history (680+) improves approval odds.
✅ Income & Employment – Stable employment and sufficient income to cover payments.
✅ Debt-to-Income Ratio (DTI) – Ideally below 40% (total debt vs. income).
✅ Down Payment – Minimum 5% (for homes under $500K), but 20% avoids mortgage insurance.
✅ Property Value & Type – Lenders assess the home’s condition and market value.
RateShop’s mortgage experts help streamline approvals by matching you with lenders offering the home loan rates Canada that fit your financial profile.
Considerations in Finding the Best Mortgage Rate
🔹 Compare Multiple Lenders
Banks, credit unions, and private lenders offer different mortgage rates Winnipeg—shop around!
🔹 Consider the Term Length
Shorter terms (1-3 years) may offer lower rates but require renewal sooner.
🔹 Watch for Hidden Fees
Some lenders charge penalties for breaking a mortgage early—check the fine print.
🔹 Get Pre-Approved
Lock in a rate for 90-120 days while you house hunt.
🔹 Use a Mortgage Broker
Brokers (like RateShop) have access to exclusive lowest mortgage rates Winnipeg and negotiate on your behalf.
Frequently Asked Questions about Mortgages in Winnipeg
What are the current mortgage rates in Winnipeg, Manitoba?
Mortgage rates in Winnipeg fluctuate based on the Bank of Canada’s prime rate, lender policies, and economic conditions. As of [current year], fixed rates range from 4.5% to 6.5%, while variable rates start around 5.5% - 7%. Check with local lenders or brokers for the most up-to-date Manitoba mortgage rates.
Where can I find the lowest mortgage rates in Winnipeg?
The lowest mortgage rates Winnipeg are often offered by credit unions, online lenders, and alternative mortgage providers. Comparing multiple lenders and negotiating with a mortgage broker can help secure the best deal.
How do Winnipeg mortgage rates compare to the rest of Canada?
Winnipeg’s mortgage rates are generally competitive with national averages. However, mortgage rates and Canada vary by province due to local market conditions. Manitoba’s stable housing market sometimes offers slightly lower rates than high-demand regions like Toronto or Vancouver.
What factors affect mortgage rates in Manitoba?
Key factors include the Bank of Canada’s policy rate, inflation, bond yields, lender competition, and your credit score. Manitoba mortgage rates also depend on loan type (fixed vs. variable) and term length.
Should I choose a fixed or variable mortgage rate in Winnipeg?
A fixed-rate mortgage offers stability with locked-in payments, while a variable rate may start lower but fluctuates with prime rate changes. Your choice depends on risk tolerance and market predictions for mortgage rates Winnipeg.
How can I get the best mortgage rates in Winnipeg?
To secure the best mortgage rates Winnipeg, improve your credit score, compare lenders, consider a mortgage broker, and negotiate terms. Shorter-term fixed rates (1-3 years) sometimes offer lower rates than 5-year terms.
Are mortgage rates expected to rise or fall in Winnipeg soon?
Mortgage rate trends depend on the Bank of Canada’s decisions. If inflation drops, rates may decrease, but economic uncertainty can lead to hikes. Monitoring current mortgage rates Winnipeg and expert forecasts can help you decide when to lock in.
Do first-time homebuyers get better mortgage rates in Manitoba?
While first-time buyers don’t automatically get lower rates, Manitoba offers incentives like land transfer tax rebates and programs through Manitoba Housing. Combining these with good credit can help secure competitive home loan rates Canada.
Everything You Need to Know About Mortgages, Refinancing, and Finding the Best Rates
Portable or Transferable Mortgages
A portable mortgage allows you to transfer your existing mortgage from your current home to a new property while retaining the same terms and interest rates for Canada. This can save you from penalties and help you secure the best mortgage rates in Canada without reapplying.
Standard vs. Collateral Mortgages
Understanding the difference between a standard mortgage and a collateral mortgage is crucial. A standard mortgage uses the purchased property as collateral, while a collateral mortgage includes additional properties, offering flexibility to access more funds. However, collateral mortgages may have higher penalties and are harder to transfer to new lenders.
Steps in a Mortgage Closing
Pre-Qualification: Assess your financial situation to determine how much you can borrow.
Approval: Receive a mortgage offer outlining the terms, including Canada mortgage lending rates.
Conditions & Appraisals: Complete lender conditions and property appraisals.
Solicitor Instructions: Your solicitor receives instructions from the lender.
Signing: Review and sign the mortgage agreement and other legal documents.
Funding: The loan is funded, and the property purchase is complete.
Qualification Criteria
To qualify for a mortgage in Canada, lenders evaluate your income, credit score, and ability to pass the stress test.
Income
Lenders assess your gross debt service (GDS) and total debt service (TDS) ratios, which should not exceed 39% and 44%, respectively. Stable income from salaried jobs is preferred, but self-employed individuals can still qualify with the help of a mortgage broker.
Credit
Your credit score, provided by Equifax or TransUnion, reflects your financial reliability. A higher score can secure you the best mortgage loan rates in Canada.
Stress Test
The mortgage stress test ensures you can afford payments if interest rates for Canada rise. You must qualify at a rate 2% higher than your contract rate or the Bank of Canada’s benchmark rate.
Pitfalls of a Bad Mortgage
Avoid these common pitfalls:
Hidden Fees: Always read the fine print.
High Interest Rates: Compare mortgage rates and Canada to find the best deal.
Prepayment Penalties: Understand the costs of breaking your mortgage early.
Hefty Penalties
Breaking your mortgage early can result in significant penalties, including:
Prepayment Penalties: Charged for paying off your mortgage early.
Discharge Fees: Fees to release your mortgage from the property.
Refinance Restrictions
Refinancing in Canada comes with restrictions:
Maximum LTV: You can borrow up to 80% of your home’s appraised value.
Credit Score: A minimum score of 620 is required.
Income Verification: Lenders will reassess your income.
Appraisal Costs: You’ll need to pay for a property appraisal.
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RateShop Inc. is a Mortgage Brokerage offering lowest mortgage rates to Canadians. We are provincially licensed in the following provinces: Mortgage Brokerage Ontario FSRA #12733, British Columbia BCFSA #MB600776, Alberta RECA #00523056P, Saskatchewan FCAA #00511126, PEI #160622, New Brunswick FCNB #88426, Newfoundland/Labrador.
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