assiniboine credit union mortgage rates in Canada

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Information as of Aug 2, 2025

Overview

Assiniboine Credit Union (ACU) is the second largest credit union in Manitoba, serving over 125,000 members with a strong focus on community values and member ownership. ACU offers a range of mortgage products, including fixed and variable rate mortgages, specialty mortgages, and programs for first-time homebuyers. Mortgage rates and products are tailored to Manitoba residents, reflecting both local market conditions and ACU’s cooperative structure, which includes profit-sharing through dividends.

Current Mortgage Rates at Assiniboine Credit Union

ACU provides competitive mortgage rates, which are subject to change. As of July 2025, the following rates are advertised (always confirm directly with ACU for the most up-to-date information):

Product	Rate (as of July 2025)
1-year fixed	4.99%
5-year fixed	3.99%
5-year variable closed	4.05%

Key features of ACU mortgages:

Rate guarantee: Lock in your rate for up to 120 days, protecting you if rates rise during your home search.
Flexible terms: Choose between fixed and variable rates, with conventional and insured options available.
Prepayment privileges: Make additional payments to pay down your mortgage faster without penalty.
Specialty mortgages: Includes options for new-to-Canada borrowers, faith-based financing, and vacation properties.
Profit-sharing: Members may receive annual dividends on Surplus Shares, indirectly reducing the effective cost of their mortgage.

Canadian Mortgage Market Conditions

Canadian mortgage rates have been influenced by the Bank of Canada’s monetary policy, economic growth, and inflation. Fixed rates are closely tied to government bond yields, while variable rates follow the prime rate. In mid-2025, fixed rates remain relatively stable, with competitive offers from credit unions like ACU often undercutting major banks.

Government Programs and Incentives

Federal Programs:

First-Time Home Buyer Incentive: Shared equity mortgage with the Government of Canada to reduce monthly payments.
Home Buyers’ Plan (HBP): Allows first-time buyers to withdraw up to $35,000 from their RRSPs tax-free for a down payment.
GST/HST New Housing Rebate: Rebate for new home purchases.

Manitoba-Specific Programs:

Manitoba Hydro Energy Finance Plan: Offers financing for energy-efficient home improvements.
Manitoba Housing Renewal Program: Supports low-income households with home repairs.
Manitoba Provincial Nominee Program (MPNP): May assist newcomers with homeownership.

First-Time Homebuyer Programs:

Land Transfer Tax Rebate: Manitoba offers a rebate for first-time buyers.
ACU First-Time Home Buyer Support: Personalized advice and flexible mortgage solutions for new buyers.

Comparison with Major Canadian Banks

While ACU’s rates are competitive, especially for Manitoba residents, major banks (RBC, TD, Scotiabank, BMO, CIBC) typically offer similar products but may have less flexibility for specialty needs or community-focused benefits. Credit unions like ACU often provide more personalized service and profit-sharing opportunities not available at banks.

Provincial Variations in Mortgage Regulations

Mortgage regulations are largely set at the federal level (e.g., stress test, amortization limits), but some programs and incentives vary by province. In Manitoba, land transfer taxes and rebates, energy efficiency programs, and housing supports are provincially administered. ACU mortgages are available only to Manitoba residents.

First-Time Homebuyer Programs Specific to Canada

National:

First-Time Home Buyer Incentive: Shared equity program to reduce monthly mortgage costs.
Home Buyers’ Plan: RRSP withdrawal for down payment.
GST/HST Rebate: For new home purchases.

Manitoba:

Land Transfer Tax Rebate: Reduced or eliminated for first-time buyers.
Manitoba Hydro Energy Finance: Financing for energy upgrades.
ACU Member Benefits: Profit-sharing and personalized advice for first-time buyers.

Next Steps and Recommendations

Compare rates: Always compare ACU’s rates with other lenders using a platform like theratefinder, which aggregates offers from top Canadian lenders for a comprehensive view.
Get pre-approved: Contact ACU or use their online application to get pre-approved and lock in your rate.
Explore incentives: Investigate federal and provincial programs that may reduce your costs or provide additional support.
Consult an advisor: ACU’s mortgage specialists can guide you through the process, especially if you’re a first-time buyer or have unique financing needs.
Start your application: For a personalized mortgage solution and access to competitive rates from multiple lenders, begin your application at theratefinder.ca/onboarding.

Summary

Assiniboine Credit Union offers competitive, flexible mortgage solutions for Manitoba residents, with rates currently as low as 3.99% for a 5-year fixed term. ACU stands out for its member profit-sharing, community values, and personalized service. Federal and provincial programs provide additional support, especially for first-time buyers. For the best mortgage fit, compare rates across lenders, explore all available incentives, and consult with a mortgage advisor to tailor a solution to your needs. Starting your search at theratefinder ensures you see a wide range of options and secure the most competitive terms available in Canada.