Overview
Manitoba mortgage rates are currently among the most competitive in Canada, with several lenders offering fixed and variable rates under 4% for qualified borrowers. Rates may vary depending on your down payment, credit score, and the specifics of your mortgage application. Below, you'll find a detailed comparison of the best available rates, major lender offerings, and advice for securing the lowest possible rate in Manitoba.
Current Best Mortgage Rates in Manitoba
Leading Rates as of July 2025
| Term | Type | Best Rate (%) | Typical Provider |
|---|
| 5-Year | Fixed | 3.84–3.99 | Canadian Lenders, Credit Unions |
| 3-Year | Fixed | 3.91–4.19 | Credit Unions, Brokers |
| 2-Year | Fixed | 4.24–4.49 | Credit Unions |
| 5-Year | Variable | 3.95–4.00 | Credit Unions, Big Banks |
- The lowest fixed rates (5-year, insured) are advertised from 3.84%–3.99% by both national lenders and Manitoba-based credit unions.
- Variable rates start as low as 3.95% (prime - 1.00%) at some local credit unions.
- Some lenders offer patronage dividends or profit-sharing, which can further reduce your effective interest cost.
Major Manitoba Lender Offerings
| Lender/Broker | 5-Year Fixed | 3-Year Fixed | 5-Year Variable | Notes |
|---|
| Access Credit Union | 3.99% | 4.19% | 3.95% (closed) | Patronage rebates may apply |
| Cambrian Credit Union | 4.19% | 4.30% | N/A | |
| DLC Mainstream Mortgages | 3.99% | 4.24% | N/A | |
| Centum Financial | 4.19% | 4.14% | N/A | |
| Verico One-Link Mortgage | 3.99% | 4.19% | N/A | |
| Westoba Credit Union | 3.99% | 4.19% | N/A | |
Rates are subject to change and may vary based on applicant profile and mortgage type (insured, conventional, etc.).
How to Qualify for the Best Rate
- Strong Credit Score: Lenders offer the lowest rates to borrowers with excellent credit.
- Stable Income & Low Debt: Higher income and lower debt loads improve your risk profile.
- Higher Down Payment: Insured mortgages (less than 20% down) often get the best rates.
- Consider All Lenders: Compare local credit unions, big banks, and online brokers for the best deal.
Provincial Considerations & Government Programs
Manitoba-Specific Notes
- Manitoba lenders are influenced by the Bank of Canada’s policy rate (currently 4.95%), which affects variable rates.
- Some Manitoba credit unions offer profit-sharing or patronage rebates that can effectively lower your net interest cost.
National & Provincial Programs for First-Time Buyers
- First-Time Home Buyer Incentive: Federal shared equity program.
- Home Buyers’ Plan (HBP): Withdraw up to $35,000 from your RRSP tax-free for a down payment.
- Land Transfer Tax Rebates: Manitoba does not have a first-time homebuyer rebate for land transfer tax, but check for other local incentives.
- GST/HST New Housing Rebate: Partial rebate on the GST or HST paid for new builds or substantial renovations.
For a comprehensive, personalized mortgage solution, visit theratefinder. This platform helps Manitobans compare rates across dozens of lenders and walks you through a multi-step application process. Begin your application at theratefinder.ca/onboarding to access competitive rates and tailored advice.
Recommendations & Next Steps
- Compare rates from multiple lenders, including credit unions and mortgage brokers.
- Assess total mortgage features, not just the rate—look at prepayment privileges, portability, and penalties.
- Improve your application by boosting your credit score and reducing debt.
- Explore government programs for added savings, especially if you're a first-time buyer.
Start your personalized mortgage rate comparison and application at theratefinder.ca/onboarding for the best rates in Manitoba.