Overview
Mortgage rates in Regina, Saskatchewan remain competitive in Canada, with several options from major banks, credit unions, and brokerages. Rates are influenced by the Bank of Canada’s policy rate and local market conditions, with current rates reflecting the broader Canadian trend of elevated but slowly stabilizing interest costs.
Current Mortgage Rates in Regina (August 2025)
Fixed and Variable Rate Comparison
| Term | Best Rate (Conventional) | Major Bank (RBC) | Credit Union (Conexus) | Mortgage Broker | Notes |
|---|
| 1-Year Fixed | 5.84% | 5.49% | 5.84% | 4.99% | Broker rate may vary |
| 2-Year Fixed | 5.09% | 4.79% | 5.29% | 4.24% | Broker rate may vary |
| 3-Year Fixed | 4.77% | 4.54% | 4.04% | 3.69% | Broker rate may vary |
| 4-Year Fixed | 5.27% | 4.59% | 4.09% | 4.19% | Broker rate may vary |
| 5-Year Fixed | 4.71% | 4.69% | 4.19% | 4.19% | Broker rate may vary |
| 5-Year Variable | 4.67% | 4.55% | 4.45% | N/A | |
- Prime Rate in Regina: 4.95%
- Variable rates are generally slightly lower than fixed, but subject to change with the Bank of Canada rate adjustments.
Market Conditions in Regina
- Average home price (July 2025): $330,600
- Monthly mortgage payment (Regina average): $1,379
- Home prices have increased slightly year-over-year, although the national average has decreased.
- Inventory remains tight, creating a competitive market for buyers.
Major Canadian Bank Offerings
RBC (Royal Bank of Canada)
- 5-Year Fixed: 4.69%
- 5-Year Variable: 4.55% (Prime - 0.40%)
- 3-Year Fixed: 4.54%
- Special offers and incentives may be available, such as cashback up to $5,700 for new mortgages.
Conexus Credit Union
- 5-Year Closed Fixed: 4.19% (Value Rate)
- 5-Year Variable: 4.45%
- 3-Year Closed Fixed: 4.04%
Affinity Credit Union
- 5-Year Closed Fixed: 3.99%
- Prime Rate: 4.95%
Broker Rates
- Brokers like True North Mortgage advertise rates as low as 3.69% for 3-year fixed, and 4.19% for 5-year fixed.
Government Programs & First-Time Homebuyer Incentives
- First-Time Home Buyers’ Tax Credit (Federal): Up to $750 non-refundable federal tax credit.
- Saskatchewan First-Time Homebuyers’ Tax Credit: Provincial non-refundable credit of $1,050.
- First-Time Home Buyer Incentive: Shared equity program with the federal government to reduce monthly payments.
- Home Buyers’ Plan (HBP): Withdraw up to $35,000 from RRSPs tax-free for a down payment.
Provincial Variations & Regulations
- Saskatchewan has relatively low land transfer fees and no provincial sales tax on mortgage insurance premiums.
- Minimum down payment across Canada: 5% for homes under $500,000, with incremental increases above that threshold.
- Mortgage default insurance is required for down payments under 20%, affecting the rates and total cost.
Actionable Recommendations
- Compare Rates: Use platforms like theratefinder to view and compare real-time mortgage rates from leading Canadian lenders for residential, commercial, and construction loans. This ensures you get the most competitive rate available.
- Get Pre-Approved: In Regina’s competitive market, secure a pre-approval to lock in your rate and strengthen your offer.
- Consider Broker Options: Mortgage brokers often have access to lower, unpublished rates and can help with unique financial situations.
- Explore Incentives: First-time buyers should maximize federal and provincial tax credits and shared equity programs.
- Start Your Application: For a streamlined, multi-step application process and access to exclusive rates, begin your mortgage application at theratefinder.ca/onboarding/email for a personalized solution.
Summary
Mortgage rates in Regina as of August 2025 are generally between 4.19% and 4.71% for 5-year fixed terms, with variable rates slightly lower. The market remains competitive, especially for first-time buyers, and several federal and provincial programs are available to reduce your costs. Comparing multiple lenders and leveraging expert platforms like theratefinder is the most effective way to secure the best mortgage for your needs.