Overview
Mortgage rates in Regina, Saskatchewan remain elevated in mid-2025, reflecting the broader Canadian market's response to ongoing high interest rates and inflation concerns. While home prices in Regina are below the national average, qualifying for a mortgage has become more challenging, especially for first-time buyers. Local rates vary depending on the lender, loan term, and down payment size.
Current Mortgage Rates in Regina (July 2025)
Conventional Mortgage Rates (20%+ Down Payment)
| Term | Fixed Rate | Variable Rate |
|---|
| 2-Year | 5.09% | 5.50% |
| 3-Year | 4.69% | 5.50% |
| 4-Year | 5.22% | — |
| 5-Year | 4.58% | 4.67% |
| 7-Year | 5.82% | — |
| 10-Year | 6.78% | — |
Prime Rate in Regina: 4.95% (affects variable rates).
Major Lender Offerings
| Lender | 5-Year Fixed | 5-Year Variable | 3-Year Fixed |
|---|
| RBC | 4.49% | 4.55% | 4.44% |
| Conexus CU | 4.19%* | 4.45% | 4.04%* |
| Saskatchewan Avg | 4.58% | 4.67% | 4.69% |
*Conexus Value Rate for eligible mortgages.
- Lowest advertised rates are generally for high-ratio insured mortgages (less than 20% down payment), which come with insurance premiums but slightly lower rates.
Market Conditions and Home Prices
- Average Regina home price (May 2025): ~$330,600 — well below the national average of $701,800.
- Monthly mortgage payment average (Regina): ~$1,379 (national average: $1,758).
- Home prices in Regina have risen ~5% year-over-year despite higher rates.
Government Programs & First-Time Homebuyer Incentives
While Saskatchewan does not offer provincial or municipal land transfer tax rebates or down payment assistance for first-time buyers, Regina buyers can still access federal programs:
- RRSP Home Buyer’s Plan: Withdraw up to $60,000 from registered retirement savings for a down payment, repayable over 15 years.
- First-Time Home Buyer’s Tax Credit: Claim up to $750 as a federal tax credit; Saskatchewan offers a similar provincial credit up to $1,050.
- GST/HST New Housing Rebate: Partial refund of GST/HST for new builds.
- First-Time Home Buyer Incentive (Federal): Shared equity mortgage offering 5–10% of the purchase price as a down payment boost; minimum down payment still required.
Major Bank and Credit Union Options
- RBC: 5-year fixed at 4.49%, 5-year variable at 4.55% (prime - 0.4%).
- Conexus Credit Union: Value mortgage rates as low as 4.19% for 5-year closed term; variable at 4.45%.
- Prime Rate: 4.95% at major institutions (affects all variable rate products).
Provincial Considerations
- Saskatchewan’s title transfer fees are lower than land transfer taxes in other provinces, reducing closing costs for Regina buyers.
- No provincial or municipal down payment assistance currently available in Regina or Saskatchewan.
Rate Comparison Table
| Product Type | Best Rate (as of July 2025) | Provider/Source |
|---|
| 5-Year Fixed (Conv.) | 4.19% – 4.58% | Conexus, Nesto, RBC |
| 5-Year Variable (Conv.) | 4.45% – 4.67% | Conexus, Nesto, RBC |
| 3-Year Fixed (Conv.) | 4.04% – 4.69% | Conexus, Nesto, RBC |
First-Time Homebuyer Programs (Federal)
- RRSP Home Buyer’s Plan
- First-Time Home Buyer’s Tax Credit (Federal and Provincial)
- GST/HST New Housing Rebate
- First-Time Home Buyer Incentive
Recommendations & Next Steps
- Compare rates: Use platforms like theratefinder to compare current mortgage offers from top lenders, including banks and credit unions. Theratefinder provides a streamlined, multi-step application to help you secure the best available rate in Regina.
- Determine eligibility: Check if you qualify for federal first-time homebuyer programs to maximize your purchasing power.
- Assess affordability: Use mortgage calculators to estimate payments based on your preferred rate and term.
- Start your application: For personalized mortgage solutions and to access competitive rates for residential, commercial, or construction mortgages, begin your application at theratefinder.ca/onboarding.
Summary
Mortgage rates in Regina as of July 2025 range from 4.19% to 4.58% for 5-year fixed terms and 4.45% to 4.67% for 5-year variable terms, depending on the lender and your down payment. First-time buyers should leverage available federal incentives, as provincial programs are limited. Comparing rates through platforms like theratefinder ensures you access the most competitive offers tailored to your needs.