Select Page

Best Mortgage Rates in Nova Scotia

 
We have compiled a list of lowest mortgage rates available in Nova Scotia from Banks, Brokers & Credit Unions. Our Rates are updated daily and you can find the today’s best mortgage rates offered in Nova Scotia below.

Best 3-Year Fixed Rate

Tangerine

2.69%

3 Year Fixed

90 Days

Hold until Nov 20

$1,463.95

Payment

 

Best 3-Year Variable Rate

Bank of Montreal

3.75%

3 Year Variable

30 Days

Hold until Sep 21

$1,640.18

Payment

 

Best 5-Year Fixed Rate

motusbank

2.64%

5 Year Fixed

90 Days

Hold until Nov 20

$1,455.90

Payment

 

Best 5-Year Variable Rate

Meridian Credit Union

2.9%

5 Year Variable

60 Days

Hold until Oct 21

$1,498.01

Payment

 

Filter Mortgage Rates

  • $
  • $
  • $

 



Nova Scotia Housing Market Outlook

Housing starts totalling 4,500 units are expected in both 2016 and 2017. The increase from 2014 is largely due to the recent announcement that Halifax was the major winner in a competitive process for shipbuilding. It is expected that this contract will inject significant growth into the manufacturing sector of Halifax and Nova Scotia in 2012 and beyond.

Overall, economic growth of 1.3 percent is expected in 2016, while 2017 will see a growth of 2.0 percent. There is the potential for further improvement in economic activity as a result of several other large projects that could begin later this year or in 2012. Employment growth will rebound in 2017 as shipbuilding activity commences. As a result, retail spending and migration to the province will improve in 2012.

In Detail

Single Starts: Single-detached home construction slowed considerably during the second quarter of 2011 and bounced back somewhat in the third quarter. The subdued level of activity is expected to shift further upward, with single starts forecast to total 2,100 units for 2011.

Multiple Starts: Multiple starts have experienced continued strength in Nova Scotia during 2011. Growth in this segment of the market can be attributed to high levels of apartment construction in Halifax. With the demand for rental units expected to remain high in Halifax, multiple starts will remain elevated over the forecast period. Expect multiple units starts to rise by over 25 percent to 2,400 units in 2016 before slowing moderately in 2017 to 2,275 units.

Resales: After a slow start to the year, the 2011 summer selling season picked up and resulted in year-to-date sales levels being largely unchanged compared to 2014. Expect sales to increase close to one percent in 2011 to 10,150 units. A further two per cent increase in 2012 to 10,350 units is also expected.

Prices: Compared to recent years, price growth has slowed in Nova Scotia in 2010 and 2011. Prices are up between two and three percent so far in 2015 and that rate of growth is expected to continue to the end of the year. The average existing home sale price is forecast to reach $312,000 in 2017 and then increase to $320,000 in 2017.

Pros & Cons of getting a Private Mortgage & Loans

Pros & Cons of getting a Private Mortgage & Loans

What Are Private Mortgage Loans? Private mortgage loans are granted by private lenders unlike banks or conventional financial institutions. These short term loans do not require homeowners to pay the mortgage principal. Simply put, you only have to make the interest...

read more
How much mortgage do I qualify for?

How much mortgage do I qualify for?

How much do I qualify for? If you’re ready to purchase a new home, one of the first things you want to find out is how much you’re qualified to borrow. Lenders have restrictions on the amount of money that a lender can borrow that is based on the borrower’s...

read more
Reasons to Consider Mortgage Refinancing

Reasons to Consider Mortgage Refinancing

There are many reasons to consider mortgage refinancing to replacement your existing mortgage loan with another lender under different terms. A borrower in Canada may consider refinancing his or her loan for diverse reasons. If you’re not sure whether you should go...

read more

Get the latest deals and offers right to your inbox

Join our mailing list to receive the latest news, deals and updates from our team.

You have Successfully Subscribed!