Manitoba Mortgage Payments
Mortgage rates, average home prices, and payment calculations for Manitoba (MB). Updated for 2026.
Monthly Payment
$1,784.91
at 4.29% fixed
Avg. Home Price
$355,000.00
Best Fixed Rate
4.29%
Best Variable Rate
3.95%
Current Mortgage Rates in Manitoba
| Rate Type | Posted Rate | Best Available | Discount |
|---|---|---|---|
| 5-Year Fixed | 6.49% | 4.29% | -2.20% |
| 5-Year Variable | 5.45% | 3.95% | -1.50% |
Rates are approximate and updated periodically. Always confirm with your lender.
Mortgage on the Average Manitoba Home
$355,000.00 home with 10% down ($35,500.00) at 4.29% over 25 years
Payment Frequency Comparison
How different payment schedules affect your mortgage at 4.29%
| Frequency | Payment | Total Interest | Total Cost | Interest Saved |
|---|---|---|---|---|
| Monthly | $1,784.91 | $206,067.56 | $535,472.06 | -- |
| Bi-Weekly | $823.80 | $206,067.56 | $535,472.06 | $0.00 |
| Accelerated Bi-Weekly | $892.45 | $250,690.23 | $580,094.73 | -$44,622.67 |
Fixed vs. Variable Rate
Monthly payment comparison for $355,000.00 home with 10% down
| Rate Type | Rate | Monthly Payment | Total Interest (25 yr) | Difference |
|---|---|---|---|---|
| 5-Year Fixed | 4.29% | $1,784.91 | $206,067.56 | -- |
| 5-Year Variable | 3.95% | $1,723.82 | $187,740.68 | $61.09/mo less |
Property Costs in Manitoba
Excludes utilities, home insurance, and maintenance. Property tax based on 1.25% average rate.
Mortgage Payments Across Canada
Average home with 10% down, 25-year amortization at best available fixed rate
| Province | Avg. Home Price | Rate | Down (10%) | Monthly Payment |
|---|---|---|---|---|
| Newfoundland and Labrador (NL) | $280,000.00 | 4.39% | $28,000.00 | $1,422.14 |
| New Brunswick (NB) | $310,000.00 | 4.29% | $31,000.00 | $1,558.65 |
| Saskatchewan (SK) | $315,000.00 | 4.29% | $31,500.00 | $1,583.79 |
| Manitoba (MB) | $355,000.00 | 4.29% | $35,500.00 | $1,784.91 |
| Prince Edward Island (PE) | $370,000.00 | 4.39% | $37,000.00 | $1,879.26 |
| Northwest Territories (NT) | $380,000.00 | 4.49% | $38,000.00 | $1,949.60 |
| Nova Scotia (NS) | $420,000.00 | 4.29% | $42,000.00 | $2,111.72 |
| Nunavut (NU) | $420,000.00 | 4.59% | $42,000.00 | $2,176.53 |
| Alberta (AB) | $470,000.00 | 4.29% | $47,000.00 | $2,363.12 |
| Quebec (QC) | $510,000.00 | 4.29% | $51,000.00 | $2,564.23 |
| Yukon (YT) | $530,000.00 | 4.49% | $53,000.00 | $2,719.17 |
| Ontario (ON) | $880,000.00 | 4.29% | $88,000.00 | $4,424.56 |
| British Columbia (BC) | $960,000.00 | 4.39% | $96,000.00 | $4,875.92 |
Housing Market in Manitoba
Manitoba offers some of the most affordable housing in Canada, with Winnipeg serving as the primary market. The average home price is well below the national average, making homeownership accessible to a broader range of buyers. Manitoba charges a Land Transfer Tax (LTT) on property purchases, though it remains more modest than Ontario's or BC's equivalent taxes.
Manitoba's Land Transfer Tax applies at graduated rates: 0% on the first $30,000, 0.5% on $30,001 to $90,000, 1.0% on $90,001 to $150,000, 1.5% on $150,001 to $200,000, and 2.0% on amounts over $200,000. Property tax rates in Winnipeg are among the higher rates in Canada, typically around 1.2% to 1.4% of assessed value. The higher property tax rates partly offset the lower home prices. CMHC insurance is rarely required for Winnipeg buyers with adequate savings.
Manitoba's housing market is expected to remain stable with moderate price growth. The province benefits from a diversified economy with strength in agriculture, manufacturing, and financial services. Immigration continues to support housing demand, particularly in Winnipeg. First-time buyers find Manitoba attractive because the lower price point means smaller down payments are needed, and monthly mortgage payments are manageable even at higher interest rates.