Nova Scotia Mortgage Payments
Mortgage rates, average home prices, and payment calculations for Nova Scotia (NS). Updated for 2026.
Monthly Payment
$2,111.72
at 4.29% fixed
Avg. Home Price
$420,000.00
Best Fixed Rate
4.29%
Best Variable Rate
3.99%
Current Mortgage Rates in Nova Scotia
| Rate Type | Posted Rate | Best Available | Discount |
|---|---|---|---|
| 5-Year Fixed | 6.49% | 4.29% | -2.20% |
| 5-Year Variable | 5.45% | 3.99% | -1.46% |
Rates are approximate and updated periodically. Always confirm with your lender.
Mortgage on the Average Nova Scotia Home
$420,000.00 home with 10% down ($42,000.00) 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 | $2,111.72 | $243,798.23 | $633,516.23 | -- |
| Bi-Weekly | $974.64 | $242,724.94 | $632,442.94 | $1,073.29 |
| Accelerated Bi-Weekly | $1,055.86 | $207,875.43 | $597,593.43 | $35,922.80 |
Fixed vs. Variable Rate
Monthly payment comparison for $420,000.00 home with 10% down
| Rate Type | Rate | Monthly Payment | Total Interest (25 yr) | Difference |
|---|---|---|---|---|
| 5-Year Fixed | 4.29% | $2,111.72 | $243,798.23 | -- |
| 5-Year Variable | 3.99% | $2,047.88 | $224,646.99 | $63.84/mo less |
Property Costs in Nova Scotia
Excludes utilities, home insurance, and maintenance. Property tax based on 1.08% 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 Nova Scotia
Nova Scotia's housing market, centred on Halifax, has seen substantial growth fueled by immigration and interprovincial migration. The province charges a Deed Transfer Tax on property purchases, typically at a rate of 1.5% of the purchase price, though the exact rate varies by municipality. Halifax has become one of the fastest-growing cities in Atlantic Canada.
Nova Scotia's Deed Transfer Tax is levied at the municipal level, with most municipalities charging 1.5% of the purchase price. Halifax Regional Municipality charges 1.5%. There is no provincial first-time homebuyer rebate on the deed transfer tax, though first-time buyers can access federal programs. Property tax rates in Halifax are about 0.80% of assessed value for 2026, which is moderate by national standards.
Halifax continues to be the engine of Nova Scotia's housing market, with ongoing demand from immigration and a growing tech sector. Housing supply has been a significant challenge, with construction lagging behind demand. The provincial government has introduced measures to increase housing supply, including zoning reforms and pre-approval processes. Mortgage rates and the stress test remain important factors for buyers, but the relatively moderate home prices compared to Toronto and Vancouver keep Nova Scotia accessible.
Official Sources
Built and reviewed by Konstantin Iakovlev · Data from CRA, CMHC, Bank of Canada · MethodologyDisclaimer: This page provides estimates based on publicly available data from CRA and other government sources. It does not constitute financial advice. Consult a qualified advisor for decisions about your specific situation.