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 | $243,798.23 | $633,516.23 | -$0.00 |
| Accelerated Bi-Weekly | $1,055.86 | $296,591.25 | $686,309.25 | -$52,793.02 |
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 approximately 1.05% to 1.15% of assessed value, 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.