What is the average mortgage rate in Prince Edward Island, Canada?

The current 5-year fixed mortgage rate in Prince Edward Island is approximately 4.31%, and the variable rate is approximately 3.62% (Bank of Canada data, as of Apr 16, 2026). Rates vary by lender, term, and whether you require CMHC insurance.

Do I need CMHC insurance when buying a home in Prince Edward Island?

CMHC mortgage default insurance is required in Prince Edward Island when your down payment is less than 20% of the purchase price. Premiums range from 2.80% to 4.00% of the insured loan amount and are added to your mortgage balance — not paid at closing.

What is the stress test rate for mortgages in Canada?

Under OSFI Guideline B-20, all Canadian mortgage applicants must qualify at the higher of their contract rate plus 2%, or 5.25%. With a 5.24% contract rate, the qualifying rate is approximately 7.24%.

Hipoteca — Prince Edward Island, Canada

Q: What is the land transfer tax in Prince Edward Island?

Prince Edward Island charges a Real Property Transfer Tax of 1% of the purchase price. The province also levies a provincial land tax annually. First-time buyers in PEI receive no specific transfer tax exemption.

Pre-filled with Prince Edward Island's average home price of C$355000, property tax of C$2840/year, and a 5-year fixed rate of 4.31%. Adjust any value below.

OSFI Stress Test: You must qualify at 7.24% (contract rate + 2%) under Canada's mortgage stress test rules. This calculator shows your actual payment — your lender will verify you can afford the stress-test rate.

Reference Rates

5-yr Fixed 4.31% Variable 3.62% Prime Rate 4.46% BoC Rate 2.2649%

Apr 16, 2026 · Bank of Canada

1 Detalles del Préstamo

Precio de la Casa

Pago Inicial

Monto del Préstamo

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Tasa de Interés (live 5-yr fixed 4.31%)

Período de Amortización

2 Costos Mensuales (Prince Edward Island averages pre-filled)

Impuesto de Propiedad ((anual)) ~0.8% in PE

Seguro de Casa ((anual))

Cuotas de Condominio (mensual, si aplica)

Incluir Seguro CMHC

Obligatorio si la inicial < 20 %

Pago Mensual Estimado

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Capital e Intereses

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Impuesto de Propiedad

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Seguro de Casa

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Cuotas de Condominio

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Total de Intereses

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Durante el préstamo

Costo Total

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Capital + intereses

Monto Financiado

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Cantidad prestada

Pago Inicial

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Del precio de la casa

Desglose del Pago Mensual

Evolución del Saldo del Préstamo

Comparativa de Tasas

Cómo cambia tu pago según la tasa de interés

Escenario de Tasa	Pago C+I	Total Intereses
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Tabla de Amortización

Desglose mensual completo

Prince Edward Island Mercado Inmobiliario

Prince Edward Island experienced rapid price appreciation from 2020–2023, with Charlottetown becoming a competitive seller's market. Limited housing supply on the Island combined with in-migration has driven prices well above pre-pandemic levels. The Island's tourism economy and quality of life draw retirees and remote workers.

Precio Promedio de la Vivienda C$355000

Tasa Efectiva del Impuesto a la Propiedad ~0.8%

Impuesto a la Propiedad Anual Prom. C$2840

Seguro Anual Prom. C$1200

Tasa de Prueba de Estrés ~7.24%

Comprar en Prince Edward Island

Despite recent appreciation, PEI still offers better affordability than central Canada. Charlottetown prices have cooled from peak levels, and rural properties remain significantly cheaper. Island wages, however, trend lower than national averages.

Impuesto sobre Transmisiones

Prince Edward Island charges a Real Property Transfer Tax of 1% of the purchase price. The province also levies a provincial land tax annually. First-time buyers in PEI receive no specific transfer tax exemption.

Seguro Hipotecario CMHC

CMHC insurance applies on purchases with less than 20% down. PEI saw dramatic price growth post-2020, raising the threshold at which buyers can avoid CMHC fees.

Mercados Clave

Charlottetown Summerside Stratford Cornwall

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