What is the average mortgage rate in New Brunswick, Canada?

The current 5-year fixed mortgage rate in New Brunswick 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 New Brunswick?

CMHC mortgage default insurance is required in New Brunswick 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%.

Mortgage Calculator — New Brunswick, Canada

Q: What is the land transfer tax in New Brunswick?

New Brunswick charges a Land Transfer Tax of 1.0% of the greater of the purchase price or assessed value. This is one of the lower rates in Canada and is straightforward to calculate.

Pre-filled with New Brunswick's average home price of C$300000, property tax of C$2400/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 Loan Details

Home Price

Down Payment

Loan Amount

Auto-calculated —

Interest Rate (live 5-yr fixed 4.31%)

Amortization Period

2 Monthly Costs (New Brunswick averages pre-filled)

Property Tax (annual) ~0.8% in NB

Home Insurance (annual)

Condo Fees (monthly, if applicable)

Include CMHC Insurance

Required when down payment < 20%

Estimated Monthly Payment

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Enter your loan details to see your payment

Principal & Interest

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Property Tax

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Home Insurance

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Condo Fees

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Total Interest Paid

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Over loan lifetime

Total Cost

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Principal + interest

Loan Amount

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Amount financed

Down Payment

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Of home price

Monthly Payment Breakdown

Balance Over Time

Rate Comparison

How your payment changes with different interest rates

Rate Scenario	Monthly P&I	Total Interest
Enter loan details above to see rate scenarios

Amortization Schedule

Full month-by-month payment breakdown

New Brunswick Housing Market

New Brunswick has seen significant price increases since 2020, driven by remote-worker relocation from larger cities. Moncton has emerged as a strong growth market. Despite appreciation, the province remains among Canada's most affordable for homebuyers.

Average Home Price C$300000

Effective Property Tax Rate ~0.8%

Avg Annual Property Tax C$2400

Avg Annual Insurance C$1200

Stress Test Rate ~7.24%

Buying in New Brunswick

New Brunswick offers strong value for money, particularly for buyers relocating from expensive markets. A C$300,000 average price means monthly payments are very manageable at current rates, even with 5–10% down payment scenarios.

Land Transfer Tax

New Brunswick charges a Land Transfer Tax of 1.0% of the greater of the purchase price or assessed value. This is one of the lower rates in Canada and is straightforward to calculate.

CMHC Default Insurance

CMHC insurance applies to insured purchases. New Brunswick's relatively low prices mean first-time buyers can enter the market with a 5% down payment and reasonable insurance premiums.

Key Markets

Moncton Saint John Fredericton Dieppe Riverview

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