What is the average mortgage rate in Saskatchewan, Canada?

The current 5-year fixed mortgage rate in Saskatchewan 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 Saskatchewan?

CMHC mortgage default insurance is required in Saskatchewan 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 — Saskatchewan, Canada

Q: What is the land transfer tax in Saskatchewan?

Saskatchewan does not charge a provincial land transfer tax. Home buyers pay a title registration fee based on the property value — typically C$500–C$1,000. This is one of the lowest transfer cost structures in Canada.

Pre-filled with Saskatchewan's average home price of C$305000, property tax of C$2745/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

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Interest Rate (live 5-yr fixed 4.31%)

Amortization Period

2 Monthly Costs (Saskatchewan averages pre-filled)

Property Tax (annual) ~0.9% in SK

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

Saskatchewan Housing Market

Saskatchewan combines low home prices, no land transfer tax, and a resource-based economy. Saskatoon and Regina are the main markets, with prices significantly below the national average. The province benefits from potash, oil, and agricultural sectors.

Average Home Price C$305000

Effective Property Tax Rate ~0.9%

Avg Annual Property Tax C$2745

Avg Annual Insurance C$1100

Stress Test Rate ~7.24%

Buying in Saskatchewan

Saskatchewan is one of Canada's most affordable provinces for homebuyers. A C$305,000 average price means even first-time buyers with modest down payments face manageable payments. Property taxes and insurance are also lower than the national average.

Land Transfer Tax

Saskatchewan does not charge a provincial land transfer tax. Home buyers pay a title registration fee based on the property value — typically C$500–C$1,000. This is one of the lowest transfer cost structures in Canada.

CMHC Default Insurance

CMHC insurance is required for down payments under 20%. Saskatchewan's lower average prices mean entry-level buyers face smaller absolute insurance premiums than in most other provinces.

Key Markets

Saskatoon Regina Prince Albert Moose Jaw Swift Current

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