Manitoba Mortgage Rates.

As of December 3rd, 2021
I am looking to get rates for:
LenderRateMonthly Payment
Blue Pearl Mortgage
Blue Pearl Mortgage
2.29%
$1,972
Laurentian
Laurentian
More From Laurentian
2.39%
$1,994
Assiniboine Credit Union
Assiniboine Credit Union
More From Assiniboine Credit Union
2.40%
$1,996
Mortgage Alliance
Mortgage Alliance
2.44%
$2,005
Access Credit Union
Access Credit Union
More From Access Credit Union
2.49%
$2,017
Equitable
Equitable
More From Equitable
2.54%
$2,028
Dominion Lending
Dominion Lending
2.59%
$2,039
Mortgage Architects
Mortgage Architects
2.59%
$2,039
2.64%
$2,051
2.66%
$2,055
2.69%
$2,062
2.69%
$2,062
TD
TD
More From TD
2.74%
$2,074
CMLS
CMLS
More From CMLS
2.74%
$2,074
Simplii Financial
Simplii Financial
More From Simplii Financial
2.79%
$2,085
First National
First National
More From First National
2.79%
$2,085
2.82%
$2,092
2.82%
$2,092
MCAP
MCAP
More From MCAP
2.84%
$2,097
Manulife
Manulife
More From Manulife
2.89%
$2,108
2.89%
$2,108
Desjardins
Desjardins
More From Desjardins
2.89%
$2,108
2.90%
$2,111
2.94%
$2,120
Sunova Credit Union
Sunova Credit Union
More From Sunova Credit Union
2.94%
$2,120
Scotiabank
Scotiabank
More From Scotiabank
4.79%
$2,576
4.79%
$2,576
4.79%
$2,576
These rates are for Prime customers. To qualify, you generally need a good credit score and a steady job. The following rates may not be valid for insured mortgages. Rates updated on 2021-12-03

Manitoba at a Glance

From the Polar Bear Capital of the World in Churchill to the plains of Portage la Prairie, Manitoba is located in the centre of Canada. Most of Manitoba’s population is located in Winnipeg, which is Manitoba’s capital and largest city. Winnipeg has 55% of Manitoba’s population and has the most hours of clear skies on average per year out of all Canadian cities. 

29% of Manitobans rent their homes, 69% own, and 2.6% live in band housing. Over the last 26 years, the number of rental units in Winnipeg increased by 4% while Winnipeg’s population increased by 20%.

Mortgage Lenders in Manitoba

The Big Five Banks (RBC, TD, Scotiabank, BMO, and CIBC) operate in Manitoba. There are 22 credit unions in Manitoba. Manitoba’s largest credit union, Steinbach Credit Union, is the eight largest in Canada with just under 100,000 members. This is followed by Assiniboine Credit Union, Cambrian Credit Union, and Access Credit Union. Hubert Financial is the only online credit union in Manitoba to offer mortgages.

Mortgage Brokers

Mortgage brokers in Manitoba are regulated by the Manitoba Securities Commission. There are also restricted mortgage brokers who can engage in soliciting mortgage lenders and can arrange a mortgage, but they cannot buy or sell mortgages. Registered insurance companies, banks, and credit unions do not need to be registered as mortgage brokers.

Some mortgage brokers include Dominion Lending Centres, Centum, Invis, Vertuity Mortgage, One Link Mortgage, Ideal Mortgage Solutions, and Divine Mortgage Group.

Lenders Unique to Manitoba

Access Credit Union

Access Credit Union

Access Credit Union has 26 branches concentrated in Winnipeg and scattered throughout central Manitoba. Created after a merger in 2021, Access Credit Union is now the fourth largest credit union in Manitoba. Access member shares cost $5 each.

Access Credit Union mortgages are only available to residents of Manitoba. Access Credit Union paid $8.2 million to members in 2021 through Member Rewards. Access Credit Union's Member Rewards pays out a patronage rebate through the amount of interest that you paid on your borrowing products or earned through your savings products. For 2021, the patronage allocation rate was 3.205% for Access Credit Union and 2.782% for former Crosstown Civic Credit Union.

For example, if you paid $5,000 in interest from your Access mortgage in 2021, a 3.205% patronage rebate would give you $160.25 back in patronage dividends. This indirectly reduces your Access Credit Union mortgage rate.

Assiniboine Credit Union

Assiniboine Credit Union

Assiniboine Credit Union
is the second largest credit union in Manitoba, with 125,000 members and $5 billion in assets. Assinibone has 16 branches in Winnipeg, Thompson, and Gillam and has been in business for over 75 years. Assiniboine Credit Union is a member of the Global Alliance for Banking on Values, alongside Vancity Savings and Affinity Credit Union.

Membership shares are $5, and you must be a resident of Manitoba in order to be eligible for an Assiniboine mortgage. Assiniboine Credit Union members can choose to invest in additional Preference Shares. In 2021, the dividend for Assiniboine Preference Shares was 3.25%, while the dividend for Surplus Shares was 1.25%.

For example, if you paid $5,000 in interest from your Assiniboine mortgage in 2021, a 1.25% Surplus Shares dividend would give you $62.50 back in profit-sharing. This indirectly reduces your Assiniboine Credit Union mortgage rate.

Assiniboine offers a variety of mortgage products, including speciality mortgages such as high-ratio mortgages, construction mortgages, investment property mortgages, vacation property mortgages, Islamic mortgages, and home renovation mortgages.

A variety of programs by Assiniboine helps to provide financial assistance to low-income members. Assinobne's Savings Circle provides money management training and matches their savings $3 for every $1 that the member saves, up to $250. The Individual Development Account matches $2 for every $1 saved for up to $1,000, while the Inner City Homebuyer Plan matches $1 for every $1 saved for a down payment, up to $7,000.

Cambrian Credit Union

Cambrian Credit Union

Cambrian Credit Union was founded over 60 years ago, and today has 12 branches in the Winnipeg area. Cambrian Credit Union mortgages are only open for Manitoba residents.

Cambrian's Green for Green program provides a $1 monthly bonus for having your account statements sent paperless. Cambrian membership shares cost $5, while shares cost $0.01 for those over the age of 59.

In 2019, Cambrian refunded over $6 million in service fees to members, and paid a 4.06% dividend of $340,000 to shareholders. This surplus shares dividend can help reduce your Cambrian mortgage rate through profit-sharing.

Cambrian is active within the Winnipeg area, with Cambrian donating 1% of their annual pre-tax income to local organizations. In 2020, this amounted to $300,000 being donated to community members such as the Winnipeg Symphony Orchestra, the YMCA Winnipeg, the Royal Winnipeg Ballet, the Canadian Red Cross, and the Manitoba Museum.

Steinbach Credit Union

Steinbach Credit Union

Steinbach Credit Union (SCU) has close to 100,000 members and over $7 billion in assets, making Steinbach the largest credit union in Manitoba and the eighth largest in Canada. Steinbach is only open to residents of Manitoba. Steinbach has three branches: One branch in Steinback and two branches in Winnipeg.

SCU's Member Bonus gave back $10 million to members as a cash bonus in 2021, which was paid as a 4.92% bonus on interest earned and as a 2.64% reduction in interest paid.

For example, if you paid SCU $5,000 in interest for a Steinbach mortgage in 2021, you will receive $137 back. If you earned $1,000 in a SCU savings account, you would earn an extra $49.20 in bonus interest.

Sunova Credit Union

Sunova Credit Union

Sunova Credit Union has a presence in Winnipeg and the rural areas surrounding the city. Sunova is centered around customer service, which is also reflected in their mascot: a St. Bernard dog that roams around their branches. Sunova has donated $44,000 to dog charities in Manitoba, and has provided financial support to local community centres, sports teams, and hosted a charity golf tournament in 2019.

Sunova membership shares cost $5, and only Manitoba residents can join. You can purchase additional shares up to a maximum of 200 shares. In 2019, the Sunova Member Share program paid a 4.83% dividend, while the dividend rate was 4.03% in 2020.

Sunova Credit Union also offers HELOCs, high-ratio insured mortgages, construction mortgages, home plus improvement mortgages, and cashback mortgages.

This calculator is provided for general information purposes only. WOWA does not guarantee the accuracy of the information shown and is not responsible for any consequence that arise from the use of the calculator and its results. Any financing products shown are subject to terms and conditions and may not be available in certain regions.