PEI Mortgage Rates.

As of May 17th, 2022
Term Length
Mortgage Type
Sort By (Low to High)
Lender Variable RateFixed Rate
Citadel Mortgages
Citadel Mortgages
1.95%
3.74%
Neo Financial
Neo Financial
2.05%
3.89%
nesto
nesto
2.20%
3.99%
Mortgage Alliance
Mortgage Alliance
2.25%
4.14%
2.30%
4.39%
2.30%
4.19%
2.39%
4.34%
2.65%
4.25%
BMO
BMO
More From BMO
2.65%
4.36%
2.70%
4.49%
2.74%
4.42%
2.75%
4.54%
2.75%
4.19%
2.75%
4.29%
2.75%
4.49%
2.75%
4.39%
Simplii Financial
Simplii Financial
More From Simplii Financial
2.80%
4.34%
3.20%
5.09%
3.20%
4.99%
3.40%
4.99%
3.70%
4.64%
--
4.19%
Dominion Lending
Dominion Lending
--
4.19%
--
4.52%

Prince Edward Island at a Glance

Prince Edward Island is Canada’s smallest province, but it is also Canada’s most densely populated province.

Prince Edward Island is Canada’s smallest province, but it is also Canada’s most densely populated province. Apart from the main island, PEI also includes 231 minor islands. Over 90% of all jobs created in the province from 2008 to 2015 was located in the province’s capital city, Charlottetown. Summerside is the only other city on the island, with towns including Stratford, Three Rivers, and Cornwall. The average price of a home in PEI reached its highest level ever in October 2020, at $298,668. This was a 19.6% increase in home prices over October 2019.

All of Canada’s Five Big Banks, RBC, TD, Scotiabank, BMO, and CIBC, have bank branches located in PEI. Scotiabank has the highest number of branches at seven, followed by CIBC with six branches.

There are seven credit unions based in PEI. These are: Consolidated Credit Union, Evangeline-Central Credit Union, Malpeque Bay Credit Union, Morell Credit Union, Provincial Credit Union, Souris Credit Union, and Tignish Credit Union. All seven of these credit unions offer residential mortgages.

Mortgage Brokers

Prince Edward Island does not have any mortgage broker regulations. Instead, mortgage brokers are licensed as real estate agents under PEI’s Real Estate Trading Act and Regulations. Real estate agents and brokers are licensed by the Prince Edward Island Real Estate Association.

National mortgage brokers all operate in PEI, such as Dominion Lending Centres, Invis, The Mortgage Centre, and Mortgage Architects. Local mortgage brokers include Premiere Mortgage PEI and Mortgage Broker Store.

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.