Mortgage Rates in PEI.

As of January 23rd, 2021
Today's Best 5-Year Rate PEI
1.68%
Fixed
1.55%
Variable
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Best PEI Mortgage Rates

Best mortgage rates sorted for you by mortgage term length

Mortgage TermFixed RateVariable Rate
1 YEAR TERM
1.64%
Get Rate
No Rate
2 YEAR TERM
1.64%
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No Rate
3 YEAR TERM
1.64%
Get Rate
2.45%
Get Rate
4 YEAR TERM
1.64%
Get Rate
No Rate
5 YEAR TERM
1.68%
Get Rate
1.55%
Get Rate

While we try our best to get you the best rates, we cannot guarantee that they are always accurate. WOWA assumes no liability for the accuracy of the information presented, and will not be held responsible for any damages resulting from its use.

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Current Mortgage Rates PEI

Find the most up to date mortgage rates tailored to your needs. Just adjust the values below.

Term Length
Type
Home Price
Downpayment
%
Mortgage Amount
Amortization
I am looking to get rates for:
LenderRateMonthly Payment
Canada Life
Canada Life
1.68%
$1,838
Equitable
Equitable
Get This Rate
1.69%
$1,840
FN
FN
Get This Rate
1.74%
$1,851
Simplii Financial
Simplii Financial
1.76%
$1,855
Peoples Bank
Peoples Bank
Get This Rate
1.79%
$1,862
TD
TD
Get This Rate
1.84%
$1,872
BMO
BMO
1.93%
$1,892
motusbank
motusbank
1.95%
$1,896
Tangerine
Tangerine
Get This Rate
1.99%
$1,905
MCAP
MCAP
Get This Rate
2.04%
$1,916
Investors Group
Investors Group
2.04%
$1,916
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Notes

  • Weekly changes compared to January 23rd, 2021
  • 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 uninsured mortgages.

Mortgage Rates in Prince Edward Island

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.

While we try our best to get you the best rates, we cannot guarantee that they are always accurate. WOWA assumes no liability for the accuracy of the information presented, and will not be held responsible for any damages resulting from its use.