PEI Mortgage Rates.

As of June 1, 2023, 7:23 PM ET
WOWA Trusted and Transparent
Lowest Mortgage Rates in PEI
As of June 1, 2023
Term
1-Year Fixed
5.95%
5.99%
2-Year Fixed
5.45%
5.64%
3-Year Fixed
4.99%
5.04%
4-Year Fixed
4.74%
4.99%
5-Year Fixed
4.64%
4.60%
3-Year Variable
5.60%
6.45%
5-Year Variable
5.40%
6.00%
All Mortgage Rates in PEI
As of June 1, 2023, 7:23 PM ET
Mortgage Term
Insured/Insurable
Mortgage Amount
Amortization
Years
Payment
Lender
Fixed Rate
Variable Rate
Citadel Mortgages
Citadel Mortgages
More From Citadel Mortgages
Google Icon4.5106 reviews
4.64%
Payment: $2,806.41/mo
5.40%
Payment: $3,022.92/mo
Neo Financial
Neo Financial
More From Neo Financial
Google Icon4.77 reviews
4.69%
Payment: $2,820.42/mo
5.60%
Payment: $3,081.13/mo
QuestMortgage
QuestMortgage
More From QuestMortgage
4.79%
Payment: $2,848.54/mo
5.60%
Payment: $3,081.13/mo
Mortgage Alliance
Mortgage Alliance
More From Mortgage Alliance
4.79%
Payment: $2,848.54/mo
5.80%
Payment: $3,139.83/mo
TD
TD
More From TD
4.89%
Payment: $2,876.79/mo
6.45%
Payment: $3,333.98/mo
Equitable
Equitable
More From Equitable
4.94%
Payment: $2,890.97/mo
5.80%
Payment: $3,139.83/mo
Dominion Lending
Dominion Lending
More From Dominion Lending
4.94%
Payment: $2,890.97/mo
--
Laurentian
Laurentian
More From Laurentian
4.99%
Payment: $2,905.18/mo
6.70%
Payment: $3,409.97/mo
HSBC
HSBC
More From HSBC
4.99%
Payment: $2,905.18/mo
5.90%
Payment: $3,169.37/mo
CIBC
CIBC
More From CIBC
5.04%
Payment: $2,919.42/mo
6.20%
Payment: $3,258.71/mo
First National
First National
More From First National
5.04%
Payment: $2,919.42/mo
5.55%
Payment: $3,066.53/mo
BMO
BMO
Promotional BMO Rates
for WOWA.ca
More From BMO
5.09%
Payment: $2,933.69/mo
6.39%
Payment: $3,315.85/mo
Canadian Western
Canadian Western
More From Canadian Western
5.14%
Payment: $2,948.00/mo
--
Simplii Financial
Simplii Financial
More From Simplii Financial
5.49%
Payment: $3,049.05/mo
6.55%
Payment: $3,364.29/mo
National Bank
National Bank
More From National Bank
5.54%
Payment: $3,063.61/mo
6.50%
Payment: $3,349.12/mo
Desjardins
Desjardins
More From Desjardins
5.54%
Payment: $3,063.61/mo
6.50%
Payment: $3,349.12/mo
RBC
RBC
More From RBC
5.74%
Payment: $3,122.17/mo
6.50%
Payment: $3,349.12/mo
Tangerine
Tangerine
More From Tangerine
5.74%
Payment: $3,122.17/mo
6.65%
Payment: $3,394.71/mo
motusbank
motusbank
More From motusbank
5.79%
Payment: $3,136.89/mo
6.75%
Payment: $3,425.25/mo
CMLS
CMLS
More From CMLS
5.79%
Payment: $3,136.89/mo
7.20%
Payment: $3,564.04/mo
Manulife
Manulife
More From Manulife
6.14%
Payment: $3,240.76/mo
--
Canada Life
Canada Life
More From Canada Life
6.34%
Payment: $3,300.77/mo
6.70%
Payment: $3,409.97/mo
Investors Group
Investors Group
More From Investors Group
6.34%
Payment: $3,300.77/mo
6.70%
Payment: $3,409.97/mo
Scotiabank
Scotiabank
More From Scotiabank
6.34%
Payment: $3,300.77/mo
7.15%
Payment: $3,548.51/mo

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.

Best 5-Year Fixed Mortgage Rates in PEI
Citadel MortgagesCitadel Mortgages
4.64%
TDTD
4.89%
BMOBMO
5.09%
RBCRBC
5.74%
ScotiabankScotiabank
6.34%
Select: Term
Fixed
Variable

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.