PEI Mortgage Rates.

As of December 3rd, 2021

I am looking to get rates for:

Lender	Rate	Monthly Payment

Citadel Mortgages	2.08% 5 YEARS FIXED	$1,925
Laurentian More From Laurentian	2.39% 5 YEARS FIXED	$1,994
Mortgage Alliance	2.44% 5 YEARS FIXED	$2,005
Equitable More From Equitable	2.54% 5 YEARS FIXED	$2,028
Dominion Lending	2.59% 5 YEARS FIXED	$2,039
Mortgage Architects	2.59% 5 YEARS FIXED	$2,039
Tangerine More From Tangerine	2.64% 5 YEARS FIXED	$2,051
Canada Life More From Canada Life	2.66% 5 YEARS FIXED	$2,055
Meridian More From Meridian	2.69% 5 YEARS FIXED	$2,062
HSBC More From HSBC	2.69% 5 YEARS FIXED	$2,062
TD More From TD	2.74% 5 YEARS FIXED	$2,074
CMLS More From CMLS	2.74% 5 YEARS FIXED	$2,074
Simplii Financial More From Simplii Financial	2.79% 5 YEARS FIXED	$2,085
First National More From First National	2.79% 5 YEARS FIXED	$2,085
CIBC More From CIBC	2.82% 5 YEARS FIXED	$2,092
BMO More From BMO	2.82% 5 YEARS FIXED	$2,092
MCAP More From MCAP	2.84% 5 YEARS FIXED	$2,097
Manulife More From Manulife	2.89% 5 YEARS FIXED	$2,108
motusbank More From motusbank	2.89% 5 YEARS FIXED	$2,108
Desjardins More From Desjardins	2.89% 5 YEARS FIXED	$2,108
Canadian Western More From Canadian Western	2.90% 5 YEARS FIXED	$2,111
RBC More From RBC	2.94% 5 YEARS FIXED	$2,120
Scotiabank More From Scotiabank	4.79% 5 YEARS FIXED	$2,576
National Bank More From National Bank	4.79% 5 YEARS FIXED	$2,576
Investors Group More From Investors Group	4.79% 5 YEARS FIXED	$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

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.