Current Halifax Mortgage Rates

The best mortgage rates in Halifax, NS from major banks, credit unions and brokers.

Today's Best Mortgage Rates in Halifax, Nova Scotia

Evaluate Halifax’s best mortgage rates in one place. You can compare the most current mortgage rates and monthly payments from 175+ banks and lenders across Nova Scotia.

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Mortgage Amount

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Rates are based on an average mortgage of $500,000 and subject to change based on filter criteria.

Lender	Insured	Insurable	Uninsured
Nesto	3.45% $2,483.17 / month	3.45% $2,483.17 / month	3.45% $2,483.17 / month
DLC Ideal Mortgage	3.75% $2,562.78 / month	3.75% $2,562.78 / month	3.75% $2,562.78 / month
Centum Clinton Wilkins	3.89% $2,600.37 / month	3.89% $2,600.37 / month	3.89% $2,600.37 / month
DLC Jim DeCoste	3.9% $2,603.07 / month	3.9% $2,603.07 / month	3.9% $2,603.07 / month
Dominion Lending Centres	3.9% $2,603.07 / month	3.9% $2,603.07 / month	3.9% $2,603.07 / month
Mortgage Centre	3.9% $2,603.07 / month	3.9% $2,603.07 / month	3.9% $2,603.07 / month
Laurentian Bank Canada	4.09% $2,654.55 / month	4.09% $2,654.55 / month	4.09% $2,654.55 / month
Simplii Financial	4.09% $2,654.55 / month	4.09% $2,654.55 / month	4.09% $2,654.55 / month
CIBC	4.19% $2,681.85 / month	4.19% $2,681.85 / month	4.19% $2,681.85 / month
Mortgage Alliance	4.19% $2,681.85 / month	4.19% $2,681.85 / month	4.19% $2,681.85 / month
Royal Bank of Canada	4.2496% $2,698.19 / month	4.2496% $2,698.19 / month	4.2496% $2,698.19 / month
First National Financial	4.3% $2,712.04 / month	4.3% $2,712.04 / month	4.3% $2,712.04 / month
TD Mortgage	4.69% $2,820.42 / month	4.69% $2,820.42 / month	4.69% $2,820.42 / month
Motusbank	4.75% $2,837.28 / month	4.75% $2,837.28 / month	4.75% $2,837.28 / month

Written By Katie Rook

Freelance writer

Updated October 19, 2026

How much down payment do you need to buy a home in Halifax?

Using a $586,000 home in Halifax as an example, the minimum down payment would be $33,600. This price is close to the average selling price of $585,650 in Halifax-Dartmouth in September 2026. The calculation follows Canadian minimum down payment requirements: 5% on the first $500,000 and 10% on the remaining $86,000.

Minimum down payment calculation: $25,000 on the first $500,000 + $8,600 on the remaining $86,000 = $33,600.

Here's how the minimum down payment compares with putting down 10% or 20% on the same home.

Down payment options on a $586,000 Halifax home

Down payment option	Down payment amount	Mortgage amount*	Mortgage default insurance
Minimum required (~5.7%)	$33,600	$552,400	Required
10%	$58,600	$527,400	Required
20%	$117,200	$468,800	Not required

*Mortgage amount shown before any mortgage default insurance premium is added.

Putting more money down reduces the amount you need to borrow. With a down payment below 20%, you'll typically need mortgage default insurance, which protects the lender if you cannot repay your mortgage. The premium can usually be added to your mortgage balance.

For this Halifax example, choosing a 20% down payment means saving $83,600 more upfront than the minimum. Your mortgage before insurance would be $468,800 instead of $552,400, and you would avoid the mortgage default insurance premium.

What should you know before getting a mortgage in Halifax?

Beyond your down payment, set aside money for Halifax's municipal deed transfer tax, legal costs and other expenses involved in completing your purchase. On a $586,000 home, the municipal deed transfer tax alone would be $8,790.

Your closing budget should account for:

Municipal deed transfer tax: Halifax Regional Municipality charges 1.5% of the property's purchase price, subject to applicable exemptions.
Legal fees and disbursements: Ask your lawyer for an itemized estimate that includes their fee, applicable taxes and expenses such as registration and title searches.
Home inspection: Get a quote based on the property and the inspection services you need.
Title insurance: Ask your lawyer whether a policy is required or recommended and whether its cost is included in your legal estimate.
Closing adjustments: You may need to reimburse the seller for prepaid expenses, such as property taxes, that cover the period after you take ownership.

Estimated Halifax deed transfer tax on a $586,000 home

The example below applies Halifax's municipal rate to the same purchase price used in the down payment section.

Purchase price	Municipal deed transfer tax rate	Estimated tax
$586,000	1.5%	$8,790

Based on Halifax's deed transfer tax rate, you would need $42,390 for the minimum down payment and municipal deed transfer tax combined: $33,600 + $8,790. Legal fees and other purchase costs would be additional.

What if you're buying from outside Nova Scotia?

Buyers who are not Nova Scotia residents may also owe the provincial non-resident deed transfer tax, in addition to the municipal tax. For agreements signed after March 31, 2025, the provincial rate is 10%, calculated on the higher of the purchase price or assessed value and applied to the ownership share transferred to non-residents.

An exemption may apply if you move to Nova Scotia and provide the required proof of residency. For property transfers on or after August 6, 2026, the province allows 12 months from the transfer to meet these requirements. Have your lawyer confirm whether you qualify before finalizing your closing budget.

Is down payment assistance available in Halifax?

Eligible first-time buyers may qualify for Nova Scotia's Down Payment Assistance Program. It provides an interest-free loan of 5% of the purchase price, repayable over 10 years. The money must go toward your down payment and cannot cover closing costs.

In Halifax Regional Municipality, the program's maximum eligible purchase price is $570,000, and household income must be less than $145,000. Applicants must also meet the program's mortgage approval, credit, residency and other requirements. The $586,000 example used above would exceed the program's purchase price limit.

What is the average mortgage amount in Halifax?

In 2025Q4, the average new mortgage in Halifax was $327,430. The Canadian average was $360,597 during the same period. The local average changed by 1.28% from the previous quarter.

The average mortgage amount in Halifax was 9.2% lower than the national average and 7.15% higher than in the same quarter a year earlier.

The local average shows what borrowers financed on average, but your mortgage amount will depend on the home’s price, your down payment and how much you qualify to borrow. It isn’t an amount you need to aim for.

Use the local average as a reference point, then work out what fits your budget:

Estimate how much you may need to borrow: Subtract your planned down payment from the price of homes you’re considering.
Check the monthly cost: Calculate payments at a few mortgage amounts and include property taxes, insurance, utilities and other homeownership costs in your budget.
Compare mortgage options: Look at rates, terms, payment flexibility and prepayment options before choosing an offer.

Average loan amount in Halifax

Period	Canada average mortgage loan	Halifax average mortgage loan	Changes from previous quarter	Change from same quarter last year
2025Q4	$360,597	$327,430	+1.28%	+7.15%
2025Q3	$360,986	$323,298	+3.60%	+3.13%
2025Q2	$350,281	$312,075	+3.46%	+4.84%
2025Q1	$356,831	$301,631	-1.30%	+5.01%
2024Q4	$343,271	$305,591	-2.51%	+6.32%
2024Q3	$349,364	$313,471	+5.31%	+4.23%
2024Q2	$332,825	$297,661	+3.63%	+9.29%
2024Q1	$323,537	$287,231	-0.07%	+7.71%
2023Q4	$327,899	$287,424	-4.43%	+3.49%
2023Q3	$338,522	$300,755	+10.42%	-1.06%
2023Q2	$314,540	$272,371	+2.14%	-8.18%
2023Q1	$320,298	$266,669	-3.98%	-5.18%
2022Q4	$325,612	$277,720	-8.64%	-1.89%
2022Q3	$363,654	$303,968	+2.48%	-
2022Q2	$371,063	$296,622	+5.47%	-
2022Q1	$368,936	$281,251	-0.64%	-
2021Q4	$355,907	$283,070	-	-

What is the average mortgage payment in Halifax?

In 2025Q4, the average mortgage payment in Halifax was $1,844, compared with the Canadian average of $2,009. The local average was 8.21% lower than the national average.

The average mortgage payment in Halifax changed by -0.38% from the previous quarter and by -0.27% compared with the same quarter a year earlier.

The table below compares average mortgage payments in Halifax with the Canadian average over time.

Period	Canada	Halifax	Quarter VS Quarter Changes	YoY Changes
2025Q4	$2,009	$1,844	-0.38%	-0.27%
2025Q3	$2,039	$1,851	1.98%	-5.37%
2025Q2	$2,006	$1,815	0.67%	-3.97%
2025Q1	$2,086	$1,803	-2.49%	-3.99%
2024Q4	$2,042	$1,849	-5.47%	-2.07%
2024Q3	$2,141	$1,956	3.49%	4.65%
2024Q2	$2,099	$1,890	0.64%	11.77%
2024Q1	$2,135	$1,878	-0.53%	11.99%
2023Q4	$2,143	$1,888	1.02%
2023Q3	$2,074	$1,869	10.53%
2023Q2	$1,920	$1,691	0.83%
2023Q1	$1,984	$1,677	-

Should you choose a fixed or variable mortgage rate?

A fixed-rate mortgage keeps the same interest rate for the length of your term. A variable-rate mortgage changes when your lender's prime rate changes. Fixed gives you payment certainty. Variable can start lower, but your costs can rise.

The Bank of Canada's policy rate is 2.25%, unchanged at its September 2, 2026 announcement. Lenders use their prime rate, currently 4.45% at major banks, as the benchmark for variable-rate mortgages. Your actual rate is set as a discount or premium to prime, so it won't match the Bank of Canada rate. The next announcement is scheduled for October 28, 2026 and could affect prime and variable mortgage pricing.

For example, using the lowest 5-year insured rates in the Rate Matrix above:

Comparison	Fixed mortgage	Variable mortgage
Starting mortgage rate	3.69%	3.45%
How the rate is set	Locked in when you sign	Prime (4.45%) minus 1.00%
What happens if the Bank of Canada raises rates?	Fixed rate stays at 3.69% for the term	Variable rate may increase
What happens if the Bank of Canada lowers rates?	Fixed rate stays at 3.69% for the term	Variable rate may decrease

Rate change example

What if rates rise by 0.50%?

If the Bank of Canada raised its policy rate by 0.50 percentage points and lenders raised prime by the same amount, prime would go from 4.45% to 4.95%. A variable rate set at prime minus 1.00% would rise from 3.45% to about 3.95%.

The example below assumes a variable-rate mortgage with payments that adjust when the interest rate changes. With a fixed-payment variable mortgage, a rate increase may instead mean more of your payment goes toward interest and less toward paying down your mortgage.

On a $500,000 mortgage with a 25-year amortization, that is roughly $2,483 per month at 3.45% and $2,617 per month at 3.95%, about $134 more each month. The 3.69% fixed rate would stay at about $2,547 per month.

The variable-rate borrower could pay more if rates rise, but could also save money if rates stay low or fall. Fixed rates don't change during the term, but you may face a different rate at renewal.

Which one suits you?

Fixed may suit you if you want predictable payments and have a tight monthly budget.
Variable may suit you if you can handle payment changes and want to benefit if rates fall.

Learn more: Fixed vs. variable mortgages. Compare today's 5-year fixed and 5-year variable rates.

This example is for illustration only. Payments are estimates. Mortgage rates vary by lender, borrower, mortgage type and eligibility.

Rates are based on an average mortgage of $500,000 and subject to change based on filter criteria.

Updated 00:28 on Oct 24, 2026

Placeholder	Insured The rates in this column apply to borrowers who have purchased mortgage default insurance. This is required when you purchase a home with less than a 20% down payment. The home must be owner-occupied and the amortization must be 25 years or less.	80% LTV The rates in this column apply to mortgage amounts between 65.01% and 80% of the property value. The home must be owner-occupied and have an amortization of 25 years or less. You must have purchased it for less than $1 million. These rates are not available on refinances. Refinances require "Uninsured" rates.	65% LTV The rates in this column apply to mortgage amounts that are 65% of the property value or less. The home must be owner-occupied and have an amortization of 25 years or less. You must have purchased it for less than $1 million. These rates are not available on refinances. Refinances require "Uninsured" rates.	Uninsured The rates in this column apply to purchases over $1 million, refinances and amortizations over 25 years. More info on the differences between insured and uninsured rates.	Bank Rate Bank Rate is the mortgage interest rate posted by the big banks in Canada.
1-year fixed rate	4.99%	4.99%	4.99%	4.99%	4.99%
2-years fixed rate	4.44%	4.29%	4.29%	4.44%	4.53%
3-years fixed rate	3.90%	3.89%	3.89%	3.90%	4.39%
4-years fixed rate	3.89%	4.19%	4.19%	4.39%	4.44%
5-years fixed rate	3.69%	3.94%	3.69%	3.69%	4.19%
7-years fixed rate	4.89%	4.89%	5.00%	4.89%	5.00%
10-years fixed rate	5.24%	5.24%	5.34%	5.24%	6.09%
3-years variable rate	3.90%	4.05%	3.90%	3.90%	5.95%
5-years variable rate	3.45%	3.70%	3.50%	3.50%	4.24%
HELOC rate	N/A	N/A	N/A	N/A	N/A
Stress Test	5.45%	5.45%	5.45%	5.50%	N/A

What happens when you renew your mortgage in Halifax?

When your mortgage term ends, you can renew with your current lender or apply to move your mortgage to another lender. For Halifax homeowners, renewal is a chance to compare rates and review whether your mortgage still fits your budget and plans.

At renewal, you can:

Stay with your current lender: Review the renewal offer and ask whether they can improve the rate or terms.
Switch mortgage lenders: Compare other offers to see whether a different lender provides a more suitable rate or mortgage features.
Review your payment options: Consider whether you want to change your payment frequency or make additional payments, subject to your lender's terms.

Start comparing offers a few months before your Halifax mortgage comes up for renewal. You don't have to accept your lender's first offer, and having competing quotes can help you negotiate.

Before switching, ask about discharge, registration, appraisal and other transfer costs, including which fees the new lender will cover. Compare those expenses with the potential savings over your next mortgage term.

If you have an eligible uninsured mortgage, switching lenders at renewal may also be simpler under OSFI's uninsured straight-switch rules. The prescribed minimum qualifying rate does not apply when a qualifying stand-alone mortgage moves between federally regulated lenders without extending the remaining amortization or increasing the loan amount, apart from a permitted allowance of up to $3,000 for transaction costs.

You still need the new lender's approval. The lender will assess your ability to repay, including your income, debts and credit history. Borrowing against your home equity is not permitted under this straight-switch exemption.

If you want to borrow additional money when your mortgage renews, discuss refinancing with your lender. Refinancing involves a separate assessment and should not be treated as a straightforward renewal or lender switch.

Read more: Mortgage Renewal Guide

How does mortgage refinancing work in Halifax?

Mortgage refinancing replaces your existing mortgage with a new one, often to borrow against your home equity, pay for renovations, consolidate debt or change your mortgage terms. Halifax homeowners can generally refinance up to 80% of their home's appraised value, subject to lender approval.

Your loan-to-value (LTV) ratio compares the amount you borrow with your home's value. Your lender may require a current appraisal and will review your income, debts and credit profile before approving the new mortgage.

How much equity could you access from a Halifax home?

For illustration, consider a Halifax home appraised at $586,000 with an existing mortgage balance of $350,000 and no other borrowing secured against it. At an 80% loan-to-value limit, the maximum new mortgage would be $468,800.

Example	Amount
Current appraised home value	$586,000
80% of home value	$468,800
Existing mortgage balance	$350,000
Potential additional borrowing before costs	Up to $118,800

In this example, refinancing could provide up to $118,800 in additional borrowing before any applicable mortgage penalties, legal fees, appraisal costs or other refinancing charges. The amount you actually qualify for will depend on your financial situation, the property valuation and your lender's requirements.

The $586,000 value and $350,000 mortgage balance are illustrative. Your lender will assess your own Halifax property and outstanding borrowing when determining how much you can access.

Considering refinancing? Compare mortgage rates in Halifax to see what rates are available.

Read more: Mortgage Refinancing Guide

Frequently asked questions about mortgages in Halifax, Nova Scotia

Does mortgage pre-approval guarantee financing for a Halifax home?

No. Mortgage pre-approval estimates how much you may be able to borrow, but it does not guarantee financing for a particular Halifax property. Your lender must still approve the home and confirm that your finances meet its requirements.

The property's appraised value, your down payment and changes to your income or debts can affect final approval. Before making an offer, ask your lender what conditions remain and discuss a financing condition with your real estate professional.

Can I qualify for a mortgage in Halifax if I'm self-employed?

Yes. Self-employed Halifax buyers can qualify for a mortgage if they meet the lender's income, credit and other borrowing requirements. You may need tax returns, notices of assessment, business financial statements or contracts to document your earnings.

Two years of business history can help demonstrate income stability, but being recently self-employed does not automatically rule you out. Some mortgage insurance options allow flexibility based on factors such as previous experience in the same field, predictable earnings and cash reserves.

Can I transfer my mortgage to another home if I move from Halifax?

You may be able to transfer, or “port,” your mortgage to another home if your contract allows it and your lender approves the new property and your application. Porting generally lets you keep your existing mortgage rate and terms, subject to the lender's conditions.

Before choosing a mortgage, ask about moving deadlines, eligible locations and what happens if your next home requires a larger loan. Confirm the conditions whether you're moving within Halifax or to another community.

Do I have to pay CMHC insurance if I put 20% down on a Halifax home?

No. Mortgage default insurance is required only when your down payment is under 20%. On a $586,000 Halifax home, a 20% down payment of $117,200 leaves a mortgage of $468,800 with no insurance premium.

With less than 20% down, the premium ranges from 2.80% to 4.00% of your mortgage, depending on your loan-to-value ratio.

Katie Rook, Freelance writer

Content Manager

Katie Rook was a content manager at Rates.ca, specializing in home insurance. She has been a full-time reporter at CTV, National Post, and The Globe and Mail. Her work has also appeared in DowJones MarketWatch, Toronto Star, Toronto Life, Saint John Telegraph-Journal and VICE. Katie is a graduate of Ryerson and Dalhousie universities.