Mortgage Rates in Prince Edward Island

Find your new home in the Garden of the Gulf.

Today's Best Mortgage Rates in Prince Edward Island

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

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Province

Rate Type

Term

Mortgage Amount

Amortization

Purpose

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

Lender	Insured	Insurable	Uninsured
Dominion Lending Centres Mortgage Excellence	3.45% $2,483.17 / month	3.65% $2,536.10 / month	3.50% $2,496.35 / month
Morra \| Mortgage Alliance	3.45% $2,483.17 / month	3.45% $2,483.17 / month	3.45% $2,483.17 / month
Pineapple Financial Inc – Kinetix Mortgages Team	3.55% $2,509.57 / month	3.65% $2,536.10 / month	3.55% $2,509.57 / month
West Capital Mortgage Ltd	3.68% $2,544.09 / month	3.70% $2,549.42 / month	3.65% $2,536.10 / month
Richards Mortgages	3.70% $2,549.42 / month	3.70% $2,549.42 / month	3.70% $2,549.42 / month
CIBC	3.73% $2,557.43 / month	3.80% $2,576.17 / month	3.80% $2,576.17 / month
ATB Financials	3.65% $2,536.10 / month	3.65% $2,536.10 / month	3.65% $2,536.10 / month
Centum Clinton Wilkins	3.89% $2,600.37 / month	3.89% $2,600.37 / month	3.89% $2,600.37 / month
Centum Home Lenders Ltd.	3.89% $2,600.37 / month	3.89% $2,600.37 / month	3.89% $2,600.37 / month
Alterna Savings	3.94% $2,613.86 / month	3.94% $2,613.86 / month	3.94% $2,613.86 / month
CIBC	4.19% $2,681.85 / month	4.19% $2,681.85 / month	4.19% $2,681.85 / month
Bayview Financial Services	4.29% $2,709.29 / month	4.29% $2,709.29 / month	4.29% $2,709.29 / month
Centum Financial Services Limited Partnerships	4.29% $2,709.29 / month	4.29% $2,709.29 / month	4.29% $2,709.29 / month
Bayview Credit Union	4.44% $2,750.71 / month	4.44% $2,750.71 / month	4.44% $2,750.71 / month
Canada Mortgage Direct	5.24% $2,976.71 / month	5.24% $2,976.71 / month	5.24% $2,976.71 / month

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

Updated 13:17 on Jun 21, 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%	3.94%	3.90%	3.90%	4.39%
4-years fixed rate	4.19%	4.24%	4.24%	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

Today's Headline

Can renovations offset falling home values in Canada?

As the real estate market fluctuates, doing minor, strategic renovations may help improve your home equity and offset falling home values.

Jun.19.2026

Written By Lubna Umar

Updated May 27, 2025

About PEI

Prince Edward Island is one of Canada's three Maritime provinces. Even though it’s the smallest Canadian province, in both land area and population (156,000), housing prices are climbing and the market is becoming increasingly competitive.

Life in PEI

The island is one of the most affordable places in the country. The average home price is roughly $275,000 (as of July 2020) – nearly $300,000 cheaper than the national average. Compared to other provinces, PEI continually has one of the highest homeownership rates in the country.

Not only will you find affordable housing, but stunning scenery and a laid-back lifestyle.

Housing market in PEI

Prince Edward Island's housing market generally consists of two types of owners: those who live on the island year round and those from out of province who own summer homes on the island.

Whatever category you fall into, the market has seen steady grown over the past year or so. PEI had the highest population growth rate in the country from 2017 to 2019. This demand has led to more houses being built here than in Newfoundland and Labrador, which is five times the size and has a much larger population.

Lubna Umar,

Lubna Umar is a former SEO Content Manager at Rates.ca. She has produced a wide variety of content, including academic essays, pieces of fiction and financial literacy guides. In her free time, she can be found exploring the caf culture in Toronto or any other major city.

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