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Find the Best Mortgage Rates in Quebec

Compare interest rates from banks, credit unions and other mortgage lenders in Quebec.

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Find the best rates in your area by selecting your province
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Quebec real estate growth

Known as” La Belle Province,” Quebec is home to 8 million predominately French-speaking inhabitants. Occupying 15.4% of the country’s total area, it is the largest province in Canada.

Every quarter, the Quebec Professional Association of Real Estate Brokers releases a statistical analysis of real estate data from the province. Results from the fourth quarter of 2019 indicate that 22,260 residential transactions took place in Quebec during that time. This represents a 19% increase in total residential sales compared to Q4 2018.

Sales increased for all residential property categories, but the greatest increase was for condominiums, which were up 22%, year-over-year. Single-family home sales increased by 17% in the same period.

In the last 12 months, total housing starts have increased, unemployment has decreased, and consumer confidence has gone up. These conditions suggest the Quebec real estate market will continue to grow.

Average home prices in Quebec

The median price of a single-family home in Quebec is $260,000, which represents a 4% increase since the same period in 2018. The average price has increased by 4% to $319,115.

Quebec condo prices have increased by 6% in the last year, and on average they sell for $310,275.

The price of plexes (two to five dwellings) increased by 7% year-over-year, and are now selling for an average price of $466,656.

Province-wide, the number of active listings decreased by 12%. This is boosting the average sale price, but residential properties in Quebec are still reasonable when compared to other major centres in Canada.

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Average single-family house prices in Quebec

As you can see in the table below, house prices vary across the province. We have included a mortgage payment for each location (based on a typically higher-than-average rate compared to what a typical, well-qualified borrower could secure), to provide an idea of what an average homeowner could expect to pay each month in mortgage payments.

Metropolitan
Area
Average
Price
Increase
or Decrease YOY
Monthly
Mortgage Payment*
Montreal $436,818 5% $1,653
Mont-Tremblant $536,228 -12% $2,030
Saint-Sauveur $318,461 2% $1,205
Quebec City $287,892 1% $1,089
Gatineau $286,646 6% $1,085
Val-d'Or $265,948 6% $1,006
Sherbrooke $283,827 17% $704
Granby $293,885 13% $1,112
Rouyn-Noranda $243,245 -2% $920
Saint-Hyacinthe $269,369 13% $1,019
Sainte-Agathe-des-Monts $295,024 -12% $1,116
Sainte-Adèle $254,860 -7% $964
Joliette $217,127 1% $822
Salaberry-de-Valleyfield $228,251 15% $864
Rivière-du-Loup $200,374 8% $758
Saguenay $182,682 2% $691
Rimouski $196,105 9% $742
Drummondville $200,835 7% $760
Sept-Îles $199,605 9% $755
Victoriaville $193,547 5% $732
Trois-Rivières $178,540 4% $675
Sorel-Tracy $177,813 4% $673
Baie-Comeau $132,206 -7% $500
Shawinigan $127,389 1% $482
Thetford Mines $130,464 8% $493

*Mortgage payment calculated using our Mortgage Payment Calculator for the average property price with a down payment of 20%, amortization period of 25 years, and a fixed mortgage rate of 3.00%.

Average house prices from Quebec Professional Association of Real Estate Brokers, Q4 2019.

House prices vary across the province, but even in Montreal (Quebec’s largest and most expensive city), they are much cheaper than comparable listings in Ontario and B.C.

Choosing the right mortgage

Buying a home in Quebec, like in any other Canadian province, requires that buyers have a good grasp of their financial capabilities. Before you start looking for a house, use our mortgage affordability calculator to see what is realistic for your budget.

The choice of mortgage type that’s right for you comes down to a careful analysis of your income, lifestyle, risk tolerance and future plans. You can take a look at these mortgage guides to understand the options available to you and use our mortgage calculators to help determine your spending power.

Once you know where you stand, use RATESDOTCA to compare the best mortgage rates in Quebec.
Bonne chance!

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