- Closing costs in Manitoba: Manitoba land transfer tax is marginal: 0% to $30,000, 0.
- The federal stress test and down payment rules apply in every province.
- Mortgage brokers are registered with the Manitoba Financial Services Agency.
What are today's best mortgage rates in Manitoba?
| Term | Rate | Lender type | Shelf / note | Payment on $400,000 |
|---|---|---|---|---|
| 5-year fixed | 4.04% | Credit union | uninsured | $2,113/mo |
| 5-year variable | 3.70% | Brokerage | prime − 0.75% | $2,046/mo |
| 3-year fixed | 4.19% | Monoline | uninsured | $2,145/mo |
| HELOC | 4.95% | Bank | prime + 0.50% | — |
Payments on a $400,000 mortgage, 25-year amortization, fixed rates compounded semi-annually. Prime 4.45% (Bank of Canada policy rate 2.25%), October 7, 2026.
Who lends in Manitoba?
What does it cost to close in Manitoba?
Manitoba land transfer tax is marginal: 0% to $30,000, 0.5% to $90,000, 1% to $150,000, 1.5% to $200,000 and 2% above.
| Item | Amount |
|---|---|
| Transfer tax / registration fees (incl. mortgage fee where charged) | $5,650 |
| Effective rate | 1.41% |
Mortgage registration estimated at 80% of price where charged. Rules checked October 7, 2026.
Mortgage rules in Manitoba
Mortgage brokers are registered with the Manitoba Financial Services Agency. National rules apply everywhere: minimum down payment of 5% to 20%, the stress test (the greater of your rate + 2% or 5.25%), and insured mortgages only on homes under $1.5 million.
HELOC in Manitoba
Manitoba homeowners can get a HELOC up to 65% of value, or 80% combined with a mortgage. Bids show the rate as prime plus a margin. See HELOC.
First-time home buyer programs in Manitoba
Federal FHSA, Home Buyers' Plan and new-home GST rebate; check Manitoba Finance for current provincial relief. First-time home buyer programs in Manitoba
Mortgage rates by city in Manitoba
Frequently asked questions
Are mortgage rates different in Manitoba?
Most national lenders price provinces similarly; differences come from which lenders serve the area, property type and local closing costs.
Do I need a mortgage broker in Manitoba?
Not to get bids. Licensed brokerages bid alongside lenders on MortgageBids.ca.
Can I renew with a different lender in Manitoba?
Yes, at maturity with no prepayment penalty.
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