Would You Like to Get the Best Mortgage Rates in Winnipeg? We Are Here to Help You!

The KANETIX mortgage rate comparison service is the best resource for browsing, comparing, and securing the most affordable mortgage rates in Winnipeg, Manitoba. Although shopping for mortgage rates can be stressful and overwhelming, KANETIX is committed to simplifying the process with our all-in-one advanced comparison tool online. Without the hassle of paperwork, you will receive quotes fast and absolutely free! Therefore, you have nothing to lose and everything to gain for finding the mortgage quote that fits your needs and financial budget. KANETIX is on your side for discovering the most affordable rates available from the largest selection of mortgage lenders.

Click Here to View all Rates

If you are seeking a mortgage in Winnipeg, you have come to the right place! Just for you, we have all of the lowest mortgage rate from lenders and brokers throughout Canada to satisfy your needs.

Head over to the mortgage information centre, where you can find plenty of information to aid in your research about all things mortgage. In addition, read some recent news articles about new mortgage regulations in the Canadian housing market, tips for paying off a mortgage, or whether you should opt for a mortgage or life insurance instead. Take a trip over to the mortgage glossary for assistance with understanding the financial jargon.

What Makes KANETIX the Best?

· Most affordable and inexpensive mortgage rates in Winnipeg
· Biggest selection of mortgage brokers and lenders right at your fingertips within the comfort of your home
· Capability to obtain a mortgage guarantee certificate conveniently online
· Experienced and trained Winnipeg mortgage agents at our partner mortgage brokerages ready to help you with your search
· It is fast, secure, safe, and completely free!

What is a Winnipeg Mortgage?

Winnipeg, the capital and largest city in Manitoba, is well-known for its prospering economy, high standard of living, booming real estate market, and exceptional quality of life. As a result, many Canadians are taking advantage of the tremendous chance to call Winnipeg home when buying their first property. When purchasing a home in beautiful Winnipeg, it is necessary to obtain a mortgage to cover the cost difference between the down payment and sales price. In addition, some homeowners decide to take out more equity from their existing home for affording expenses, such as home improvements, tuition, medical bills, and debt.

In Winnipeg, mortgages can be received through a chartered bank, mortgage broker, credit union, trust company, and many other designated mortgage lenders. Mortgage rates refer to the interest that is charged for the mortgage loan. In other words, parts of the mortgage payments are applied to interest, while the rest covers the principal. The principal is the only component of the payment that is set aside to decrease the balance of the mortgage.

Most Important Information for Mortgages in Winnipeg

While low quotes are essential, they should never be the only characteristic that catches your attention when purchasing a mortgage. Make sure you take these factors in consideration when you make your decision:

· Rate hold period - the amount of time the lender will guarantee the mortgage rate. Generally, finding a mortgage with a long rate hold period is optimal, since this will offer protection from dramatic increases in costs.
· Pre-payment limitations - closed mortgages provide the capability to make yearly payments at a fixed percentage of the mortgage balance, as well as the ability to increase monthly payments by a determined percentage. When the percentage of the limits is higher, you have more versatility with your payments.
· Amortization period - time when the borrower is required to repay the mortgage fully. Some mortgage lenders and brokers will provide longer amortization periods, but the best period will highly vary depending on your personal situation.

Four Types of Winnipeg Mortgages

As a mortgage buyer in Winnipeg, you will need to understand the various types of mortgages that are offered from lenders. When shopping around for the best rate, it is also important to consider which type of mortgage will fit your needs the best. The four kinds of mortgages include:
· Variable mortgage - rates can be adjusted with the prime lending rate, which means that the rate could change throughout the term of the mortgage.
· Fixed rate mortgage - opposite of the variable mortgage, rates are set and will never change throughout the term.
· Closed mortgage - come with some payment restrictions that may lead to penalties when more than the limit is paid, although monthly payments and lump payments can be made up to a certain established percentage.
· Open mortgage - have the ability to be paid off at any given time, so only recommended when you expect to make pre-payments above what is allowed with a closed mortgage.

KANETIX has all of the most effective resources that will help guide you through your mortgage purchase process, including your first mortgage, mortgage renewal, second mortgage, or mortgage refinancing. Our Winnipeg mortgage calculator provides the opportunity to calculate your mortgage amount, rate, payment frequency, and amortization period simply. If you want to know how much interest you will be paying over the entire term of the mortgage, stop by our Winnipeg mortgage calculator to accurately measure this. The calculator can also tell you how much you can save by switching to bi-weekly or weekly payment frequencies.

So, what are you waiting for? Go ahead and get started by using our superior mortgage rate comparison service today! You are guaranteed to locate and secure the best mortgage rates, as well as get approved for a Winnipeg mortgage loan quickly. Compare all of today's most affordable Winnipeg mortgage rates from all of the top lenders and brokers in the province immediately!

Winnipeg, Manitoba General Information

  • Population: 663,617
  • Population Growth since 2006: 4.8 percent
  • Population Density: 1,430 per square mile
  • Males: 48.3 percent vs. Females: 51.7 percent
  • Population makeup: 11.7 percent Aboriginals, 8.7 percent Filipino, 3.5 percent South Asians, 2.7 percent Black, 2.3 percent Chinese
  • Median estimated age: 39.0 years
  • Median income: $26,015 CAD
  • Average residential sale price: $241,408
  • Unemployment rate: 6.3 percent

Kanetix in Winnipeg:
Winnipeg Mortgage Rates
Winnipeg Life Insurance

KANETIX's innovative mortgage rate comparison service is available Canada-wide! You can compare the best mortgage rates from top lenders and brokers in the province of Ontario, Alberta, Saskatchewan, Manitoba, New Brunswick, Nova Scotia, Newfoundland and Prince Edward Island.

WINNIPEG HOUSING TRENDS

With a population of over 730,000 residents, Winnipeg is the largest metropolitan city in Manitoba. Sitting in the heart of Canada, Winnipeg is a melting pot of cultures with dominant influences from France, England and the Philippines. The city is also economically diverse, and is known for having a large education base with a highly skilled workforce. Because Winnipeg offers so much for its residents to enjoy, many people move into the area each year, and those who live in the area often consider laying down roots with a real estate purchase. However, it is common for individuals to take a closer look at housing trends in Winnipeg before making a final buying decision. With a closer look at several important factors, individuals can make a more informed decision about their real estate plans.

Interest Rate Trends in Canada

Rising interest rates generally play a role in the real estate market by making property more expensive for buyers to purchase. It can also affect property owners' plans to refinance their existing home. The economic recession and housing challenges that plagued the United States from 2007 until recently has had a significant impact on Canada's real estate market. Just as interest rates in the United States reached historic lows for real estate mortgages for a period of time, the same was true for interest rates in Canada.

More recently, the economic recovery in the United States has trickled northward across the international border, and this economic recovery is a major contributing factor to the rise in interest rates in Canada. According to a Canada Mortgage and Housing Corporation report on the Winnipeg housing market, interest rates on mortgages are expected to increase, but slowly and gradually. CMHC projects rises in mid-2014, which should support the housing market in a slowly-recovering economy.

New Housing Starts in Winnipeg

Between 2012 and 2013, there was an approximate increase of about 3.3 percent in new housing starts. A total of about 2,200 new homes were constructed in the area in 2013. This trend in new housing starts is expected to increase, but to a lesser degree. Approximately 2,250 units are expected to be constructed in 2014, and this equates to an increase of about 2.3 percent. This slowing of new housing starts may be related in part to the anticipated rise in interest rates for 2014.

Housing Resales in Winnipeg

For the period of time between 2012 and 2013, housing resales actually decreased at a modest rate. In 2012, approximately 12,094 homes were resold, and while in 2013, only 11,800 homes were resold in Winnipeg. This represents a decline of about 2.4 percent. It is estimated that about 12,000 units will be resold in 2014, and this will equate to an increase of about 1.7 percent in 2014. In addition, there were 16,672 new listings on the market in 2012 and 16,800 new listings in 2013. This is an increase of 0.8 percent. This figure is expected to increase by about 1.8 percent for 2014. While the CMHC report indicated that "unfavorable weather conditions" at the beginning of the year may have kept buyers away, several factors may have been involved in the decline. CHMC projects that an increase in migrants to the area may provide a push for the resale market.

Housing Prices in Winnipeg

Despite the fact that home resales declined and available inventory increased between 2012 and 2013, the average price of a home in Winnipeg actually increased for this same period of time. In 2012, the average home listed on the MLS in Winnipeg was $255,058, and the average price in 2013 was $266,000. This increasing trend is expected to continue with the average price projected to be $274,300 for 2014. This increase in the average price of a home in Winnipeg may be related to more higher-end homes changing hands in the market while those in lower-end homes have been less frequently changing hands.

Employment and the Economy

Winnipeg has the economic advantage of having a vibrant and diverse economy, and because of this, it has been fairly sheltered from the economic recession that has plagued other areas of the country in recent years. Major industries here include finance, tourism, retail, and food and beverage production. There are also numerous large universities and colleges that bolster the economy. Winnipeg's population has grown considerably between 2000 and the present. Despite the tremendous growth in population, the unemployment rate during this same period of time has decreased substantially. In fact, in 2012, approximately 8,600 new jobs were created in various sectors of the economy in Winnipeg.

According to the Conference Board of Canada's "Long Term Demographic and Economic Forecast for Winnipeg CMA," the migrant population in Winnipeg is expected to bolster economic growth in the area (population growth is projected to increase by 1.2 percent per year between 2012 and 2035). The report also forecasts growth in the multi-family unit housing market thanks to an aging baby-boomer population.

A Market Analysis

Each of these factors will play a role in the price of real estate in Winnipeg as well as the supply and demand for real estate. Buyers generally want to invest in real estate when prices are low and there is less demand for real estate in the marketplace. On the other hand, sellers may find it more advantageous to sell property when prices are high and demand is high. Looking forward into 2014, real estate interest rates and the average cost of real estate in Winnipeg will both increase at moderate levels. The slight increase in resale units listed on the market and the slight increase in new home starts for 2014 is expected to be in line with the modest population growth that is anticipated for this same period of time. Because of this, those who are interested in buying real estate may consider the benefits of doing so sooner while interest rates and real estate prices in Winnipeg remain lower.


Kanetix Mortgage App

Buying a home? The KANETIX Mortgage App helps you tally the numbers that count when it comes to home ownership.
  • Affordability calculator: work out how much of a mortgage you can carry.
  • Mortgage calculator: easily calculate your mortgage payments.
  • Mortgage rates: compare and call to secure fixed and variable mortgage rates.

Reminders & savings

Sign up for our free mortgage and insurance Renewal Reminder service or Newsletter for the latest news and money saving tips.

Email address