Best 5-year fixed mortgage rates in Nova Scotia.
Today’s best 5-year fixed rate in Nova Scotia is 4.19% — about $1,997/month on a $465,412 home with 20% down. A 5-year fixed is the default choice for Canadians who want a locked payment and zero rate risk for half a decade.
Who has the best 5-year fixed rate in Nova Scotia?
Pine, at 4.19%. The lowest rates are usually insured pricing.
Insured vs uninsured: the lowest 5-year fixed rates are usually insured pricing: a purchase with less than 20% down, backed by CMHC, Sagen or Canada Guaranty. Uninsured files (20%+ down, homes over $1.5M, refinances) typically price higher. APR is shown only where the lender publishes one that differs from the rate. Rates illustrative; your file (credit, income, LTV) sets your personalized rate. See all Nova Scotia rates →
What would my payment be?
About $1,997/month. That’s Nova Scotia’s average price of $465,412 with 20% down ($93,082), a $372,330 mortgage at today’s best 5-year fixed rate of 4.19%, over 25 years with Canadian semi-annual compounding. That payment is locked for the full term. Model your own price in the payment calculator.
| Term | Best rate | Est. monthly payment* |
|---|---|---|
| 5-Year Fixed | 4.19% | $1,997/mo |
| 5-Year VariableLowest | 3.00% | $1,762/mo |
| 3-Year Fixed | 4.04% | $1,967/mo |
| 3-Year Variable | 3.55% | $1,869/mo |
| 2-Year Fixed | 3.99% | $1,957/mo |
| 1-Year Fixed | 4.19% | $1,997/mo |
| 4-Year Fixed | 4.24% | $2,007/mo |
| 7-Year Fixed | 5.00% | $2,165/mo |
| 10-Year Fixed | 5.34% | $2,238/mo |
What does a 5-year fixed cost on a typical Nova Scotia home?
With the minimum down ($23,271), you pay about $2,466/month and $89,767 in interest over the 5-year term. Lenders test your income at 6.19%.
See the full 5-year cost: down payment, insurance, interest and balance
Worked on Nova Scotia’s average price of $465,412 (Nova Scotia province-wide average residential price, Nova Scotia Association of REALTORS® (via CREA)) at today’s best 5-year fixed rate of 4.19%, a 25-year amortization and Canadian semi-annual compounding. The term figures cover the 5-year term only.
| Minimum down (insured) | 20% down (uninsured) | |
|---|---|---|
| Down payment | $23,271 (5.0%) | $93,082 (20.0%) |
| Default insurance premium (added to the mortgage) | $17,686 | None |
| Mortgage amount | $459,827 | $372,330 |
| Monthly payment | $2,466/mo | $1,997/mo |
| Interest paid over the 5-year term | $89,767 | $72,686 |
| Principal repaid over the term | $58,215 | $47,138 |
| Balance owing at renewal (year 5) | $401,611 | $325,192 |
| Payment you must qualify at (6.19% stress-test rate) | $2,994/mo | $2,424/mo |
Nova Scotia Deed Transfer Tax on this price: $6,981. Paid in cash at closing, on top of the down payment.
Qualifying: lenders test your income at 6.19% (the higher of your rate + 2% or 5.25%), not at 4.19%, so the qualifying payment above is the one your income must support, together with property tax, heating and other debts. Run your own numbers in the affordability calculator.
Is a 5-year fixed right for you in Nova Scotia?
Who it suits: Buyers and renewers who value certainty above all. A fixed payment for five years makes budgeting simple and removes any exposure to Bank of Canada moves. It suits first-time buyers stretching to qualify, families on a tight monthly budget, and anyone who plans to hold the mortgage for the full term.
What drives the rate, and what breaking it costs
What drives the rate. The 5-year fixed tracks the 5-year Government of Canada bond yield plus a lender spread. When bond markets expect the economy to slow, the 5-year yield falls and these rates ease even before the Bank of Canada acts, which is why the fixed market often moves ahead of the headlines.
Breaking it early. Breaking a 5-year fixed early triggers the greater of three months' interest or the Interest Rate Differential (IRD), and at a Big-6 bank the posted-rate IRD can run into five figures, so this term rewards borrowers who will actually keep it for five years.
By a wide margin the most popular term in Canada: well over half of all fixed mortgages. You trade the chance of catching falling rates for total payment certainty.
What’s specific to Nova Scotia?
Nova Scotia has seen the strongest price growth in Atlantic Canada (driven by Ontario/BC in-migration to Halifax during 2020-2023). Halifax now sees Big-6 + monoline competition similar to mid-size Ontario markets; rural NS files often go through credit unions or alt-lenders.
Nova Scotia lenders and closing costs
Top Nova Scotia lenders to compare. Nova Scotia’s 5-year fixed pricing is shaped by a distinct lender mix: RBC, Scotiabank, TD, East Coast Credit Union, MCAP and others all bid for files here, and we shop the whole panel on one application. Foreign-buyer rules: Federal foreign-buyer ban applies through 2027. Nova Scotia's Non-Resident Provincial Deed Transfer Tax is 10% on agreements of purchase and sale signed after 31 March 2025 — doubled from the 5% that applied from 1 July 2023 — and it is very much in force rather than withdrawn. It applies to residential property of three dwelling units or fewer, including residential vacant land, on the ownership interest transferred to non-residents, calculated on the higher of price or assessed value. A non-resident individual who moves to Nova Scotia within six months is exempt, on proof of residency.
Closing costs. On top of the rate, budget for nova scotia deed transfer tax — municipal — set by each Nova Scotia municipality, and capped at 1.5% by the Municipal Government Act. Halifax Regional Municipality charges the full 1.5%, and so do most others: most municipalities charge 1.5%; some charge 1.0% or 1.25%. Confirm the rate for the specific municipality before closing — 1.5% is the norm rather than the exception. Nova Scotia does not currently offer a first-time buyer Deed Transfer Tax rebate. Run the full number in our Nova Scotia land transfer tax calculator.
Why get your Nova Scotia 5-year fixed rate through a broker?
Because 100+ lenders compete for your file instead of one. We can help you save money.
100+ lenders compete, not one
A Nova Scotia bank shows you one 5-year fixed rate sheet. We put your file in front of 100+ lenders, including RBC and Scotiabank.
Broker pricing
The rate brokers get is typically 15-30 bps below a bank's posted rate. You can't get it at a branch.
Built for Nova Scotia
Nova Scotia has seen the strongest price growth in Atlantic Canada (driven by Ontario/BC in-migration to Halifax during 2020-2023). Land transfer tax, rebates and local lender fit are built in.
Your rate held 90-120 days
A pre-approval locks your 5-year fixed rate while you shop, and many lenders honour a drop before you close.
No credit pull to start
We shop your Nova Scotia 5-year fixed rate and pre-qualify you without a hard credit check. FSRA-licensed advice in 15+ languages.
Bring us a written offer from a big bank. We’ll try to beat it. If we can’t, we pay you $500. Conditions apply. See the conditions
Whatever your situation in Nova Scotia
First home, renewal, refinance, self-employed or bruised credit: there’s a 5-year fixed path for your file, with the same 100+ lender network.
First-time buyers
5% down to your first Nova Scotia home, with FHSA + RRSP HBP optimization.
Refinancing
Tap your Nova Scotia home equity for renovations, debt consolidation, or investing.
Renewing
Don't auto-renew. Compare your bank's offer against the market.
Self-employed
Business-for-self files priced right, with A-lender, alt-A and private compared.
Bruised credit
B-lender and private paths now, with a mapped exit back to A-pricing.
New to Canada
Newcomer programs at the big banks; international credit accepted.
Nova Scotia 5-year fixed rates — FAQ
What is the best 5-year fixed mortgage rate in Nova Scotia right now?
The best 5-year fixed rate in our 100+ lender network for Nova Scotia is approximately 4.19% as of Oct 24, 2026, which is about $1,997/month on the Nova Scotia average price of $465,412 with 20% down over 25 years. Your personalized Nova Scotia rate depends on your file — income, credit, loan-to-value, and property type. We shop every lender on one application to find your lowest.
Are Nova Scotia 5-year fixed rates different from the rest of Canada?
The headline rate is set nationally, but what you can actually get in Nova Scotia differs: the provincial lender mix, Service Nova Scotia (Real Estate Registrar) regulation, and local credit unions all shape pricing and qualification. Nova Scotia has seen the strongest price growth in Atlantic Canada (driven by Ontario/BC in-migration to Halifax during 2020-2023). Halifax now sees Big-6 + monoline competition similar to mid-size Ontario markets; rural NS files often go through credit unions or alt-lenders.
Should I choose a 5-year fixed in Nova Scotia?
Buyers and renewers who value certainty above all. A fixed payment for five years makes budgeting simple and removes any exposure to Bank of Canada moves. It suits first-time buyers stretching to qualify, families on a tight monthly budget, and anyone who plans to hold the mortgage for the full term. You trade the chance of catching falling rates for total payment certainty.
How does breaking a 5-year fixed mortgage work?
Breaking a 5-year fixed early triggers the greater of three months' interest or the Interest Rate Differential (IRD), and at a Big-6 bank the posted-rate IRD can run into five figures, so this term rewards borrowers who will actually keep it for five years.
What land transfer tax will I pay in Nova Scotia?
Municipal — set by each Nova Scotia municipality, and capped at 1.5% by the Municipal Government Act. Halifax Regional Municipality charges the full 1.5%, and so do most others: most municipalities charge 1.5%; some charge 1.0% or 1.25%. Confirm the rate for the specific municipality before closing — 1.5% is the norm rather than the exception. Nova Scotia does not currently offer a first-time buyer Deed Transfer Tax rebate. Deed transfer tax in Nova Scotia is set by each municipality — confirm with your lawyer the exact rate for the municipality you're buying in.
Can I lock this Nova Scotia rate before I buy?
Yes. Most lenders offer a 90-120 day rate hold on a pre-approval, so a rising market can't catch you (and many honour a lower rate if they drop). Start a pre-approval (no bureau pull to begin) and we'll hold your best Nova Scotia 5-year fixed rate.
Lock your best Nova Scotia 5-year fixed rate.
Free, no credit pull to begin. We shop 100+ lenders and hold your rate while you shop for the home.