Best 5-year fixed mortgage rates in Newfoundland and Labrador.
Today’s best 5-year fixed rate in Newfoundland and Labrador is 4.19%. We compare 5-year fixed rates across 50+ Canadian lenders for Newfoundland and Labrador and lock your best on one application — no bureau pull to start.
The best 5-year fixed rate in Newfoundland and Labrador today is approximately 4.19% — about $1,480/month on Newfoundland and Labrador’s benchmark price of $345,000 with 20% down over a 25-year amortization. A 5-year fixed is the default choice for Canadians who want a locked payment and zero rate risk for half a decade. NL has thinner lender competition than larger provinces — Big-6 + monolines plus NL Credit Union dominate.
Rates illustrative; your file (credit, income, LTV) sets your personalized rate. See all Newfoundland and Labrador rates →
Newfoundland and Labrador mortgage payments by term
| Term | Best rate | Est. monthly payment* |
|---|---|---|
| 5-Year Fixed | 4.19% | $1,480/mo |
| 5-Year VariableLowest | 3.60% | $1,393/mo |
| 3-Year Fixed | 4.19% | $1,480/mo |
| 3-Year Variable | 3.65% | $1,400/mo |
| 2-Year Fixed | 4.14% | $1,473/mo |
| 1-Year Fixed | 4.69% | $1,557/mo |
| 4-Year Fixed | 4.29% | $1,496/mo |
| 7-Year Fixed | 5.10% | $1,621/mo |
| 10-Year Fixed | 5.34% | $1,659/mo |
Is a 5-year fixed right for you in Newfoundland and Labrador?
Who it suits. Buyers and renewers who value certainty above all — a fixed payment for five years makes budgeting effortless 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. 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 Newfoundland and Labrador
The Newfoundland and Labrador rate market. NL has thinner lender competition than larger provinces — Big-6 + monolines plus NL Credit Union dominate. Offshore-worker income files (oil platform workers, marine sector) are common and require lenders that handle rotational schedules and overseas income properly.
Top Newfoundland and Labrador lenders to compare. Newfoundland and Labrador’s 5-year fixed pricing is shaped by a distinct lender mix — RBC, Scotiabank, TD, Newfoundland and Labrador Credit Union, MCAP and others all bid for files here, and we shop the whole panel on one application.
Closing costs. On top of the rate, budget for nl registration fees (no ltt) — newfoundland and Labrador does not charge a Land Transfer Tax. Closing costs include a Document Registration Fee (~$100 + $0.40 per $100 of value over $500) — typically $1,500-$2,500 total. Run the full number in our Newfoundland and Labrador land transfer tax calculator.
A worked example for Newfoundland and Labrador
On Newfoundland and Labrador’s benchmark price of $345,000 with 20% down ($69,000), the mortgage is $276,000. At today’s best 5-year fixed rate of 4.19% over a 25-year amortization, that’s about $1,480/month using Canadian semi-annual compounding. That payment is locked for the full term. Model your own price in the payment calculator.
Whatever your situation in Newfoundland and Labrador
First home, renewal, refinance, self-employed or bruised credit — there's a 5-year fixed path for your file, with the same 50+ lender network.
First-time buyers
5% down to your first Newfoundland and Labrador home, with FHSA + RRSP HBP optimization.
Refinancing
Unlock Newfoundland and Labrador equity for renovations, debt consolidation, or investing.
Renewing
Don't auto-renew — most clients beat their bank's first offer by 30-60 bps.
Self-employed
Business-for-self files priced right — 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.
6 reasons to lock your Newfoundland and Labrador 5-year fixed rate through a broker
Why Newfoundland and Labrador borrowers shop the whole market instead of signing their bank's first 5-year fixed offer.
50+ lenders compete — not one
A Newfoundland and Labrador bank shows you a single 5-year fixed rate sheet. We put your file in front of 50+ lenders who bid for it, then pass on the volume pricing we hold as a brokerage.
Broker-channel pricing
The wholesale rate brokers access is typically 15-30 bps below a bank's posted rate — you can't get it walking into a branch.
Built for the Newfoundland and Labrador market
NL has thinner lender competition than larger provinces — Big-6 + monolines plus NL Credit Union dominate.
Your rate held 90-120 days
A pre-approval locks today's 5-year fixed rate while you shop — and many lenders honour a drop if rates fall before you close.
No bureau pull to start
We can shop your Newfoundland and Labrador 5-year fixed rate and pre-qualify you without a hard credit check, so comparing costs you nothing.
Best-rate guarantee
We'll beat any comparable Big-6 5-year fixed offer or pay you $500 — and our advice is free, because the lender pays our commission on funding.
Why shop your Newfoundland and Labrador 5-year fixed rate with us
- 50+ lenders on one application — banks, monolines, and Newfoundland and Labrador credit unions like RBC and Scotiabank.
- Broker-channel rates 15-30 bps below posted, only a brokerage can access.
- Newfoundland and Labrador-specific guidance — land transfer tax, rebates, and local lender fit built in.
- FSRA-licensed advice in 50+ languages, online or in person.