Prince Edward Island mortgage rates.
Smallest provincial market with strong out-of-province in-migration since 2020, pushing Charlottetown prices materially upward. Tourism and retirement economy.
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Prince Edward Island rates by term
Compare the best Prince Edward Island rate for each term — fixed and variable.
PEI has thin lender competition — Big-6 + monolines plus Provincial Credit Union dominate. Tourism-economy short-term-rental investor files have become common since 2020 (especially in Charlottetown and the North Shore).
Foreign-buyer rules: Federal foreign-buyer ban applies through 2027. PEI separately requires non-resident buyer approval for properties exceeding 5 acres or shore frontage greater than 165 feet (Lands Protection Act).
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Today’s rate read · Prince Edward Island
AI-generated from the live board · live feed · as of 2026-08-19T05:06:01.874Z
The best 5-year fixed mortgage rate in Prince Edward Island is currently 4.29%, while the best 5-year variable rate is available at 3.60%, indicating that fixed rates are 69 basis points higher than variable rates. The lender's prime rate is set at 5.95% and the Bank of Canada's overnight rate is at 4.25%, suggesting a downward trend in borrowing costs from the central bank.
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