PRINCE EDWARD ISLAND RATES

Compare Prince Edward Island mortgage rates

Explore mortgage rates, terms, and lender options for Charlottetown and communities across Prince Edward Island.

Rates are current as of Prince Edward Island
Compare PEI Rates

Waiting for the right mortgage rate? Create a RateBuddy alert and we’ll notify you when rates reach your target or a strong mortgage match becomes available.

Mortgage rate information for Prince Edward Island

Canada's smallest province offers a unique quality of life. Whether you're buying in Charlottetown or a quiet rural area, a great mortgage rate is a great start. See the top rates available for Islanders right here.

Compare current fixed and variable mortgage options for Prince Edward Island, then review estimated payments, term length, prepayment privileges, penalties, qualification requirements and property eligibility. The lowest advertised rate is not automatically the lowest-cost or most flexible mortgage for every borrower.

Compare Current Mortgage Rates in Prince Edward Island

Live as of: August 17, 2026 | Prince Edward Island

Customize your mortgage scenario

Adjust the purchase price, down payment, amortization, and payment frequency to see how your estimated mortgage payments change across the rate options below.

$
$
%
Yrs
Tip: Use the filter to compare payment impact quickly. Even a small rate difference can change your estimated payment and total interest over time.
We guarantee your best rate or we will give you $500! Save thousands with our volume-discounted rates.
True North Mortgage Inc
Interest rate
2.49 %
6 Months Fixed
6-Month Fixed Closed
Payment & interest estimate
Est. Monthly Payment $1,792
Interest in 5 years $46,119
Interest over 6 Months $4,950
Commission-free mortgage experts providing honest advice and competitive rates through a 100% digital, transparent process.
Nesto
Interest rate
3.40 %
5 Years Variable
5 Year Variable Mortgage
Payment & interest estimate
Est. Monthly Payment $1,981
Interest in 5 years $63,506
We guarantee your best rate or we will give you $500! Save thousands with our volume-discounted rates.
True North Mortgage Inc
Interest rate
3.49 %
5 Years Variable
5-Year Variable Closed
Payment & interest estimate
Est. Monthly Payment $2,000
Interest in 5 years $65,239
nesto provides you with the best available locking period in the mortgage industry (150 Days).
Nesto
Interest rate
3.57 %
5 Years Variable
5 Year Variable Mortgage (150 Day Lock)
Payment & interest estimate
Est. Monthly Payment $2,018
Interest in 5 years $66,781
Equitable Bank offers flexible mortgage solutions with competitive rates, designed to help you achieve your homeownership goals.
EQ Bank
Interest rate
3.60 %
5 Years Variable
5 Year Adjustable Mortgage - Evolution Suite
Payment & interest estimate
Est. Monthly Payment $2,024
Interest in 5 years $67,359
Marathon Mortgage
Interest rate
3.60 %
5 Years Variable
5-years Variable Closed High Ratio
Payment & interest estimate
Est. Monthly Payment $2,024
Interest in 5 years $67,359
Commission-free mortgage experts providing honest advice and competitive rates through a 100% digital, transparent process.
Nesto
Interest rate
3.60 %
3 Years Variable
3 Year Variable Mortgage
Payment & interest estimate
Est. Monthly Payment $2,024
Interest in 5 years $67,359
Interest over 3 Years $41,588
Marathon Mortgage
Interest rate
3.64 %
6 Months Fixed
6-Month Fixed Closed
Payment & interest estimate
Est. Monthly Payment $2,033
Interest in 5 years $68,132
Interest over 6 Months $7,243
We guarantee your best rate or we will give you $500! Save thousands with our volume-discounted rates.
True North Mortgage Inc
Interest rate
4.14 %
5 Years Fixed
5 Year Fixed Mortgage
Payment & interest estimate
Est. Monthly Payment $2,142
Interest in 5 years $77,818
Updating rates...
RateBuddy Mortgage Rate Alert

Waiting for the right mortgage rate?

Tell RateBuddy what you are watching. We’ll notify you when rates reach your target, drop meaningfully, or when a matching mortgage option becomes available.

Free RateBuddy account No credit check Unsubscribe anytime
Mortgage rates across Canada

Explore rates by province and city

Find national mortgage offers and rates available in your province, then explore a page designed for your local market.

7 markets
View all Alberta mortgage rates
10 markets
View all British Columbia mortgage rates
2 markets
View all Manitoba mortgage rates
3 markets
View all New Brunswick mortgage rates
2 markets
View all Newfoundland and Labrador mortgage rates
2 markets
View all Nova Scotia mortgage rates
18 markets
View all Ontario mortgage rates
PE Prince Edward Island
2 markets
9 markets
View all Quebec mortgage rates
3 markets
View all Saskatchewan mortgage rates
NORTH Northern Canada
3 markets
Browse the complete Canadian locations hub

Start with a province, territory or major Canadian mortgage market.

View all locations
Rates by lender

Compare mortgage rates by provider

Explore mortgage rate information from major Canadian banks, regional institutions and credit unions. Compare more than the advertised rate before choosing a provider.

How these rates are selected

Mortgage options available across Prince Edward Island

RateBuddy displays national mortgage options and products available to borrowers in Prince Edward Island. Actual rates, lender availability, qualification, and approval depend on the borrower, property, mortgage purpose, and lender requirements.

Compare rates in another province
Financial Toolkit

Crunch the Numbers

Make smarter decisions with our suite of free Canadian financial calculators.

Mortgage

Payment Calculator

Estimate monthly payments based on rate and term.

Start Calculating
Mortgage

Affordability

Calculate the maximum home price you can afford.

Start Calculating
Buying

Land Transfer Tax

Calculate provincial taxes and first-time rebates.

Start Calculating
Investing

Compound Interest

Visualize how your investments grow over time.

Start Calculating
Investing

TFSA Calculator

Project your tax-free savings growth potential.

Start Calculating
Debt

Debt Consolidation

See how much you save by combining debts.

Start Calculating
Debt

Payoff Planner

Model strategies to become debt-free faster.

Start Calculating
Planning

Budget Planner

Track income and allocate funds to your goals.

Start Calculating
View All Calculators
Market Dynamics

Understanding Rates in Prince Edward Island

Mortgage rates in Prince Edward Island are driven by two main forces: Bond Yields (Fixed) and Central Bank Policy (Variable).

Variable: Floating
Fixed: Bond Driven

Bank of Canada Impact

Variable rates in Prince Edward Island are directly linked to the Prime Rate. If the economy slows, rates often drop to stimulate growth—saving you money immediately.

The "Spread" Strategy

Smart borrowers in Prince Edward Island watch the gap between Fixed and Variable. When fixed rates dip lower than variable, it is often a signal to lock in stability.

Hidden Costs of Buying in Prince Edward Island

Beyond the mortgage rate, ensure you budget for these closing items.

Land Transfer Tax

Prince Edward Island charges a provincial tax based on the property value. First-time buyers may get a rebate.

Legal Fees

Expect to pay between $800 and $1,500 for a lawyer in Prince Edward Island to handle the title transfer and mortgage registration.

Appraisal

Lenders in Prince Edward Island may require a professional appraisal ($300-$500) to confirm the home's value matches the loan.

Prince Edward Island Mortgage Hack

Maximize Your Pre-Payment Privileges

Did you know? Most lenders in Prince Edward Island allow you to pay down 10-20% of your mortgage annually without penalty.

Reduce Interest Costs
Shorten Amortization
Build Equity Faster
Calculate Savings
Find your mortgage path

Explore mortgage options based on what matters to you

Compare rates by structure, mortgage goal, term and market scenario without navigating through an oversized menu.

Advanced mortgage tools

Explore more ways to plan your mortgage

Compare borrowing strategies, test qualification scenarios and understand the longer-term financial impact of your mortgage decisions.

Explore all financial calculators
Provincial mortgage guidance

Mortgage questions about Prince Edward Island

A competitive mortgage rate depends on current market conditions, the mortgage term, fixed or variable structure, down payment, property, credit profile, and lender requirements. Compare the available options on this page together with their terms, restrictions, and estimated payments.

Many national lenders offer similar core pricing across Canada, but product availability, provincial eligibility, local credit unions, and lender-specific programs can differ in Prince Edward Island. The rates shown here are selected using availability for the province.

Compare prepayment privileges, penalties, portability, mortgage type, term length, payment flexibility, fees, and qualification requirements. A slightly higher rate may provide better flexibility or lower costs if your plans change.

A down payment below 20% generally requires mortgage default insurance, while a down payment of 20% or more usually creates a conventional mortgage. The down payment can affect available rates, amortization choices, insurance costs, and lender eligibility.

Available rates and terms can differ depending on whether you are purchasing, renewing, refinancing, or switching lenders. Use the filters to estimate payments, then review the product details and lender requirements for your specific mortgage purpose.

Closing costs can include provincial or municipal transfer charges, land-title or deed registration, legal or notary services, appraisal and inspection costs, title insurance, property-tax adjustments, home insurance, and moving expenses. The amounts and available exemptions depend on the property and transaction, so confirm them with the appropriate provincial authority and your legal professional before closing.

A mortgage pre-approval can help establish a working budget and may hold a rate for a limited period, but it is not a final approval. The lender must still review the selected property, updated income and debt information, down payment, credit profile, and all supporting documents.

Prince Edward Island generally charges Real Property Transfer Tax when a deed is registered unless an exemption applies. The calculation uses the rules in effect for the transaction, so confirm the current amount and any first-time buyer eligibility before closing.
Tools and guidance

Plan your next mortgage decision

Estimate payments, test affordability, understand mortgage costs and explore practical guidance before taking your next step.

Explore all financial calculators