PEI Mortgage Rates.

As of July 29th, 2021

I am looking to get rates for:

Lender	Rate	Monthly Payment

Citadel Mortgages	1.58% 5 YEARS FIXED	$1,817
Equitable	1.99% 5 YEARS FIXED	$1,905
Mortgage Alliance	1.99% 5 YEARS FIXED	$1,905
Dominion Lending	2.09% 5 YEARS FIXED	$1,927
First National	2.09% 5 YEARS FIXED	$1,927
motusbank	2.09% 5 YEARS FIXED	$1,927
Mortgage Architects	2.09% 5 YEARS FIXED	$1,927
Laurentian	2.09% 5 YEARS FIXED	$1,927
Canada Life	2.10% 5 YEARS FIXED	$1,929
Tangerine	2.14% 5 YEARS FIXED	$1,938
Canadian Western	2.16% 5 YEARS FIXED	$1,943
HSBC	2.24% 5 YEARS FIXED	$1,960
Simplii Financial	2.24% 5 YEARS FIXED	$1,960
MCAP	2.34% 5 YEARS FIXED	$1,983
TD	2.34% 5 YEARS FIXED	$1,983
BMO	2.34% 5 YEARS FIXED	$1,983
CIBC	2.37% 5 YEARS FIXED	$1,989
Meridian	2.39% 5 YEARS FIXED	$1,994
National Bank	2.44% 5 YEARS FIXED	$2,005
CMLS	2.44% 5 YEARS FIXED	$2,005
Manulife	2.49% 5 YEARS FIXED	$2,017
RBC	2.49% 5 YEARS FIXED	$2,017
Scotiabank	2.49% 5 YEARS FIXED	$2,017
Desjardins	2.49% 5 YEARS FIXED	$2,017
Investors Group	4.79% 5 YEARS FIXED	$2,576

These rates are for Prime customers. To qualify, you generally need a good credit score and a steady job. The following rates may not be valid for insured mortgages. Rates updated on 2021-07-29

Prince Edward Island at a Glance

Prince Edward Island is Canada’s smallest province, but it is also Canada’s most densely populated province.

Prince Edward Island is Canada’s smallest province, but it is also Canada’s most densely populated province. Apart from the main island, PEI also includes 231 minor islands. Over 90% of all jobs created in the province from 2008 to 2015 was located in the province’s capital city, Charlottetown. Summerside is the only other city on the island, with towns including Stratford, Three Rivers, and Cornwall. The average price of a home in PEI reached its highest level ever in October 2020, at $298,668. This was a 19.6% increase in home prices over October 2019.

All of Canada’s Five Big Banks, RBC, TD, Scotiabank, BMO, and CIBC, have bank branches located in PEI. Scotiabank has the highest number of branches at seven, followed by CIBC with six branches.

There are seven credit unions based in PEI. These are: Consolidated Credit Union, Evangeline-Central Credit Union, Malpeque Bay Credit Union, Morell Credit Union, Provincial Credit Union, Souris Credit Union, and Tignish Credit Union. All seven of these credit unions offer residential mortgages.

Mortgage Brokers

Prince Edward Island does not have any mortgage broker regulations. Instead, mortgage brokers are licensed as real estate agents under PEI’s Real Estate Trading Act and Regulations. Real estate agents and brokers are licensed by the Prince Edward Island Real Estate Association.

National mortgage brokers all operate in PEI, such as Dominion Lending Centres, Invis, The Mortgage Centre, and Mortgage Architects. Local mortgage brokers include Premiere Mortgage PEI and Mortgage Broker Store.

This calculator is provided for general information purposes only. WOWA does not guarantee the accuracy of the information shown and is not responsible for any consequence that arise from the use of the calculator and its results. Any financing products shown are subject to terms and conditions and may not be available in certain regions.