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Housing Market
Current Prince George
Average Home Price
Volume
Loans Processed this Month
Flexibility Index
Rising prices and steady months of inventory (about 4.8 months) indicate a market that is balanced but tightening slightly.
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Prince George
MARKET
INSIGHTS
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Rate Forecast
The 8-month outlook shows 5-year fixed rates around 3.85%, with potential dips before returning to stabilize near this level.
Rate Movement
Two Bank of Canada rate cuts totaling 0.50% are anticipated in the next 12 months, likely providing relief for borrowers and supporting lower fixed-rate mortgages.
Housing Market
The average home sale price in Prince George was $470,919 in July 2025, up approximately 10.5% compared to July 2024.
Forecasted Rate Cuts
Q3 2025
1 CUT
Projected
Q4 2025
1 CUT
Projected
Q1 2026
0 CUT
Projected
Q2 2026
0 CUT
Projected
Next BOC rate cut expected in Q3 2025, with a current market probability of over 70%. Only rate cuts with a likelihood of 70% or higher are displayed.
Fixed Rates
Easing bond yields are nudging fixed mortgage rates down.
Variable Rates
Prime discounts continue to widen, signaling relief for variable-rate borrowers.
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Prince GeorgeMORTGAGE RATES
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Prince George’s Best 5-Year Fixed Mortgage Rates
A 5-year fixed mortgage keeps your payment the same no matter where interest rates go. It's ideal if you want the security of knowing exactly what you'll pay each month while settling down in Prince George and area, which includes the communities of Mackenzie, Valemount and McBride in the Fraser–Fort George Regional District. We compare rates from more than 97 lenders across BC, from big banks to local credit unions and online brokers. If a steady payment helps you sleep at night, a fixed rate brings peace of mind. This means that for the next 5 years, your mortgage payments will remain constant, providing you with financial stability and predictability.
Prince George’s Best 3-Year Fixed Mortgage Rates
If you anticipate a move, a refinance, or believe that rates may decrease in a few years, a 3-year fixed mortgage could be a better fit. You lock in payments for 36 months but retain the option to renegotiate sooner. We gather the latest offers from dozens of lenders serving the Fraser–Fort George region. For buyers who want some security but not a long-term commitment, a 3-year term offers the perfect balance and flexibility.
Prince George’s Best Variable Mortgage Rates
Variable-rate mortgages, which rise and fall with prime rates, offer the potential for savings if rates decrease. While payments might change, this option provides a level of financial flexibility. A variable rate could save you money if rates drift lower. We track variable offerings from nearly 100 lenders, including banks, credit unions and online providers. If you're financially flexible or planning to hold your home only a few years, a variable rate can be a smart and exciting play for your finances.
Who Offers Mortgages in Prince George and Area?
Whether you're buying your first home, refinancing or investing, knowing who lends locally helps you find a better deal. In Prince George and across the Fraser–Fort George region, your main options are banks, credit unions, mortgage brokers and private lenders. Here's how they compare:
Local Credit Unions
The Fraser–Fort George Regional District is home to several credit unions, including Integris Credit Union, Interior Savings, Lake View Credit Union, Williams Lake and District Credit Union and Bulkley Valley Credit Union. Credit unions focus on members and often provide personalized service. For long-time residents, their rates can be competitive.
Mortgage Brokers in Prince George
Brokers work for you, not the lenders. They search multiple lenders to find terms that fit your needs. Well-known brokers in Prince George include The Mortgage Group, True North Mortgage, Dominion Lending Centres, Citadel Mortgages, Tekamar Mortgage Fund, Invis, Perch and Nesto. Brokers are invaluable if you're a first-time buyer or have a complex financial situation.
Alternative and Private Lenders
If traditional lenders can't meet your needs, maybe your credit isn't perfect or your income varies—private lenders offer more flexible terms. Rates are higher, but conditions can be tailored. A local mortgage broker can help you navigate these options.
How to Choose the Right Lender
Start by understanding your budget, your credit and your comfort level with payments. Compare rates and lender reputation. Tools like EveryRate.ca make comparisons easier. Don't forget customer reviews; they give insight into service quality.
Prince George and Area Housing Trends (July 2025)
The real estate market in Prince George and area remains balanced, with steady sales and moderate price growth. July 2025 data show that Northern B.C. home sales totalled 452 units, a 6.6 percent increase from July 2024. Year-to-date sales through the BC Northern Real Estate Board reached 2,466 transactions, up about 3.1 percent over the same period last year. Economist Amrit Sidhu of the B.C. Real Estate Association notes that Northern markets are among the most resilient in the province, thanks to relative affordability.
The average home price across Northern B.C. was $470,919, up 10.5 percent compared with a year earlier. In Prince George itself, detached homes sold for an average of $531,595 in July 2025. Within the city, median sale prices vary by quadrant: the west side saw 114 single-family homes sell with a median price of $468,000; east of the bypass, 81 homes sold with a median price of $402,000; the north recorded 86 sales at a median $591,500; and the southwest led the way with 120 sales and a median price of $604,000.
Inventory remains healthy, with around 711 properties of all types available through the MLS in Prince George. Moderating interest rates under 5% continue to support buyer confidence. Combined with improved inventory and steady sales, the market looks balanced for the rest of 2025.
Regional Snapshot: Mackenzie, Valemount and McBride
- Mackenzie: Median list price about $87,356 in July 2025, down 5.95% from June. Homes take over 1,300 days on average to sell.
- Valemount: Median list price around $369,355, down 5.71% month-over-month. Homes average 110 days on market.
- McBride: Median list price about $376,758 in July 2025, down 12.89% from June. Just 10 homes on the market.
Neighbourhood Spotlight
- Downtown Prince George: Walkable, vibrant core.
- College Heights: Family-friendly with schools and amenities.
- Hart Highlands: Larger lots, close to outdoor recreation.
- PG Rural North: Lakeside living with space.
- Mackenzie: Affordable homes in a small town north of PG.
- Valemount: Scenic village near the Rockies.
- McBride: Rural charm, small-town community.
What Does This Mean for You?
If you're buying, now is favourable: rates under 5%, steady sales, and manageable prices. Detached homes in Prince George averaged about $531,595 in July 2025, while the regional average was $470,919. Communities like Mackenzie, Valemount and McBride offer entry points under $400K.
If you're selling, demand is steady but price growth is modest. Homes in high-demand areas sold between $468,000 and $604,000 in Q2 2025. Competitive pricing matters.
Prince George Mortgages: Understanding Down Payments and Monthly Payments
- Up to $500,000: 5%
- $500,001 to $999,999: 5% on first $500,000 + 10% remainder
- $1M+: 20% minimum
Example: Home price $482,748 → 5% down = $24,137. Less than 20% down requires mortgage insurance. EveryRate.ca helps you compare 97+ lenders across Prince George and the Fraser–Fort George region.