Trending Mortgage Options
Lowest Rates
Housing Market
Current Saskatchewan
Average Home Price
Volume
Loans Processed this Month
Flexibility Index
Low months of supply and record sales give sellers the advantage.
Market Share
Saskatchewan
MARKET
INSIGHTS
No need to call multiple brokers or fill out countless applications.
We aggregated everything for you in one place.
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
Saskatchewan's benchmark home price reached about $372,700 in July 2025, roughly 8% higher than the same month last year.
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.
Top 20Top 20
SaskatchewanMORTGAGE RATES
Customize your rate research playing field
Saskatchewan’s Best 5-Year Fixed Mortgage Rates
Shopping for a 5‑year fixed in SK? You'll generally find rates in the high 3% to low 4% range right now. For example, Affinity Credit Union advertises a 5‑year fixed (insured) at about 3.99%. In practice, many lenders quote rates just over 4%, often ranging from 4.0% to 4.2%. In fact, mortgage brokers note that fixed rates have been creeping up recently. As of early June 2025, many 5-year offers were "north of 4.1%." In short, the absolute top deals (usually available at credit unions or through broker channels) are typically just under 4%, while big banks and typical lenders offer rates around 4.1–4.3%.
Saskatchewan’s Best 3-Year Fixed Mortgage Rates
Three-year fixed rates in Saskatchewan are holding steady, offering a sense of stability to potential homebuyers. Currently, the best 3-year rates sit around the 4.0–4.2% range. For instance, Conexus Credit Union's top 3‑year fixed (insured) is about 4.04%. In general, you can expect average 3‑year offers in the low 4's.
Saskatchewan’s Best Variable Mortgage Rates
Variable-rate (prime-linked) offers are currently in the 4.0–4.2% range. The Bank of Canada's prime lending rate is currently 4.95%. Many lenders price their 5-year variable terms around prime minus a percentage point or two. For example, Equitable Bank's top 5-year variable (insured) rate is ~4.20%, which aligns with brokers stating that "lowest variable offers remain around 4%." In short, the cheapest variable deals hover in the low-4s, while standard prime mortgages (from the big banks) are closer to 4.95%.
2025 Mortgage Rate Forecast in Saskatchewan
As of June 2025, the Bank of Canada's overnight policy rate is 2.75%, and Governor Macklem held it there in the June 4 announcement. That translates to a prime rate of 4.95% across Canada, so Saskatchewan borrowers can expect variable rates around 4.95%–5.25%.
Fixed rates are reacting to bond yields, which rose slightly in May 2025. Many broker-quoted 5-year fixed rates are just above 4.1%, with the very best offers dipping to about 3.99%. Most borrowers are seeing rates between 4.1% and 4.3%.
Saskatchewan Housing Trends: What You Need to Know
Saskatchewan's housing market remains strong despite a national cooling. In May 2025, there were about 1,750 sales — slightly below last year's record but well above the long-term average. Inventory is tight, with only 2.1 months of supply available.
The benchmark home price hit $369,500 in May 2025 — an 8–9% year-over-year gain. Saskatoon led the way with an average price of $438,000 (+14% YOY), Regina stayed steady at $339,000, and Prince Albert saw 12% growth to $285,000.
Construction is surging to meet demand. Urban housing starts rose 108.6% year-to-date (Jan–May 2025) compared to last year, with May alone seeing a 205.9% jump, driven by multi-family builds.
Key Stats (May 2025)
- Sales: 1,750 (down 3% from April, up 8% YOY)
- New Listings: 2,200 (up 15% from April)
- Inventory: 2.1 months of supply
- Average Price: $369,500 (+8.5% YOY)
- Days on Market: 28 (down from 35 last year)
- Housing Starts: 205.9% increase in May alone
Down Payment Requirements in Saskatchewan
In Saskatchewan, you need at least 5% down, and 20% to avoid mortgage insurance. Based on May 2025 prices, that works out to:
- 5% down: $18,475 on a $369,500 home
- 20% down: $73,900 on a $369,500 home
If you can't reach 20%, you'll need mortgage default insurance from CMHC, Sagen, or Canada Guaranty. In a rising market, keep in mind your down payment target may need to adjust quickly.
First-Time Home Buyer Programs in Saskatchewan
Saskatchewan offers several programs to help first-time buyers:
- Homeownership Program: Provides down payment assistance up to $15,000
- First-Time Home Buyer Tax Credit: Federal program offering up to $1,500 in tax savings
- RRSP Home Buyers' Plan: Withdraw up to $35,000 from RRSPs tax-free
Municipal grants are limited, and Saskatchewan doesn't offer provincial rebates like BC or Ontario. The Métis grant and provincial tax credit are the main provincial supports.
Additional Costs When Buying a Home in Saskatchewan
Beyond your down payment, budget for these additional costs:
- Legal fees: $1,500–$2,500
- Title insurance: $200–$400
- Home inspection: $400–$600
- Appraisal: $300–$500 (if required)
Land Transfer Tax
Saskatchewan doesn't have a land transfer tax. Instead, the Land Titles Registry charges:
- Registration fee: $50–$200 depending on property value
- Mortgage registration: $50–$200
- Title search: $25–$50
On a $400,000 home, closing costs are typically $4,000–$5,000. There are no first-time buyer rebates on these fees.
Mortgage Regulations in Saskatchewan
Mortgage rules follow federal standards, with oversight by the Financial and Consumer Affairs Authority (FCAA). Brokers must be licensed under the Saskatchewan Mortgage Brokerages Act.
Borrowers must pass the OSFI stress test — the higher of 5.25% or your contract rate + 2%. Amortizations are capped at 25 years for uninsured mortgages, but insured first-time buyers of new builds can get up to 30 years.
In short, Saskatchewan lending criteria are the same as the rest of Canada, with FCAA ensuring local broker licensing.