Compare current fixed and variable mortgage rates, monthly payment estimates, and first-time buyer programs for Thompson homebuyers.
Based on $$165,000 average home price at current Manitoba rates.
| Down % | Down Amount | CMHC Fee | Mortgage | Monthly Fixed | Monthly Variable |
|---|---|---|---|---|---|
| 5% | $8,250 | $6,270 | $163,020 | $939/mo | $799/mo |
| 10% | $16,500 | $4,604 | $153,104 | $882/mo | $750/mo |
| 15% | $24,750 | $3,927 | $144,177 | $830/mo | $706/mo |
| 20%NO CMHC | $33,000 | $0 ✅ | $132,000 | $760/mo | $647/mo |
The average home price in Thompson is approximately $165,000 as of 2026, representing a +2.1% change year-over-year.
Current 5-year fixed rates in Thompson start around 4.85%, while variable rates start around 3.30%. Credit unions in Manitoba often offer rates 0.25–0.50% below major banks.
To afford a $165,000 home in Thompson with 10% down at 4.85%, you would need approximately $26,308/year gross income to meet the GDS ratio of 39%.
For a $165,000 home, the minimum down payment is 5% ($8,250). With 5% down, CMHC insurance of $6,270 is added to your mortgage.
With the Bank of Canada holding at 2.25%, variable rates (3.30%) are currently lower than 5-year fixed (4.85%). Variable saves money if rates stay flat or drop, but fixed gives payment certainty. Consult a mortgage broker for your specific situation.