Compare current fixed and variable mortgage rates, monthly payment estimates, and first-time buyer programs for Fredericton homebuyers.
Based on $$285,000 average home price at current New Brunswick rates.
| Down % | Down Amount | CMHC Fee | Mortgage | Monthly Fixed | Monthly Variable |
|---|---|---|---|---|---|
| 5% | $14,250 | $10,830 | $281,580 | $1,623/mo | $1,381/mo |
| 10% | $28,500 | $7,952 | $264,452 | $1,524/mo | $1,297/mo |
| 15% | $42,750 | $6,783 | $249,033 | $1,436/mo | $1,221/mo |
| 20%NO CMHC | $57,000 | $0 ✅ | $228,000 | $1,314/mo | $1,118/mo |
The average home price in Fredericton is approximately $285,000 as of 2026, representing a +4.9% change year-over-year.
Current 5-year fixed rates in Fredericton start around 4.86%, while variable rates start around 3.31%. Credit unions in New Brunswick often offer rates 0.25–0.50% below major banks.
To afford a $285,000 home in Fredericton with 10% down at 4.86%, you would need approximately $45,508/year gross income to meet the GDS ratio of 39%.
For a $285,000 home, the minimum down payment is 5% ($14,250). With 5% down, CMHC insurance of $10,830 is added to your mortgage.
With the Bank of Canada holding at 2.25%, variable rates (3.31%) are currently lower than 5-year fixed (4.86%). Variable saves money if rates stay flat or drop, but fixed gives payment certainty. Consult a mortgage broker for your specific situation.