Compare current fixed and variable mortgage rates, monthly payment estimates, and first-time buyer programs for Miramichi homebuyers.
Based on $$185,000 average home price at current New Brunswick rates.
| Down % | Down Amount | CMHC Fee | Mortgage | Monthly Fixed | Monthly Variable |
|---|---|---|---|---|---|
| 5% | $9,250 | $7,030 | $182,780 | $1,054/mo | $897/mo |
| 10% | $18,500 | $5,162 | $171,662 | $990/mo | $842/mo |
| 15% | $27,750 | $4,403 | $161,653 | $932/mo | $793/mo |
| 20%NO CMHC | $37,000 | $0 ✅ | $148,000 | $853/mo | $726/mo |
The average home price in Miramichi is approximately $185,000 as of 2026, representing a +3.8% change year-over-year.
Current 5-year fixed rates in Miramichi 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 $185,000 home in Miramichi with 10% down at 4.86%, you would need approximately $29,538/year gross income to meet the GDS ratio of 39%.
For a $185,000 home, the minimum down payment is 5% ($9,250). With 5% down, CMHC insurance of $7,030 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.