Best 5-Year Fixed
4.49%
Mortgage rates in Prince Edward Island
Updated June 25, 2026.
PEI has a flat 1% land transfer tax with a first-time buyer exemption, and the smallest housing market in Canada by transaction volume. National lenders dominate; provincial credit unions are limited.
Rates shown are updated daily and are not an offer of credit. Actual rates require lender approval and may differ. Discounted rates are the bank's own published special-offer rates; a mortgage broker can often secure a lower rate than what's shown. See our methodology.
Best 3-Year Fixed
4.44%
Best Variable
3.95%
All lenders available in Prince Edward Island
Includes national lenders plus provincial credit unions and lenders operating in Prince Edward Island.
| Lender | 3-Year Fixed | 5-Year Fixed | Variable |
|---|---|---|---|
 Tangerine | 4.44% | 4.49% | 4.00% |
 TD Bank | 4.69% | 4.84% | 4.24% |
 BMO Bank of Montreal | 4.64% | 4.84% | 4.10% |
 CIBC | 4.64% | 4.84% | 3.95% |
 National Bank of Canada | 4.74% | 4.84% | 4.45% |
 RBC Royal Bank | 4.74% | 4.89% | 3.95% |
 Scotiabank | 6.05% | 4.90% | 5.95% |
Land transfer tax in Prince Edward Island
PEI Real Property Transfer Tax: flat 1% of the greater of the purchase price or assessed value. On a $300,000 home that's $3,000.
First-time buyer rebate
First-time buyers are fully exempt from the 1% RPTT on homes purchased in PEI, with no price cap — provided the buyer is a Canadian citizen or permanent resident and occupies the home as a principal residence.
First-time home buyer programs
Federal programs apply everywhere — the FHSA, RRSP Home Buyers' Plan, and federal Home Buyers' Tax Credit. The programs below are specific to Prince Edward Island.
- First-time Home Buyers' RPTT Exemption
100% exemption from PEI's 1% Real Property Transfer Tax. Save $3,000 on a $300,000 home. Eligibility: Canadian citizen / PR, 18+, never previously owned, occupy within 9 months.
Local notes
- Foreign buyers and non-residents face an additional 1% RPTT surcharge on PEI purchases.
- Provincial Credit Union is the main local alternative; offerings are limited compared to other provinces.