There are plenty of annoying things about driving: traffic jams, bad drivers, and of course the expense of it all with gas prices and insurance premiums. And that’s before we include the occasional ticket or two.
This doesn’t sound like it makes sense, but apparently teaching young people advanced driving skills actually makes them more likely to crash into things than regular young drivers.
Hardly anyone likes the idea of paying insurance premiums. However, insurance is one of those things you need. Even if it’s not your preference, the reality is that you need insurance to protect you against the unexpected. Here are four reasons that you need insurance in Canada today:
After so much anticipation and speculation, the Tesla Model 3 has finally made its debut on the world stage and the world is pretty damn impressed.
Anticipation is high in the auto industry today as the most exciting manufacturer in the industry is set to make history with the unveiling of their new car the Tesla Model 3.
Like it or not Uber is here to stay for the foreseeable future, despite the fact that the company’s main service is technically illegal.
Auto29,951 Canadians
have compared rates and saved money over the last 24 hours
Ride-Sharing Insurance
Compare insurance quotes & find the lowest ride-sharing auto insurance rate. Get the cheapest coverage for your vehicle today! Instant. Online. Free.Drive for Uber or Lyft? Compare ride sharing insurance for free.
On average, Uber and Lyft drivers save hundreds of dollars per year by comparing quotes with us.
Compare ride sharing insurance quotes for free.
Get StartedCompare rates from Canada's leading auto insurance providers
How comparing auto insurance quotes works. Hint: it’s free!
Share
First, we need to know about you and your vehicle. It only takes 3 minutes, and it’s 100% confidential.
Compare
Next, we’ll show you quotes from 50+ Canadian providers. It’s free, with no commitment.
See how our customers with collision coverage save big on auto insurance.
Uber and Lyft insurance: what you need to know
Why do Uber and other ride sharing drivers need extra insurance?
Auto insurance news
AutoWinnipeg
Get the best mortgage rates in Winnipeg. Compare current rates from Canada's top mortgage providers & find today's lowest mortgage rates. Instant. Online. Free.
Compare Winnipeg mortgage rates from Canada’s top banks and brokers.
29,951 Canadians
have compared rates and saved money over the last 24 hours
How comparing mortgage quotes works. Hint: it’s free!
Share
First, choose whether you're buying a new home, refinancing or renewing, and fill in a few details. It only takes 3 minutes, and it’s 100% confidential.
Compare
Next, we’ll show you quotes from 50+ Canadian banks and brokers. It’s free, with no commitment.
The best current mortgage rates in Canada
Mortgage rates in Winnipeg
With over 749,607 residents, Winnipeg is home to more than half of Manitoba's population. Winnipeggers enjoy relatively low housing costs compared to other provinces, putting them in the driver’s seat when they’re shopping for a loan.
Factors that affect your Winnipeg mortgage rate
If you are looking for the lowest mortgage rate available, here are some of the factors that Winnipeg lenders consider when deciding their rate:
Conventional and high-ratio mortgage rates in Winnipeg (2023-2024)
When it comes to conventional and high-ratio mortgage rates in Winnipeg, and Manitoba at large, the overall trend has been downward so far, which is fantastic news for home buyers.
Conventional 5-year fixed mortgage rates vs. high ratio 5-year fixed mortgage rates in Manitoba
| Date | Average Conventional Rate |
|---|
Fixed and variable mortgage rates in Winnipeg (2023-2024)
Fixed rates and variable rates have both been trending downward in 2024.
5-year fixed vs. 5-year variable mortgage rates in Manitoba
| Month | Fixed | Variable |
|---|---|---|
Average value of new mortgage loans in Winnipeg (2019-2024)
The average value of new mortgage loans in Winnipeg reached its peak in Q3 2022. Due to Bank of Canada’s interest rate hikes that started in March 2022, home prices went into a cooldown period between Q3 2022 and Q1 2023 (as reported by the CMHC). This led to a sharp decrease in the new mortgage loan value from Q4 2022 to Q2 2023, preventing many people from qualifying for larger loans.
Average mortgage monthly payment in Winnipeg (2019-2024)
Much like the average value of new mortgages in Winnipeg, average monthly payments have seesawed in line with the rising, then declining, interest rates.
Mid 2022, after the rates started to rise, was a turning point, as monthly payments started to increase dramatically. From Q2 to Q3 2022, payments increased from $1,327 to $1,506, according to the CMHC. That’s an increase of more than 13%. It reached a peak of $1,624 in Q3 2023.
Current Winnipeg housing market and home prices
Winnipeg closing costs and land transfer tax
Manitoba, and by association, Winnipeg require homebuyers to pay land transfer tax, and registration fees when registering a transfer of title.
Land transfer tax is calculated based on market value of a property on the date of the registration of a transfer of title. It is calculated as follows:
Your questions about Winnipeg mortgages, answered.
How can I find the best mortgage rates in Winnipeg?
Joel Kranc
About the Author
Joel Kranc is an award-winning writer, author and journalist.
Mortgage news
Homebuying