The best mortgage rates in Alberta? Get ‘em right here!

Find the best rate in just seconds.

Best Variable Rate
Dash Mortgage

Dash Mortgage

Term 5 Year
Type Variable Closed
Rate 2.64%
Best Fixed Rate
Dash Mortgage

Dash Mortgage

Term 5 Year
Type Fixed Closed
Rate 2.42%
CanWise Financial

CanWise Financial

Term 5 Year
Type Fixed Closed
Rate 2.44%
CanWise Financial

CanWise Financial

Term 2 Year
Type Fixed Closed
Rate 2.48%
Dash Mortgage

Dash Mortgage

Term 3 Year
Type Fixed Closed
Rate 2.69%
Dash Mortgage

Dash Mortgage

Term 2 Year
Type Fixed Closed
Rate 2.69%
BMO Bank of Montreal

BMO Bank of Montreal

Term 5 Year
Type Fixed Closed
Rate 2.87%
First National

First National

Term 5 Year
Type Fixed Closed
Rate 2.89%
CMLS

CMLS

Term 5 Year
Type Fixed Closed
Rate 3.19%

Compare mortgage rates in Alberta.

Looking for the best mortgage rates in Alberta? LowestRates.ca can help — we bring Albertans the lowest rates from the top mortgage brokers and banks across the province. Our free, no-obligation service lets you find and compare the best mortgage offers available in Alberta on any given day — just like that.

Lower rates = bigger savings.

Shopping around for a mortgage can save you big money in Alberta. This year, our 5-year fixed rates in Alberta are averaging less than 2.5%, while the same bank-posted rates average well over 4%.

On a $400,000 mortgage, that difference in rates would result in more than $100,000 of savings over the life of your loan.

On average, LR.ca rates are more than 2 full percentage points lower than posted bank rates.On a $400,000 mortgage that’s an average savings of:

$465 Per Month
$5,578 Per Year
$139,441 In a Lifetime

5-year fixed mortgage rate from LowestRates.ca in Alberta vs 5-year bank rate

MonthOur average rateAverage bank rate
02/183.01%5.14%
03/183.07%5.14%
04/183.08%5.14%
05/183.18%5.34%
06/183.16%5.34%
07/183.14%5.34%
08/183.19%5.34%
09/183.17%5.34%
10/183.29%5.34%
11/183.37%5.34%
12/183.42%5.34%
01/193.33%5.34%

Variable mortgages vs. fixed mortgages: Which is right for you?

At LowestRates.ca, our variable rates in Alberta have been consistently lower than our fixed rates. In fact, borrowers who selected 5-year variable rate loans on our site have saved almost half a percentage point on average compared to 5-year fixed rate borrowers.

On average, variable rates are almost half a percentage point lower than fixed rates. On a $400,000 mortgage that’s an average savings of:

$465 Per Month
$5,578 Per Year
$139,441 In a Lifetime

5-year fixed mortgage rate in Alberta vs 5-year variable rate from LowestRates.ca

MonthOur average rateAverage bank rate
02/183.01%5.14%
03/183.07%5.14%
04/183.08%5.14%
05/183.18%5.34%
06/183.16%5.34%
07/183.14%5.34%
08/183.19%5.34%
09/183.17%5.34%
10/183.29%5.34%
11/183.37%5.34%
12/183.42%5.34%
01/193.33%5.34%

Focus On

Alberta housing.

After a string of banner years, Alberta’s housing market has slowed sharply in 2015 and 2016. According to the Canada Mortgage and Housing Corporation (CMHC), the average price of a resale home in Alberta has now fallen below $400,000. Plunging oil prices and surging unemployment will likely continue to exert downward pressure on Alberta home prices into 2017.

Resale home prices in Alberta

QuarterAlbertaCanada
Q1/13$375,767$367,382
Q2/13$375,980$372,775
Q3/13$383,461$388,651
Q4/13$381,000$381,900
Q1/14$398,866$399,945
Q2/14$395,890$402,605
Q3/14$400,626$409,388
Q4/14$404,265$416,410
Q1/15$388,155$425,062
Q2/15$394,908$438,866
Q3/15$392,500$445,000
Q4/15$385,000$438,200
Q1/16$388,500$440,800
Q2/16$390,300$441,800

Despite recent declines, prices for single-detached homes and condominiums in Alberta are roughly in line with the national average.

Two-storey home and condo prices by province

ProvinceTwo StoreyCondo
British Columbia$749,500$319,400
Alberta$405,000$255,100
Saskatchewan$384,500$246,100
Manitoba$322,600$207,500
Ontario$528,900$280,800
Québec$323,700$201,400
Canadian Average$466,100$254,800

Your Alberta mortgage questions, answered.

Variable or fixed: which is more popular?

Of the thousands of Alberta borrowers who have shopped for a mortgage at LowestRates.ca, roughly half have taken variable rate loans.

5-Year Fixed Rates vs. 5-Year Variable Rates in Canada: Who Takes What?✝

of Canadians apply for 5-year variable mortgages
49.82%
of Canadians apply for 5-year fixed mortgages
50.18%

✝Based on Canadian borrowers who applied for a mortgage at LowestRates.ca since 2014.

About Alberta

Jagged mountain peaks, vast parks, rolling grasslands, rodeos, oil — it's hard not to love Alberta. Arguably Canada's richest province, Alberta is home to more than three and a half million people and boasts a strong economy along with sunny weather, low taxes and great scenery. It offers a wide variety of physical landscapes for visitors and residents to explore and is the only place in North America where prairie, northern forest and mountain regions meet. Alberta's two largest cities, Calgary and Edmonton, are both vibrant yet laid-back urban centres with superb cultural institutions and much to see and do.

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