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Check out today's best mortgage rates in Canada by type and term.
| Insured ? | 80% LTV ? The rates in this column apply to mortgage amounts between 65.01% and 80% of the property value. The home must be owner-occupied and have an amortization of 25 years or less. You must have purchased it for less than $1 million. These rates are not available on refinances. Refinances require "Uninsured" rates. | 65% LTV ? The rates in this column apply to mortgage amounts that are 65% of the property value or less. The home must be owner-occupied and have an amortization of 25 years or less. You must have purchased it for less than $1 million. These rates are not available on refinances. Refinances require "Uninsured" rates. | Uninsured ? | Bank Rate ? | ||
|---|---|---|---|---|---|---|
Insured 4.64% | 80% LTV 4.19% | 65% LTV 4.19% | Uninsured 4.99% | 4.99% | ||
Insured 3.99% | 80% LTV 3.89% | 65% LTV 3.89% | Uninsured 4.44% | 4.53% | ||
Insured 3.69% | 80% LTV 3.79% | 65% LTV 3.79% | Uninsured 3.9% | 4.39% | ||
Insured 3.84% | 80% LTV 3.99% | 65% LTV 3.99% | Uninsured 4.39% | 4.44% | ||
Insured 3.69% | 80% LTV 3.55% | 65% LTV 3.55% | Uninsured 3.69% | 4.19% | ||
Insured 4.19% | 80% LTV 4.24% | 65% LTV 4.24% | Uninsured 4.89% | 5% | ||
Insured 5.04% | 80% LTV 4.34% | 65% LTV 4.34% | Uninsured 5.24% | 6.09% | ||
Insured 3.9% | 80% LTV 3.95% | 65% LTV 3.9% | Uninsured 3.9% | 5.95% | ||
Insured 3.45% | 80% LTV 3.45% | 65% LTV 3.45% | Uninsured 3.5% | 4.24% | ||
Insured N/A | 80% LTV N/A | 65% LTV N/A | Uninsured N/A | N/A | ||
Insured 5.45% | 80% LTV 5.45% | 65% LTV 5.45% | Uninsured 5.5% | N/A |
There are three primary forces driving mortgage rates in Alberta and across Canada:
The Bank of Canada shapes mortgage rates through its policy rate. The Bank's goal is to keep inflation within its target band of 1% to 3% and maintain the stability of the Canadian dollar. It does this by setting the target overnight rate, commonly referred to as the policy rate.
The policy rate currently sits at 2.25%. The central bank uses this target rate to guide how lenders set their own rates, and it serves as a benchmark for the rate at which financial institutions borrow and lend between one another.
The higher inflation climbs — particularly when it exceeds 3% — the greater the chance of a rate increase. While inflation does not directly affect mortgage rates, the Bank typically raises rates to slow economic activity and discourage homebuyers from entering the market. It's also worth noting that government bond yields, which have a bearing on fixed rates, are themselves influenced by inflation, alongside factors such as oil prices, geopolitical developments, and broader economic conditions, which continue to remain uncertain.
Banks, credit unions, monoline lenders, and other financial institutions all compete for borrowers, and in a competitive market, lenders are often willing to offer more attractive rates. Taking the time to shop around and compare options across multiple lenders can frequently lead to a more favourable mortgage rate.
Mortgage rates, as mentioned, are set by the lending institutions, which in turn are influenced by the Bank of Canada's overnight target rate. However, other factors can affect your mortgage rate in Alberta, including:
1. Down payment
Your down payment is the primary factor lenders look at because it determines how much mortgage you can afford, and whether you need to purchase CMHC mortgage default insurance. When it comes to your down payment, more is better. There are minimum down payment rules that apply across Canada based on the price of the home:
2. Debt service ratios
While your down payment is significant, it’s not the only factor that matters when determining your mortgage rate. Lenders will also look at your monthly debt repayment obligations to determine whether you’ll be able to afford your mortgage payments. To do so, lenders use two debt service ratios:
3. Credit score
A credit score is a number between 300 and 900 that measures your creditworthiness. A high credit score signifies to lenders that you pay your bills on time and manage your credit responsibly, which increases their confidence to lend you money. A low credit score means lenders are taking on more risk if they loan you money.
Each financial institution has its own criteria to determine borrowers’ eligibility for a mortgage, but most require a credit score between 600 and 680, at minimum. If your score is too low, you won’t qualify for a mortgage from a bank or other traditional lender. To get a mortgage in Alberta with bad credit, you may have to look at mortgage rates from private lenders. No matter where you live in Canada, bad credit will be accompanied by a higher interest rate.
4. Employment and income
To ensure you’re capable of servicing your mortgage payments, lenders will want to know how you earn income, whether it’s through a salaried job, self employment, rental properties or investments. They’ll ask for proof of all your income streams when assessing your application, so be prepared to provide it. If you’re self-employed, you’ll need to submit various documents, such as financial statements, business license, business and personal credit scores, tax returns from the past three years, contracts showing expected future revenue, and proof that you’re the primary owner of the business.
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How do these mortgage types differ? Conventional (low-ratio) mortgage requires a down payment of 20% or more, with no mandatory insurance, while a high-ratio mortgage requires a down payment of below 20%, plus mandatory insurance.
Which mortgage type offers cheaper rates? As of August 2026, the average conventional 5-year fixed rate is 4.23%. That’s 11 bps above the average high-ratio 5-year fixed rate, which stands at 4.12%.
| Date | Average Conventional Rate | Average High Ratio Rate |
|---|---|---|
| 08/25 | 4.61% | 4.48% |
| 09/25 | 4.59% | 4.45% |
| 10/25 | 4.59% | 4.36% |
| 11/25 | 4.46% | 4.28% |
| 12/25 | 4.64% | 4.44% |
| 01/26 | 5.99% | 5.99% |
| 02/26 | 5.99% | 5.99% |
| 03/26 | 5.99% | 5.99% |
| 04/26 | 4.65% | 4.49% |
| 05/26 | 4.38% | 4.23% |
| 06/26 | 4.34% | 4.18% |
| 07/26 | 4.23% | 4.12% |
Last Updated: August 1, 2026
How do these mortgage rates differ? A fixed rate mortgage is a rate fixed over a period of time. Interest rates and the mortgage payments remain the same (and consistent) over that mortgage term. A variable rate mortgage is different. While the mortgage payment remains constant, the interest rate payments fluctuate with the prime interest rate.
Which rate is cheaper? As of August 2026, the 5-year fixed rate is 4.64%. That’s 25 bps above the 5-year variable rate, which stands at 4.39%.
| Month | Fixed | Variable |
|---|---|---|
| 12/24 | 4.72% | 5.26% |
| 01/25 | 4.78% | 5.05% |
| 02/25 | 4.60% | 4.80% |
| 03/25 | 4.50% | 4.64% |
| 04/25 | 4.40% | 4.69% |
| 05/25 | 4.63% | 4.78% |
| 06/25 | 4.79% | 4.91% |
| 07/25 | 4.48% | 4.59% |
| 08/25 | 4.52% | 4.55% |
| 09/25 | 4.67% | 4.67% |
| 10/25 | 4.63% | 4.51% |
| 11/25 | 4.64% | 4.39% |
Last Updated: August 1, 2026
New mortgage loan values have been trending upward throughout 2025, reaching the average of $360,096 in Alberta and $360,597 in Canada by the end of Q4 2025.
Here are all the average new mortgages loan values in Alberta from 2022 to 2025:
| Q1 – 2022 | Q2 – 2022 | Q3 – 2022 | Q4 – 2022 | Q1 – 2023 | Q2 – 2023 | Q3 – 2023 | Q4 – 2023 | Q1 – 2024 | Q2 – 2024 | Q3 – 2024 | Q4 – 2024 | Q1 – 2025 | Q2 – 2025 | Q3 – 2025 | Q4 – 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Canada | $368,936 | $371,063 | $363,654 | $325,612 | $320,298 | $314,540 | $338,522 | $327,899 | $323,537 | $332,825 | $349,364 | $343,271 | $356,831 | $350,281 | $360,986 | $360,597 |
| Alberta | $328,489 | $337,078 | $339,855 | $317,357 | $310,003 | $316,325 | $326,888 | $325,139 | $325,214 | $335,142 | $344,282 | $344,347 | $352,039 | $354,954 | $361,702 | $360,096 |
Scheduled monthly payments have been trending downward throughout 2025, reaching the average of $2,006 in Alberta by the end of Q4 2025.
| Q1 – 2022 | Q2 – 2022 | Q3 – 2022 | Q4 – 2022 | Q1 – 2023 | Q2 – 2023 | Q3 – 2023 | Q4 – 2023 | Q1 – 2024 | Q2 – 2024 | Q3 – 2024 | Q4 – 2024 | Q1 – 2025 | Q2 – 2025 | Q3 – 2025 | Q4 – 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| $1,510 | $1,624 | $1,800 | $1,856 | $1,907 | $1,905 | $1,977 | $2,089 | $2,094 | $2,071 | $2,090 | $2,029 | $2,052 | $1,992 | $2,023 | $2,006 |
When you buy a property in Alberta (and the land it rests on), you must pay a tax to the government after the transaction is completed. The amount you pay depends on the value of your property, but almost always forms the largest portion of your closing costs.
Alberta does not charge a land transfer tax. That said, you will be charged a property registration fee.
The property registration fee has two components:
Your total registration fee is the above two fees added together. 20% down payment is assumed in the calculations.
It’s important to have a good credit score. Canada Mortgage and Housing Corporation says the credit score requirement on insured mortgages should be 600.
Other factors you should have in order can include:
Most importantly is proving you can carry the mortgage, usually calculated by your broker or mortgage agent using a debt service ratio analysis.
Unlike a bank, a mortgage broker can only offer mortgages from their line of products. They can access many lenders and help you choose the right product for your circumstance. The good news is that mortgage brokers are free to use and are paid by the lender while also having access to a variety of lender interest rates. LowestRates.ca can help you navigate and compare rates and direct you to the broker that best suits your Alberta mortgage rate needs.
Some people use the word “term” interchangeably with “amortization period” when discussing mortgages, but the two refer to entirely separate things.
Mortgage term: The time in which the interest rate agreed to by you and your lender remains in effect. Once the term ends, you can renew your mortgage contract at a new rate. Mortgage terms vary in length. For example, you can look for 6 month mortgage rates in Alberta, or in yearly increments up to 10 years. The most popular term in Canada is 5 years. In general, the longer the term of your mortgage, the higher the rate you can expect to pay.
Amortization period: The length of time it will take for you to pay off your mortgage in full, both the principal and interest. The maximum amortization period allowed in Canada is 35 years. However, it’s only available for homebuyers who contribute a down payment of at least 20% (and are thus not obligated to purchase CMHC mortgage insurance). Homebuyers who put down less than 20% can acquire a mortgage with a maximum amortization period of 30 years, if they are first-time homebuyer or purchasing a new build. 25 years is applicable in all other cases. A 5-year fixed term with a 25-year amortization period is the most popular combination in Canada.
Mortgage default insurance is a protection for the lender if you don't (or can’t) make your mortgage payments. It's required for all mortgages where the down payment is less than 20% of the purchase price. The mandate comes from the Office of the Superintendent of Financial Institutions (OSFI) — a government agency that oversees federally regulated financial institutions in Canada. Mortgage insurance is sold by Canada Mortgage and Housing Corporation (CMHC), Sagen and Canada Guaranty.
When it comes to mortgage insurance, make sure you understand the difference between the following:
Based on different down payment amounts, CMHC’s insurance rates are as follows:
You can find out more by using the LowesRates.ca Mortgage Default Insurance Calculator.
Getting a lower mortgage in Alberta (or anywhere else in Canada) can matter a great deal — especially when you look at rates long-term. Let’s say you’re debating between two different 5-year fixed rates. One is an 80% LTV (loan-to-value) rate of 4.09% — a rate that applies to mortgage amounts between 65.01% and 80% — and the other a bank rate of 4.34%.
Your home costs $500,000, your down payment is 20% and your amortization is 25 years, meaning that you’re borrowing $400,000. Based on this, your 80% LTV monthly payment would be $2,124, while your monthly bank rate payment would be $2,178. The latter is $54 more expensive. In a year, this difference would amount to $648, and in five years, $3,240. Not a lot of money compared to the rest of the amount, but enough to make an impact. It’s money you could save up for renovations or another vital expense.
The difference between these two rates is miniscule, of course. If you were to look at choosing between a 5-year variable rate of 5.55%, for instance, and a 5-year fixed rate of 4.44%, you’d see a far greater discrepancy — $3,036 in a single year.
But getting the lowest mortgage rate is just one factor. The flexibility of your mortgage contract is something to be aware of during negotiations as well. Features such as prepayment privileges, penalties and portability can make a big difference. After all, this is a decades-long commitment.
Yes, it’s safe — you no longer need to visit a bank branch or mortgage broker’s office in person to apply for a mortgage in Alberta, or across Canada. It’s becoming increasingly common for Canadians to apply for mortgages online. LowestRates.ca only works with reputable, trustworthy financial institutions. Your credit score won’t be affected and your information is secure. We don’t share your information with anyone unless you want to connect with a mortgage broker. We take care of the heavy lifting by comparing the market for you and can connect you with the best mortgage lenders in the country.
We have a strong selection of lenders on LowestRates.ca including the big banks and many independent providers and we’re adding more lenders all the time. This ensures we’re always delivering you a competitive rate. Even if you’re not ready to commit to anything, you can use our site as a starting point for research (it’s totally free, and you’re under no obligation).
The better informed you are, the more likely you'll negotiate a better deal for yourself. And, really, that’s what we care about the most.
Mortgage rates in Alberta can fluctuate depending on size of population, home styles, neighbourhood values and a host of other reasons. Simply put, greater competitive pressure in Canada's hottest real estate markets (especially Vancouver and Toronto) translates into cheaper mortgage rates. Ontario is the most competitive by a long shot, with 113 lenders publicly advertising mortgage rates (not including brokers).
Also, different lenders have different overhead costs they have to consider. They also have to consider the borrower's financial situation, including their debt-to-income ratio, credit score and down payment. To find the best mortgage rate, you need to find the right lender through sites like LowestRates.ca.
Taras Trofimov
About the Author
Taras is the Content Manager for LowestRates.ca. He has produced thought leadership content for organizations like Constellation Software, Facebook and Yellow Pages as well as outlets like The Globe and Mail, Autoblog and MSN Autos.
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