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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 main drivers behind mortgage rates in Calgary and Canada at large:
The Bank of Canada influences mortgage rates through its policy rate. The Bank’s objective is to keep inflation in the target range of 1% to 3% and preserve the value of the Canadian dollar. It achieves this by setting the target overnight rate, also known as the policy rate.
As of today, the policy rate is 2.25%. The central bank uses the target rate to influence how the banks set their own rates and acts as a barometer for the rate at which banks borrow and lend among themselves.
The higher the inflation, particularly if it’s above 3%, the higher the likelihood of a rate hike. Though inflation does not directly affect mortgage rates, the Bank tends to raise rates to cool down economic activity and force homebuyers to retreat from the market. It’s worth noting that government bond yields, which influence fixed rates, are affected by inflation as well, in addition to factors like oil prices, geopolitical tensions and broader economic conditions (which currently remain uncertain).
Banks, credit unions, monoline lenders and other financial institutions compete to attract borrowers across Calgary and beyond. During competitive market conditions, lenders may offer better rates. Shopping around and comparing multiple lenders — including local Alberta credit unions like Connect First Credit Union — can often result in a better mortgage rate.
Lenders look at the big picture when assessing your eligibility for a mortgage. Here are some of the key things lenders evaluate when looking over your application and proposing a mortgage rate for a Calgary home.
1. Down payment
The size of your down payment will heavily influence your mortgage rates for a Calgary house, townhome or condo. When buying a home in Canada, your down payment must be between 5 to 20% of the total cost of the property. Here are the federal government’s guidelines around this:
If your down payment is less than 20%, you’ll need to purchase Canada Mortgage and Housing Corporation (CMHC) mortgage insurance.
2. Debt service ratios
Lenders take debt ratios seriously when calculating mortgage rates. They are grouped into the following two categories:
3. Credit score
Your credit score is important because it demonstrates to lenders that you’re a responsible borrower. Credit scores run from 300 to 900, but if you’re applying for a mortgage loan, you’ll likely need a score of 600 or above. The higher your score, the more options you’ll have for lenders and the better the chance you’ll have at finding the lowest mortgage interest rates in Calgary.
4. Income
Another key criteria for mortgage eligibility is your income. If you’re a salaried employee, lenders will review your annual income as well as any rental income or investments. They’ll also consider your employment history. If you’re self-employed, lenders will examine tax returns from the last three years, your personal and business credit scores, your business or GST licence, and any other supporting documents, including income statements, cash flow statements and balance sheets.
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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 4.18%. That’s 56 bps abow the 5-year variable rate, which stands at 3.62%.
| Month | Fixed | Variable |
|---|---|---|
| 08/25 | 4.52% | 4.55% |
| 09/25 | 4.67% | 4.67% |
| 10/25 | 4.63% | 4.51% |
| 11/25 | 4.64% | 4.39% |
| 12/25 | 4.69% | 4.36% |
| 01/26 | 4.89% | 4.48% |
| 02/26 | 4.89% | 4.29% |
| 03/26 | 4.95% | 4.59% |
| 04/26 | 4.55% | 3.96% |
| 05/26 | 4.26% | 3.63% |
| 06/26 | 4.22% | 3.62% |
| 07/26 | 4.18% | 3.62% |
Last Updated: August 1, 2026
New mortgage loan values have been trending upward throughout 2025, reaching the average of $382,514 in Calgary and $360,597 in Canada by the end of Q4 2025.
Here are all the average new mortgages loan values in Calgary 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 |
| Calgary | $355,228 | $366,817 | $371,199 | $336,701 | $331,144 | $339,294 | $357,544 | $356,871 | $342,422 | $362,325 | $380,842 | $374,244 | $376,242 | $378,543 | $393,044 | $382,514 |
Scheduled monthly payments have been trending downward throughout 2025, reaching the average of $2,156 in Calgary 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| $1,594 | $1,726 | $1,941 | $1,971 | $2,033 | $2,036 | $2,153 | $2,296 | $2,192 | $2,237 | $2,326 | $2,196 | $2,241 | $2,124 | $2,215 | $2,156 |
When you buy a property in Calgary (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.
Calgary 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.
The best way to find the lowest mortgage rate in Calgary is to compare quotes. Lowestrates.ca connects you with top financial institutions and mortgage providers across Canada who will evaluate your financial health and get the lowest rate available for you. No two banks or mortgage providers will give the same rate, so it is best to compare and find the lowest rate available in the market.
You need to apply to a mortgage lender or a broker. This is a process that requires documentation such as pay stubs to prove employment income, as well as your current bills. A mortgage broker or agent will then file your application to a lender and that lender will determine whether you qualify for a mortgage. LowestRates.ca can help you compare brokers and lenders to get your qualification journey started.
All three are viable options. Choosing which one is right for you depends on who is offering the most competitive rate, as well as the details of the mortgage itself. For instance, some mortgages have very generous pre-payment options. This means you can pay extra into your mortgage without incurring early payment penalties.
A bank or credit union is only one option for you. A broker can help you compare the options available. LowestRates.ca can connect you with a broker to get your journey started.
Open mortgage: Open mortgages are appealing for their flexibility — they’re designed for homeowners who want to increase their mortgage payments, pay down their mortgage early, or relocate shortly. Open mortgages can be considered advantageous because they can be paid off early without incurring any fees. One hitch? By comparison, mortgage rates in Calgary will be higher with an open mortgage than a closed mortgage.
Closed mortgage: These mortgages typically offer the cheapest mortgage rates in Calgary. By choosing this option, homeowners will be required to make fixed payments for their entire term. Refinancing, renegotiating, or paying down a mortgage early can be risky because of the penalties involved. Some lenders do make exceptions when it comes to accelerated payments on the other hand. You’ll need to review the terms and conditions of your contract carefully.
So, which one is right for you? Most people should be opting for closed mortgages. The interest rate is far more competitive, and there is no reason not to get a closed mortgage if you are planning to live in your home for the long term. Open mortgages should only be considered by those who plan to break their mortgage or relocate before their term is up.
Finding the current mortgage rates in Calgary is just one step of the process. You’ll also want to explore prepayment privileges, penalties and portability.
Finally, remember that rates matter. Even a small difference in bps between mortgages can add up over five years.
Take a $444,600 mortgage for example. If your mortgage rate is 4.90%, your monthly payment will be $2,561 — or $153,660 in payments over five years.
Compare that to a mortgage of 4.75% — just 15 bps lower. The monthly payment is now $2,523. Not that much lower. But over five years, that translates to $151,380. Which saves you more than $2,000.
Both lenders and brokers bring their best rates to LowestRates.ca every single day. When you get a quote on the website, we are finding you the best rate from a trusted broker or lender in your province. Every day, brokers and lenders are competing for your business on our website.
On your end, you just have to fill out a quick form about yourself and the home you are planning to buy. We then connect you to the mortgage provider that offers the best rate and the right mortgage for your unique needs.
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. 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 to speak with our broker-partners).
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.
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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