Best Mortgage Rates in Calgary
Compare fixed and variable mortgage rate offers from the best banks and alternative lenders in Calgary.Calgary mortgage rate update: September 2025
It's an active month for mortgage rates in Calgary.
On September 17, 2025, the Bank of Canada lowered its overnight rate 25 basis points to 2.5%. Lenders have already responded by lowering their variable mortgage rates.
Some mortgage brokerages are now offering variable rates around 3.7%. They’re still well over 4% at the big banks.
Variable rates could dip again if a cut is handed down at the Bank of Canada’s next overnight rate announcement, which is scheduled for October 23.
Fixed mortgage rates have also edged down in September, but this is a response to falling government bond yields, not the Bank of Canada’s cut.
Three- and five-year yields, which lenders use to price their fixed rates, have been sliding all month. It was just a matter of time before three-year fixed rates and five-year fixed rates followed suit.
Rates aren't exactly plummeting, but we are seeing improved offers at some of Canada's biggest banks. Three- and five-year fixed rates are still well over 4% at the Big Six. At brokerages, five-year fixed rates can be found for around 3.9%. There are still some 3.69% three-year fixed offers out there, too.
Read more about the Bank of Canada's latest rate announcement.
The BoC makes policy interest rate announcements eight times a year. Find out how its latest decision might impact Canada's housing market.
What's a good mortgage rate in Calgary right now?
As of September 2025, some Calgary lenders are offering variable mortgage rates for around 3.7% and fixed rates around 3.9% on certain home purchases.
2025 Calgary mortgage rate forecast
If the Bank of Canada lowers its overnight rate before the end of 2025, variable mortgage rates will also decrease. Fixed mortgage rates will likely continue hovering between 3.75% and 4.25% for much of the year.
Calgary housing market update
The Calgary housing market continued losing steam in August. Sales were down almost 9% year-over-year.
The decrease in sales may have more to do with tariff-impacted buyer mentality than market conditions, because buyers have a ton of inventory to choose from.
At the end of August, there were almost 6,700 active listings left on the market in Calgary, the highest figure for the month since 2019. So it makes sense that prices have softened a little.
The overall benchmark price in the city, $577,200, was down 4.1% versus August 2024. Detached and semi-detached prices remained firm, however. The benchmark detached price in Calgary was still over $755,000, while the benchmark semi-detached price was a hair above $678,000.
Land transfer taxes in Calgary
Alberta charges two fees: one to process the transfer of the property title and another to register your mortgage.
- You'll pay $50 plus an additional $2 per $5,000 of the property's purchase price for the title transfer.
- For the mortgage registration, you'll pay $50 plus $1.50 for each $5,000 of your mortgage amount.
Mortgage calculators
Frequently asked questions
How do Calgary lenders determine mortgage rates?
How do Calgary lenders determine mortgage rates?
The mortgage rate you’re offered in Calgary will be based on two primary factors; one based on the state of the economy and one based on your financial situation.
Economic factors
Variable mortgage rates are influenced by the Bank of Canada’s overnight rate. When the overnight rate increases or decreases, a lender’s prime rate follows suit. Variable mortgage rates are based on a lender’s prime rate, so as the prime rate rises or falls, so do variable rates.
Fixed mortgage rates are determined by activity in the government bond market, particularly the yields on one-, three- and five-year bonds. Fixed mortgage rates follow the movement of those yields.
Your financial situation
Factors specific to you also affect the rates you’re offered. These include:
Your credit score.
Your income.
Your total debts.
The loan type you choose.
The amount you’re borrowing.
The term length and amortization period of your loan.
Lenders look for signs of risk when assessing these aspects of your finances. The riskier they perceive you to be as a borrower, the higher the rate they’re likely to offer you.
Will mortgage rates come down in 2025?
Will mortgage rates come down in 2025?
The Bank of Canada overnight rate has been unchanged since March. If the bank lowers the rate, lower variable mortgage rates will follow. Fixed mortgage rates will likely continue hovering between 3.75% and 4.25% for much of the year.
How do you qualify for a lower mortgage rate in Calgary?
How do you qualify for a lower mortgage rate in Calgary?
While some factors that affect rates are beyond your control, there are things you can do to encourage lenders to offer you the best mortgage rates. For example, you can:
Improve your credit score. To start, pay down any outstanding debt and pay off every bill in full.
Increase your income. This isn’t always easy, but any additional income will improve your financial position.
Decrease your total debts. Lenders consider your total debt load when determining the details of your loan.
Consider all your options. See if adjusting the loan type, the term length or the amortization period of your loan could help.
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Clay Jarvis
Clay Jarvis