Current Mortgage Rates in Alberta
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Alberta mortgage rates you can get from a broker
Big Six mortgage rates available in Alberta
3-Year Fixed | 4.57% | 4.41% | 4.54% | 4.43% | 6.05% | 4.524% |
3-Year Variable | 8.03% (open) | 4.42% | -- | -- | 6.10% | -- |
5-Year Fixed | 4.51% (insured) 4.66% (uninsured) | 4.21% (insured) 4.56% (uninsured) | 4.43% (insured) 4.63% (uninsured) | 4.32% (insured) 4.62% (uninsured) | 6.09% | 4.661% (insured) 4.661% (uninsured) |
5-Year Variable | 4.42% | 4.52% | 4.64% | 3.93% (insured) 4.23% (uninsured) | 5.15% | 4.561% |
Rates in bold are discounted, annual percentage rates (APR), which include additional fees.
Alberta mortgage rate update: October 2025
October should be a month of stability for mortgage rates in Alberta.
Variable mortgage rates will stay at their current levels until at least October 29, when the Bank of Canada is scheduled to announce its next overnight rate decision. A rate cut from the Bank will result in a similar decrease in variable rates. (After the Bank reduced the overnight rate from 2.75% to 2.5% on September 17, variable rates dipped by as much as 30 basis points at some lenders.)
Expect variable rates to hover around 4% for most of October, though some brokerages and direct lenders are offering variables for considerably less.
Fixed mortgage rates might also be static this month. Government bond yields, which fixed mortgage rates tend to follow, have somewhat flattened out after falling for much of September. If yields avoid any dramatic shifts, fixed rates will, too.
Fixed rates may not dip this month, but they’re still fairly approachable. Brokers are offering three- and five-year fixed rates for less than 3.9%, but they’re still well over 4% at Canada’s biggest banks.
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.
Here's what Alberta mortgage rates are likely to do in 2025
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.
How to get a lower mortgage rate in Alberta
While some factors that affect rates are beyond your control, there are things you can do to encourage Alberta’s lenders and brokers 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.
Frequently asked questions
What's today's mortgage rate in Alberta?
What's today's mortgage rate in Alberta?
There’s no single mortgage rate in Alberta. Rates differ based on the lender, rate type and term length. For example, fixed and variable rates in Alberta are currently around 3.9% at mortgage brokers but well over 4% at major banks.
What’s a good mortgage rate in Alberta right now?
What’s a good mortgage rate in Alberta right now?
As of October 2025, the lowest fixed and variable mortgage rates in Alberta are around 3.7%.
Are mortgage rates in Alberta different than in B.C. or Ontario?
Are mortgage rates in Alberta different than in B.C. or Ontario?
Currently, no. National lenders and mortgage brokers tend to offer similar rates to home buyers in these provinces, especially in large urban centres.
How can I get a lower mortgage rate in Alberta?
How can I get a lower mortgage rate in Alberta?
Getting a lower mortgage rate generally means presenting yourself as a low-risk borrower to Alberta’s lenders and brokers. You can do this by making a larger down payment, lowering your debt service ratios and paying off other debts.
What’s the minimum down payment for a house in Alberta?
What’s the minimum down payment for a house in Alberta?
Minimum down payment rules are the same in every province. To get a mortgage in Alberta, you’ll have to put at least 5% down on a home worth up to $500,000. If the home is worth between $500,000 and $1.5 million, you’ll need to put down 5% of the first $500,000 and 10% of the remaining amount. For homes worth more than $1.5 million, a 20% down payment is required.
How are mortgage rates determined in Alberta?
How are mortgage rates determined in Alberta?
Mortgage rates are influenced by economic factors, like the Bank of Canada’s overnight rate (variable rates) and government bond yields (fixed rates). The rate you’re ultimately offered will depend on your savings, income, debt and credit score.
8Twelve has partnered with over 65 Canadian mortgage lenders to provide competitive rates on over 7,000 mortgage products. 8Twelve can quickly match you with a lender and mortgage type that meets your needs — even if your financial situation is unique.
How to get a mortgage in Alberta
Explore different types of lenders
There are many places to get a mortgage in Alberta. In addition to Canada’s biggest banks, you can also find mortgages at:
Credit unions.
Monoline lenders, which only provide mortgages.
Alternative lenders, which often service borrowers with lower credit scores.
Private lenders, which can range from individuals to large nationwide companies.
Here are some examples of different mortgage providers in Alberta. You can find reviews of several of them in our mortgage review hub.
Banks | Credit Unions |
|---|---|
ATB Financial | Servus Credit Union |
Canadian Western Bank | ConnectFirst Credit Union |
Royal Bank of Canada | Vision Credit Union |
Scotiabank | Bow Valley Credit Union |
TD Canada Trust | Rocky Credit Union |
Brokerages | Direct Lenders |
True North Mortgage | First National Financial |
Mortgage Architects | nesto |
Dominion Lending Centres | MCAP |
CanQuest Mortgage | Home Trust Corporation |
Centum | Canadiana Financial |
Make sure you're prepared
Getting a mortgage in Alberta isn’t any different than getting one in any other province. The real differences are often at the lender level, where you might encounter different mortgage rates and lending guidelines.
Getting a mortgage in Alberta generally involves the following steps:
Checking your credit score. If your credit score’s below 620, it might limit the lenders you’re able to borrow from. If it’s relatively low in general, this might be an opportunity to pay down some debt prior to applying for a mortgage.
Comparing mortgage rates. View rates from multiple sources — banks, credit unions and mortgage brokers — to help determine who you’d like to work with.
Getting pre-approved for a mortgage. Reach out to a lender and have them take a thorough look at your finances. Once this process is complete, you’ll have an accurate estimate of what you’ll be able to borrow and how much you’ll pay in interest charges.
Finding a home and putting in a successful offer. This isn’t something you can do safely without being pre-approved first.
Formally applying for a mortgage. Even though you’ve been pre-approved, your lender will need to give your finances a final evaluation before signing off on your loan.
What it's like to renew a mortgage in Alberta
Renewing a mortgage in Alberta generally involves the same process you’ll encounter in the rest of Canada. But being in a more populous province should give you plenty of lender options.
You should approach your mortgage renewal the same way you’d approach a home purchase: compare your mortgage rate options thoroughly so you can make an informed decision.
When renewing your mortgage in Alberta, keep the following in mind:
Your lender’s initial renewal rate offer won’t be their best. Be prepared to negotiate.
Consider using a mortgage broker, who can compare renewal rates from a wider range of lenders than a bank’s mortgage adviser.
Start the process early and give yourself time to find the product and lender that best suits your current financial situation.
Refinancing a mortgage in Alberta
Refinancing a mortgage in Alberta shouldn’t be any more difficult than it would be anywhere else. The rates you’ll encounter will be similar to those in other provinces, although refinance rates are generally higher than what lenders offer on home purchases.
Prepare yourself for refinancing your mortgage by exploring our mortgage refinancing guide and by comparing current mortgage finance rates.
Mistakes to avoid when getting a mortgage in Alberta
Choosing a mortgage based solely on rate. The lowest rate available might be attached to a mortgage with limited features. Discuss the details with your lender or mortgage broker.
Not comparing a variety of lenders. There are a lot of mortgage providers in Alberta. Make sure you’re comparing banks, brokers and credit unions so you don’t miss out on what might be the ideal mortgage for your needs.
Not negotiating. Mortgage rates are negotiable. Always ask a lender or broker what more they can do to decrease the rate you’re offered.
Borrowing too much. Borrowing the maximum amount allowed by your lender can help you buy more house, but it can mean less money for essentials, savings and investments.
Things to think about when buying a home in Alberta
Using a first-time home buyer program
Some first-time home buyers in Alberta can take advantage of assistance programs offered by both regional and government programs. F
or example, Attainable Homes Calgary (AHC) helps people with a household income of up to $131,424 fund a down payment. If you sell your home later, you repay AHC the loaned amount plus a portion of any equity appreciation.
Paying land transfer taxes
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.
Understanding the Alberta housing market
The average price for an Alberta home in August was $502,684, a slight increase of 1.6% compared to August 2024.
The number of homes for sale increased, as new listings outpaced sales by nearly 4,000, according to the Alberta Real Estate Association. In general, excess supply has a positive effect for buyers.
Buyers in Grande Prairie, Medicine Hat and Lethbridge may not relate to the province-wide averages: they face a declining supply, and year-over-year prices in those cities rose by at least 10%.
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Clay Jarvis