Best Mortgage Rates in Alberta
Compare Alberta mortgage rates from Canada’s top lenders and brokers in minutes.Editor’s Note: The Bank of Canada will make its next overnight rate decision on Wednesday, July 30. Analysts aren’t expecting a rate change. NerdWallet will make updates as more information becomes available.
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Alberta mortgage rate update: July 2025
Variable rates are holding steady.
The BoC could change rates on July 30.
Fixed rates have seen recent declines, but could increase.
July has brought a new sense of uncertainty to Alberta mortgage rates.
In the last half of June, falling government bond yields allowed lenders and brokerages to lower their fixed rate offers. But July has seen those bond yields start creeping up again. If those bond yields keep increasing over a sustained period of time, fixed rates are likely to edge up, too.
As of July 8, 2025, three- and five-year fixed mortgage rates can still be found for around 3.9% at some brokerages, but they’re generally 4% or higher. If you’re worried about rates rising before you secure a mortgage this summer, consider getting pre-approved and locking in a rate sooner rather than later.
Variable mortgage rates have been stable since the Bank of Canada decided to hold its overnight rate at 2.75% on June 4. The country's lowest variable mortgage rates will stay around 4% until at least July 30, when the BoC is scheduled to make its next overnight rate announcement.
A rate cut in July will depend on both inflation and the state of Canada's tariff-rattled economy, so it'll be a challenging call for the Bank to make. Analysts expect the BoC to cut its overnight rate another two times this year, which could shave at least 0.5% off of current variable rates.
A July rate cut would make variable rates the most affordable option for borrowers in Alberta. It's been over two years since that was the case.
What’s a good mortgage rate in Alberta right now?
As of July 2025, some mortgage brokers in Alberta are offering fixed rates for around 3.9% and variable rates for around 4%.
The rate offers you receive depend on factors like your credit score, total debt level and income, and whether you apply at a major bank or through a mortgage broker.
2025 Alberta mortgage rate forecast
Mortgage rates may decrease further in the second half of 2025.
The Bank of Canada is expected to reduce its overnight rate again twice before the end of the year, which would lower variable mortgage rates by at least 0.5% versus today’s levels.
Fixed mortgage rates will likely continue hovering between 3.75% and 4.25% for the remainder of 2025.
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.
Alberta housing market update
In June, the total residential average price in Alberta was $525,119 — up 3.1% compared to June 2024, according to the Alberta Real Estate Association. Sales were down 4.2% year-over-year while inventory was up 19.1%.
The average residential price in specific markets includes:
Calgary: $646,006.
Edmonton: $431,582.
Lethbridge: $439.818.
Alberta home buyer resources
Alberta first-time home buyer programs
Some first-time home buyers in Alberta can take advantage of assistance programs offered by both regional and government programs. For 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.
Land transfer taxes in Alberta
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 Alberta lenders determine mortgage rates?
How do Alberta lenders determine mortgage rates?
The mortgage rate you’re offered in Alberta 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 Alberta?
How do you qualify for a lower mortgage rate in Alberta?
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