Best Mortgage Rates in Alberta
Compare Alberta mortgage rates from Canada’s top lenders and brokers in minutes.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.
Alberta mortgage rate update: June 2025
Variable rates are holding steady.
The BoC could change rates on July 30.
Fixed rates have seen recent upticks.
On June 4, 2025, the Bank of Canada decided to hold its overnight rate at 2.75%. Maintaining the overnight rate means variable mortgage rates in Alberta will stay at their current levels until at least July 30, when the Bank is scheduled to make its next overnight rate decision.
The lowest variable rate offers remain around 4% at several mortgage brokerages, but are higher at the country’s largest banks.
A rate hold in June was expected, as April’s high inflation numbers made cutting rates a risky proposition. Analysts expect the Bank of Canada to cut its overnight rate at least twice more in 2025, which would shave at least 0.5% from variable mortgage rates.
Fixed mortgage rates have been a little more volatile, as lenders respond to activity in the government bond market.
Government bond yields rose for much of May, and were up in the first few days of June. When yields rise, fixed rates tend to follow suit.
Sure enough, three- and five-year fixed rates have been edging up in Alberta.
As of June 4, 2025, fixed-rate offers had climbed north of 4.1% at many mortgage brokerages. If bond yields continue to rise, 4.1% might look like a bargain in a few weeks.
What’s a good mortgage rate in Alberta right now?
As of June 2025, some mortgage brokers in Alberta are offering fixed rates for around 4.1% 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 much of the 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 May, the total residential average price in Alberta was up 4% compared to May 2024, according to the Alberta Real Estate Association. However, not all home types increased in price: The average prices for row houses and apartments fell 3% while detached and semi-detached homes were up about 4% and 3%, respectively.
Other notable monthly trends include:
⬇️ Alberta home sales were down 8.3% in May compared to May 2024.
⬆️ Inventory was up: there was a 10.4% increase in new listing compared to May 2024, and overall inventory is up 18%.
Average residential prices in specific markets included:
Calgary: $649,268.
Edmonton: $429,965.
Lethbridge: $410,392.
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.
Sources
NerdWallet writers are subject matter authorities who use primary, trustworthy sources to inform their work, including peer-reviewed studies, government websites, academic research and interviews with industry experts. All content is fact-checked for accuracy, timeliness and relevance. You can learn more about NerdWallet's high standards for journalism by reading our editorial guidelines.
- Alberta Real Estate Association. Province of Alberta Monthly Statistics. Accessed Jun 16, 2025.
Sources
NerdWallet writers are subject matter authorities who use primary, trustworthy sources to inform their work, including peer-reviewed studies, government websites, academic research and interviews with industry experts. All content is fact-checked for accuracy, timeliness and relevance. You can learn more about NerdWallet's high standards for journalism by reading our editorial guidelines.
- Alberta Real Estate Association. Province of Alberta Monthly Statistics. Accessed Jun 16, 2025.
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