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Current Mortgage Rates in Alberta


We shop the most competitive brokers, lenders and banks in Alberta to bring you today's lowest interest rates, free of charge! Our comparison charts list current Alberta rates, and are updated on a daily basis. To compare a certain category, click on the "See All" button for more details.

Rates Updated:  

Closed mortgage rates - Alberta

          Closed mortgage rates Closed mortgage rates are the most popular, standard form in Canada. A closed mortgage simply means you pay off your principal on a pre-determined schedule. If you want to put a lump sum against your principal beyond your pre-payment options, you will incur a penalty.
Term Lowest Fixed
Mortgage Rates
Lowest Variable
Mortgage Rates
1-Year Coast to Coast Mortgage Group
Coast to Coast Mortgage Group
2.64% Get rate See all rates
2-Year MortgagePal.ca
MortgagePal.ca
2.34% Get rate See all rates
3-Year MortgagePal.ca
MortgagePal.ca
2.49% Get rate See all rates MortgagePal.ca
MortgagePal.ca
2.40%
Prime - 0.60
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4-Year MortgagePal.ca
MortgagePal.ca
2.74% Get rate See all rates
5-Year Coast to Coast Mortgage Group
Coast to Coast Mortgage Group
2.84% Get rate See all rates MortgagePal.ca
MortgagePal.ca
2.25%
Prime - 0.75
Get rate See all rates
6-Year Marc Crossman
Marc Crossman
3.89% Get rate See all rates
7-Year MortgagePal.ca
MortgagePal.ca
3.74% Get rate See all rates
8-Year PC Financial
PC Financial
4.56% Get rate See all rates
9-Year PC Financial
PC Financial
4.67% Get rate See all rates
10-Year MortgagePal.ca
MortgagePal.ca
4.29% Get rate See all rates

HELOC Rates - Alberta

          HELOC Rates A HELOC rate is a variable interest rate on a line of credit that is secured by your home. As the equity in your home grows, you are able to borrow back up to 80% at the HELOC rate.
HELOC        HELOC Rates A HELOC rate is a variable interest rate on a line of credit that is secured by your home. As the equity in your home grows, you are able to borrow back up to 80% at the HELOC rate. Laurentian
Laurentian
3.50%
Prime + 0.50
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All-in-One        All-in-One HELOC An 'All-in-One' rate is one that combines a HELOC with your savings and deposit accounts. So, any deposits offset your debt in a daily interest calculation. Manulife One
Manulife One
3.50%
Prime + 0.50
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Cash back mortgage - Alberta

          Cash back mortgage A cash back mortgage returns a lump sum, usually 3-7%, when your mortgage closes. If your principal is, for example, $300,000, a 5% cash back would return to you $15,000 when your mortgage closes.
5-Year Marc Crossman
Marc Crossman
4.40%
3% Cash Back
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6-Year TD Bank
TD Bank
5.96%
5% Cash Back
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7-Year PC Financial
PC Financial
5.69%
5% Cash Back
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10-Year PC Financial
PC Financial
6.09%
5% Cash Back
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Open mortgage rates - Alberta

          Open mortgage rates Open mortgage rates allow you to pay off as much of your principal as you please whenever you wish, without penalty. Open mortgage rates are less popular than closed mortgage rates, but are often used for a short-term mortgage.
Term Lowest Fixed
Mortgage Rates
Lowest Variable
Mortgage Rates
1-Year Marc Crossman
Marc Crossman
6.30% Get rate See all rates
3-Year Bank of Montreal
Bank of Montreal
4.00%
Prime + 1.00
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5-Year Scotiabank
Scotiabank
3.80%
Prime + 0.80
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Bank Mortgage Rates - Alberta

          Bank Mortgage Rates Bank mortgage rates are simply rates offered by the big Canadian banks. You should always compare these against the best available rates on the market.
Term Lowest Fixed
Mortgage Rates
Lowest Variable
Mortgage Rates
1-Year CIBC
CIBC
2.99% Get rate See all rates
2-Year HSBC
HSBC
2.75% Get rate See all rates
3-Year TD Bank
TD Bank
3.44% Get rate See all rates Laurentian
Laurentian
3.00%
Prime - 0.00
Get rate See all rates
4-Year TD Bank
TD Bank
2.77% Get rate See all rates
5-Year Scotiabank
Scotiabank
3.09% Get rate See all rates HSBC
HSBC
2.55%
Prime - 0.45
Get rate See all rates
10-Year Tangerine
Tangerine
4.69% Get rate See all rates

Lowest Mortgage Rates in Alberta


RateHub shops banks, brokers and credit unions to bring you Alberta’s best mortgage rates. Our Mortgage Rate Comparison chart above showcases today’s cheapest mortgage rates in Alberta. To compare all rates within a certain category, click on the "See All" button for more details.

Why should I compare mortgage rates in Alberta?


Mortgages can vary widely based on rates, terms and conditions. Banks, credit unions, and private lenders all have specialized mortgage solutions that cater to specific financing needs. Use our best rates section and education centre to compare and learn about the best mortgage for you at current rates.

Should I get an open or closed mortgage rate in Alberta?


Open and closed mortgages vary both in their interest rates and their terms and conditions. Open mortgages often have higher interest rates, but allow borrowers to make changes to their mortgage payments without restriction. An open mortgage also allows borrowers to make unrestricted lump-sum payments to reduce the principal of their mortgage.

Closed mortgages generally have lower interest rates than their open counter parts. They are the more popular choice in Alberta. You can usually make some increases to monthly payments, or make lump sum payments, however the amounts are restricted and penalties for overpayment will apply.

What is the difference between a variable vs. fixed mortgage rate in Alberta?


Variable mortgages have lower rates than fixed mortgages at the beginning of the mortgage term. Variable interest rates will rise or fall over the term of the mortgage contract because their interest rates are tied to prime.

Fixed mortgages offer the stability of a set mortgage rate for the entire mortgage term. This stability is attractive to many homeowners who rely on the predictable mortgage payments for household budgeting. Historically, 66% of all mortgages in Alberta are fixed.

What is the mortgage ratehold?


Rateholds allow you to lock in Alberta’s current mortgage rates for a certain number of days to benefit from today’s low rates. For example – a 90-day ratehold would allow you to lock in the current mortgage rate for 90 days before your mortgage renewal date or mortgage closing date.

Alberta Housing Market Update1


The Alberta economy is ramping up with the recovery of oil prices. Drilling and energy exploration will increase in 2011 as a result of the provincial crown petroleum and natural gas rights being auctioned off at record levels. The increasing investment in the oil sands projects will also lead to an increase in the Albertan economy. These economic increases will lead to a decrease in the unemployment rate, and both interprovincial migration and international migration will continue to grow throughout 2011 and 2012. These positive increases in the economy and migration will positively affect the housing market overall.

 

Metropolitan Area

Year

Housing Starts

MLS Total Sales

 MLS Average Sale Price 

Edmonton

2010

2011(*)

2012(*)

9959

9600

10500

16200

16500

17200

$        329,400  

$        331,500

$        339,000

Calgary

2010

2011(*)

2012(*)

9262

8800

9900

20996

21500

22100

$        398,764  

$        401,000

$        409,000

(*)forecast

[1] CMHC

Alberta Mortgage Brokers


If you want current, personal, advice simply click on the link above to connect with an Albertan mortgage broker near you.  Brokers can help by giving you advice on current mortgage deals, your credit history, or help you with a special type of mortgage like cash back or HELOC. Brokers can also help with information on home purchases, lenders, current interest rates , and great mortgage solutions.