Find the best mortgage rate in Alberta

Our rate tables allow you to view the most current mortgage rates in Alberta instantly, all in one place. By comparing the rates and products offered by the Big 5 Banks, top mortgage brokers, smaller banks and credit unions, you can find the best mortgage to suit your needs and save thousands of dollars.

Alberta at a glance

• Population: 4.5 million 
• Average Household Income: $93,835
• Percentage of Homeowners: 72%
  

Alberta housing market: November 2026 update

Alberta’s housing market took another step backward in October. Home sales were down 8.2% from September, and 13.3% year-over-year, according to the Alberta Real Estate Association. Year-to-date, sales in Alberta were 10% lower than in the first 10 months of 2025.

Inventory continues building in Alberta. Even though new listings edged down by 5% year-over-year, active inventory, the number of homes still for sale at the end of a month, increased by 2%. At the end of October, there were 20,701 homes still for sale across the province. 

Despite the weaker sales and rising supply, home prices in Alberta remain sticky. October’s provincial average price, $526,682, was 0.7% higher than a year ago. 

State of the market: Uneven. Sales took a hit in Calgary, Edmonton, Red Deer and Grande Prairie, but they rose in Fort McMurray and stayed relatively flat in Medicine Hat and Lethbridge.

What the October 28 Bank of Canada announcement means for mortgages in Alberta

On October 28, 2026, the Bank of Canada raised its overnight rate for the first time in more than three years as a means of tamping down inflation. The 25-basis point increase was swiftly added to lenders’ prime rates, which had a knock-on effect on other borrowing costs:

• Variable mortgage rates in Alberta rose by an identical 25 basis points shortly after the Bank’s announcement. The lowest variable rate in Canada is 3.65%.
• Albertans with HELOCs, personal lines of credit or car loans also saw their interest rates increase, as these forms of credit tend to have variable interest rates.
• Fixed rates in Alberta were not impacted by the Bank’s decision. Lenders price their fixed rates based on Government of Canada bond yields. Earlier this year, yields rose due to high oil prices and heightened inflation expectations. 
• The Bank of Canada expects inflation to hit 3.5% before the end of 2026. Another rate hike, and higher variable mortgage rates, could land as early as December if the Bank’s estimate is accurate.

How do I get the best mortgage rate in Alberta?

Alberta’s lucrative oil and gas industry, among other draws, beckons thousands of Canadians to move there every year. As such, it’s no surprise that it’s also home to a thriving mortgage industry, with numerous lenders vying for your business. In addition to the Big 5 Banks and other national banks and credit unions, Alberta is home to a number of its own financial institutions headquartered there, including ATB Financial, Canadian Western Bank and Servus Credit Union. Numerous smaller banks, credit unions and mortgage brokerages are also players in the Alberta market. The best mortgage rates in Alberta are in the table above, updated in real-time.

However, the lowest rate is not always the best rate for you - your ideal mortgage is one that meets your needs and best fits your financial situation. Be sure to shop around between lenders and consult with a mortgage broker. They can help you navigate the different mortgage products available, and can provide you with expert, personalized advice on the pros and cons of each, all at no cost to you.

What factors affect your mortgage rate?

It’s great to see the lowest rates on offer in Alberta, but the rate you’ll actually qualify for is likely to be different than the lowest advertised rates. Some personal factors that influence your personal rate are:

• Your down payment: Every Canadian home purchase requires a cash down payment. The minimum is from 5% to 20% depending on the purchase price. If your down payment is less than 20%, you’ll have what’s called an insured mortgage, and you’ll be charged for mortgage default insurance. This covers your lender if you don't make your payments. While this costs you more, your bank will probably offer a lower rate, because your insurance reduces the risk.
• Your amortization period: You won’t be able to get insurance on a mortgage with an amortization period of over 25 years, so you’ll be charged a higher rate. That said, most mortgages in Alberta have amortization periods of 25 years or less.
• The purpose of the property: Your mortgage rates will be different if you plan to live in the new home. Rates are generally higher for mortgages on rental or investment properties.
• Mortgage type: You’ll be offered a higher rate if your mortgage is a refinance, rather than buying a new home or renewing your mortgage.
• Credit score: The best rates typically come from A lenders, which includes big banks and many credit unions. However, A lenders often won’t work with you if you have bad credit. If your credit forces you to borrow from a B lender, expect a higher rate.
  

   

Historical trends in Alberta mortgage rates

Alberta mortgage rates rise and fall, as do rates across Canada. Check out this interactive chart showing the lowest mortgage rates in Canada over the last few years to get a sense of where we are today.

Source: Ratehub Historical Rate Chart

Alberta land transfer tax

Unlike other provinces like Ontario and British Columbia, Alberta doesn’t have a land transfer tax. This makes the closing costs associated with buying a house in Alberta significantly lower than in other provinces.

In Ontario and BC, land transfer taxes add between 0.5% and 2.0% to the cost of every home, which can quickly get into the tens of thousands of dollars.

Alberta first-time home buyer programs

With no land transfer tax in Alberta, there aren’t any first-home buyer tax rebates at the provincial level. However, first-time home buyers in Alberta can access a range of federal government programs, including the first-time home buyer tax credit and the first-time home buyer incentive.

Read about those programs in our guide to Canadian first-time home buyer programs.

Sources:

1. Alberta.ca
2. CREA
3. Statistics Canada
4. AREA