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: June 2026 update

On June 16, 2026, the Canadian Real Estate Association (CREA) released its May 2026 housing data for Alberta, highlighting trends in sales, pricing, and inventory. Home sales in the province fell by 12% year over year, with 7,551 properties changing hands in May. Despite softer activity, Alberta’s average home price rose 3.6% annually to $543,602.

New listings decreased by 3.7% compared to May 2025, with 13,995 homes brought to market. Even with this drop in supply, months of inventory — which measures how long it would take to sell all active listings at the current pace — increased to 3.1 months, up by 0.6 months from a year earlier. 

The sales-to-new-listings ratio (SNLR) declined to 54.0% from 59.1% last year. While this marks a slight drop from stronger conditions, the ratio remains within CREA’s 45–65% balanced range. With momentum and inventory easing, Alberta’s housing market appears to be settling into more balanced territory, rather than clearly favoring either buyers or sellers.

What the July 15 Bank of Canada announcement means if you have a mortgage

On July 15, 2026, the Bank of Canada left its overnight interest rate unchanged at 2.25%, marking the sixth consecutive time it has kept the benchmark rate at the same level. The widely expected decision means borrowing costs tied directly to the Bank's policy rate remain stable, while policymakers continue to monitor moderating inflation, improving economic growth and ongoing global uncertainty.

• For Canadians with variable-rate mortgages, today's announcement brings continued certainty as the prime rate remains at 4.45%. There will be no change to interest rates, monthly mortgage payments or the amount of each payment that goes toward interest.
• Fixed mortgage rates are driven primarily by Government of Canada bond yields rather than the Bank of Canada's overnight rate. Although the Bank chose to hold rates, bond yields have climbed in recent days following renewed geopolitical tensions. While the lowest insured five-year fixed mortgage rate remains at 3.94%, most lenders have already moved back above the 4% mark, making today's lowest rates increasingly difficult to secure.
• The latest announcement reinforces that borrowing conditions are unlikely to improve dramatically in the near term. The Bank said Canada's housing market is beginning to stabilize, while CREA has lowered its home sales forecast amid continued economic uncertainty. With home prices no longer declining as quickly and fixed mortgage rates edging higher, waiting may not result in significantly lower financing costs later this year.
• Beyond the housing market, today's rate hold also means no changes to borrowing costs for other variable-rate financial products, including HELOCs, personal loans and lines of credit. 

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