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: July 2025 update

On July 15, 2025, the Canadian Real Estate Association (CREA) released its June housing data for Alberta, highlighting trends in sales, pricing, and inventory. Home sales in the province fell by 4.8% year over year, with 8,055 properties changing hands in June. Despite the decrease in activity, Alberta’s average home price increased by 3.4% annually, bringing it to $522,698.

New listings increased by 9% compared to the same time last year, with 12,665 homes brought to market in June. As a result, the months of inventory, which reflects how long it would take to sell all active listings at the current pace, rose to 2.7, up from 2.2 a year ago. This suggests that supply is beginning to outpace demand.

The sales-to-new-listings ratio (SNLR) dipped to 63.6% from 72.8% last year, indicating a strong shift toward a balanced market. CREA considers a ratio between 45% and 65% to represent a balanced market. With Alberta now within that range, conditions appear to be stabilizing, offering a more even playing field for both buyers and sellers.

Read more: National home sales continue to recover in June

July 30, 2025: The Bank of Canada announcement highlights

On July 30, 2025, the Bank of Canada kept its benchmark overnight lending rate at 2.75%, marking its third consecutive pause. This follows seven rate cuts between June 2024 and March 2025, which lowered the rate by 225 basis points from its peak of 5%.

• The decision comes amid persistent trade tensions and inflationary pressures. The Bank noted that core inflation remains above the 2% target, and ongoing tariffs and global trade disruptions continue to pose risks that prevent further rate cuts for now.
• With the overnight rate unchanged, the prime rate remains at 4.95%, leaving variable-rate mortgages, HELOCs, and other prime-linked borrowing costs unaffected.
• Fixed mortgage rates remain elevated, driven by volatile bond markets rather than direct BoC policy. The Government of Canada’s five-year bond yield reached above 3% in mid-July, pushing the lowest five-year fixed insured mortgage rate to 3.89%. 
• Savings and investment products such as GICs and high-interest savings accounts are also unchanged, offering steady, reliable returns that remain attractive amid ongoing market uncertainty.
• Looking forward, the Bank indicated that rate cuts remain possible later in 2025, depending on how trade-related price pressures and domestic economic weakness evolve. Policymakers remain focused on the balance between slowing growth and inflation risks.

Read more: Bank of Canada leaves target interest rate unchanged at 2.75% in July 2025 announcement

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