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Best Calgary mortgage rates

The rate table shows 5-year fixed mortgage rates in Calgary. To compare other rate types and terms, click on the filters icon beside the down payment percentage.

As of:


Canadian Lender


Big 6 Bank


CMLS Financial



A Ratehub Company


First National


Equitable Bank


Calgary mortgage rates: FAQ

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Getting the best mortgage rates in Calgary

Calgary is one of the largest cities in Western Canada, and among the nation’s most important economic drivers. Located in the foothills of the Rocky Mountains, the city is popular among locals and newcomers alike for its outdoor lifestyle opportunities, as well as being a business centre, with many oil and gas companies headquartered there. Calgary real estate has also historically been more affordable than in other major Canadian city centres.

If you’re looking to get a new mortgage in Calgary or it’s time to renew your current mortgage, comparing mortgages should be a high priority. Taking the time to get a mortgage with a great rate and features that suit your lifestyle is a good investment, and will pay off for years to come.

Best mortgage rates in Calgary +

Calgary at a glance

  • Population: 1.4 million - largest city in Alberta, 3rd largest city in Canada
  • Average Home Price: $572,300 in January 2024
  • Average Household Income: $99,388
  • Percentage of Homeowners: 74% 

Fun Facts About Calgary 

  • Calgary is the sunniest major city in Canada, with 333 days of sunshine per year.
  • Calgary is famous for hosting the annual Calgary Stampede, which is the world's largest rodeo.

February 2024 Calgary housing market update

On February 1, 2024, the Calgary Real Estate Board (CREB) released the most recent housing market numbers for the month of January 2024. The latest figures from CREB indicate that 2024 has started off with a bang for the Calgary housing market. A total of 1,650 residential properties changed hands over the course of January, outpacing December’s total of 1,366, and up by a whopping 37.7% from the same time last year.

The 2,137 homes newly listed in January mark a 15.4% annual increase (and well above December’s 1,248), but this new supply wasn’t enough to address the chronic lack of inventory in Calgary. “This month's gain in new listings has helped provide options to potential purchasers, supporting sales growth. However, the growth in sales prevented any significant adjustments in supply, keeping conditions tight and supporting further price growth,” says Ann-Marie Lurie, Chief Economist at CREB. As a result, competition in the Calgary market remains extremely fierce. The sales-to-new-listings ratio (SNLR) stood at a blistering 77%, while months of supply was a mere 1.3 months, down by -36.3% on an annual basis. According to the Canadian Real Estate Association (CREA), a ratio within 40- 60% is a balanced market, with above and below that threshold indicating sellers’ and buyers’ markets, respectively.

The average home price in Calgary in January 2024 was $572,300, slightly higher than December, but 10% higher than the same month in 2023.

Resources for buying a home in Calgary

Calgary closing costs

In Calgary, closing costs are fairly minimal, thanks to the lack of any land transfer tax. However, there are still some closing costs to consider, some of which cannot be added to your mortgage. Make sure you have enough saved to cover these in addition to your down payment.

  • Land transfer and mortgage fees: While Alberta doesn't have a land transfer tax, there are land transfer and mortgage fees to pay with every property purchase. Luckily, these fees are still less than land transfer taxes in some other provinces. Learn more on our page about Alberta land transfer fees.
  • Mortgage default insurance: If your down payment is less than 20% of the purchase price, you'll need to pay for mortgage default insurance, also called CMHC insurance. The premium will be added to your mortgage, so you won't need to pay it up-front. Regardless, you'll have to account for it on top of your new home purchase. Note that unlike some provinces, PST does not apply to mortgage default insurance premiums in Alberta.
  • GST: GST only applies to newly built properties, or on construction work you have done yourself. If you are buying a brand new property, Calgary’s 5% GST will apply. This can generally be included in your mortgage.
  • Legal fees: All property transactions require changes to the land title, which must be done by a real estate lawyer licensed to practice in Alberta.
  • Adjustment costs: Some taxes and fees may have been pre-paid by the seller. You'll need to reimburse them for these costs when you settle the sale. 

Learn more on our closing costs education centre page.

Calgary GST rebate

There is a national rebate available for the GST charged on some new buildings that you can use in Calgary. For new homes up to $350,000 in value, you can claim 36% of the GST. For homes between $350,000 and $450,000, there are partial rebates available.

Learn more about the GST/HST rebate here.

Calgary first-time home buyer programs

There are no first-time home buyer programs specific to Calgary. This is because most provincial first-time home buyer programs come in the form of land transfer tax rebates, but Calgary has no land transfer tax.

That said, new homebuyers in Calgary are still eligible for federal first-time home buyers' programs.



  2. Fun World Facts
  3. CREA
  4. Statistics Canada

Jamie David, Director of Marketing and Head of Mortgages

Jamie has 15+ years of business and marketing experience. She contributes her mortgage expertise to The Globe and Mail and authors Ratehub’s mortgage and homebuying guides. read full bio

Want to learn more? Check out our comprehensive education centre


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