Find the best mortgage rate 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.

December 2025 Calgary housing market update

On December 1, 2025, the Calgary Real Estate Board (CREB®) released its November housing market update, reporting that activity continued to cool in line with seasonal expectations. Total residential sales fell 13.4% year-over-year to 1,553 units, while new listings declined modestly to 2,251, a 3.3% annual drop. 

With fewer new listings entering the market, the sales-to-new-listings ratio improved to 69%, helping slow the pace of supply growth. Even so, overall inventory rose to 5,581 units, sitting almost 28% higher than last year and remaining more than 15% above long-term November norms. This pushed months of supply up to 3.59, a 48% increase compared to last November.

The growing supply across resale, new-build, and rental markets is exerting the most pressure on higher-density pricing. In November, Calgary’s unadjusted total residential benchmark price fell to $559,000, down 4.6% year-over-year. Apartment prices declined by roughly 7%, row homes by 6%, and detached homes by 2% compared to last November. Despite the annual pullback, detached prices remain higher on a year-to-date basis, while apartment and row benchmarks continue to face the steepest adjustments.

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.

Sources:

1. Alberta.ca
2. Fun World Facts
3. CREA
4. Statistics Canada