Current Mortgage Rates in Edmonton
Browse our aggregated Edmonton mortgage rates to find the lowest rates possible. Click “See all” to compare.
|1-yr||2.24% MortgagePal.ca Compare all rates|
|2-yr||2.13% CanWise Financial Lic. 12530 Compare all rates|
|3-yr||2.25% CanWise Financial Lic. 12530 Compare all rates|
|4-yr||2.39% CanWise Financial Lic. 12530 Compare all rates|
|5-yr||2.44% CanWise Financial Lic. 12530 Compare all rates|
|6-yr||2.99% CanWise Financial Lic. 12530 Compare all rates|
|7-yr||3.04% Marc Crossman Dominion Lending Centres Compare all rates|
|9-yr||5.12% Marc Crossman Dominion Lending Centres Compare all rates|
|10-yr||3.59% CanWise Financial Lic. 12530 Compare all rates|
Prime - 0.60MortgagePal.ca Compare all rates
Prime - 0.90CanWise Financial Lic. 12530 Compare all rates
Current Edmonton Mortgage Rate News
Best Edmonton mortgage rates
Edmonton mortgage rates are expected to remain low, although some economists believe a moderate rate hike could occur in 2017. Discounted 5-year variable rates from the big banks will likely stay close to 2.70% (Prime-0.0%).
As the fifth-largest city in Canada, Edmonton is known as Canada's festival city, hosting over 30 festivals each year. It is also home to many world-known attractions such as the West Edmonton Mall – the fifth largest mall in the world, along with various world-class restaurants and entertainment centers. With a population of over 1 million, it has one of the most diversified economies in Canada and one of the strongest labour markets.
The Edmonton housing market1
Edmonton's housing market is one of the most affordable in the Canada, according to an RBC market survey. Edmonton homes cost 31.2% of the typical household income – considerably low relative to the rest of Canada – using RBC's housing affordability index. In recent years, affordability has decreased slightly as household income has dropped. Nonetheless, affordability and pricing has been relatively stable.
|MLS® Sales||MLS® Avg Price||Housing Starts|
Edmonton housing starts are expected to stay relatively the same over the next two years. The decrease in housing starts from 2015 to 2016 is largely due to the slowdown in employment growth and lower consumer confidence in Edmonton. Meanwhile, vacancy rates are expected to rise to 4.2% as demand lowers.
Edmonton mortgage brokers
Getting in touch with an Edmonton mortgage broker who has a firm understanding of the local housing and mortgage market can be beneficial if you're looking to buy a home in the city. A mortgage broker will handle all the rate negotiations so you can gain access to the best mortgage rates in Edmonton.
References and Notes
- Data taken from CMHC