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Alberta Mortgage Rates

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Last Updated: Nov 29, 2024

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Whether you're looking for a home or vacation or investment property, our highly trained True North Mortgage brokers can get your best rate possible. Plus, we can explain the ins and outs of how lenders see your application and what you can do to get an even better rate.

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We'll help you get the lowest rate possible for your situation. Our friendly mortgage brokers are knowledgeable, non-commissioned and able to pass along a volume discount to get your rate even lower, sometimes with your own bank. Our volume-based approach allows us to access a wide selection of lenders and products on your behalf — to help you save the most and reach your mortgage goals sooner.

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Historical Mortgage Rates

For Alberta - Last Updated Nov 13 2024

5 Year Fixed Rate

4.24% - 5.69%

  2024 (average)

4.70%

6.52%

  September

4.27%

5.77%

  August

4.47%

5.79%

  July

4.64%

5.79%

  June

4.69%

6.89%

  May

4.70%

6.89%

  April

4.84%

6.89%

  March

4.79%

6.89%

  February

4.92%

6.89%

  January

4.90%

6.89%

  2023 (average)

5.03%

6.33%

  December

5.12%

6.89%

  November

5.44%

6.89%

  October

5.62%

6.89%

  September

5.47%

6.89%

  August

5.37%

6.89%

  July

5.19%

6.39%

  June

4.92%

5.95%

  May

4.57%

5.84%

  April

4.84%

5.84%

  March

4.66%

5.84%

  February

4.67%

5.84%

  January

4.54%

5.84%

  2022 (average)

4.03%

4.82%

  December

4.69%

5.82%

  November

4.92%

5.74%

  October

5.01%

5.70%

  September

4.44%

5.54%

  August

4.34%

5.54%

  July

4.52%

5.54%

  June

4.37%

5.10%

  May

3.89%

4.66%

  April

3.72%

4.23%

  March

3.14%

3.64%

  February

2.76%

3.20%

  January

2.52%

3.07%

  2021 (average)

1.89%

2.41%

  December

2.39%

2.94%

  November

2.37%

2.91%

  October

2.09%

2.74%

  September

1.84%

2.39%

  August

1.79%

2.39%

  July

1.79%

2.39%

  June

1.79%

2.29%

  May

1.79%

2.29%

  April

1.89%

2.29%

  March

1.89%

2.29%

  February

1.62%

2.06%

  January

1.43%

1.99%

  2020 (average)

2.02%

2.43%

  December

1.49%

1.99%

  November

1.59%

1.99%

  October

1.62%

2.04%

  September

1.77%

2.05%

  August

1.82%

2.22%

  July

1.89%

2.39%

  June

1.99%

2.42%

  May

2.23%

2.65%

  April

2.43%

2.88%

  March

2.35%

2.68%

  February

2.49%

2.86%

  January

2.64%

3.01%

  2019 (average)

2.76%

3.09%

  December

2.55%

2.92%

  November

2.40%

2.92%

  October

2.52%

2.94%

  September

2.45%

2.85%

  August

2.47%

2.79%

  July

2.57%

2.84%

  June

2.66%

2.90%

  May

2.82%

3.09%

  April

2.92%

3.19%

  March

3.13%

3.38%

  February

3.32%

3.58%

  January

3.30%

3.69%

  2018 (average)

3.15%

3.61%

  December

3.39%

3.80%

  November

3.41%

3.83%

  October

3.22%

3.67%

  September

3.19%

3.67%

  August

3.19%

3.66%

  July

3.14%

3.61%

  June

3.14%

3.61%

  May

3.14%

3.61%

  April

3.00%

3.54%

  March

3.00%

3.54%

  February

3.04%

3.48%

  January

2.93%

3.37%

  2017 (average)

2.53%

2.88%

  December

2.79%

3.29%

  November

2.72%

3.29%

  October

2.84%

3.28%

  September

2.76%

3.16%

  August

2.59%

2.99%

  July

2.56%

2.78%

  June

2.39%

2.49%

  May

2.24%

2.54%

  April

2.30%

2.62%

  March

2.39%

2.72%

  February

2.39%

2.72%

  January

2.44%

2.74%

  2016 (average)

2.29%

2.58%

  December

2.42%

2.69%

  November

2.20%

2.47%

  October

2.09%

2.39%

  September

2.14%

2.49%

  August

2.24%

2.57%

  July

2.24%

2.57%

  June

2.24%

2.57%

  May

2.34%

2.59%

  April

2.34%

2.59%

  March

2.34%

2.69%

  February

2.39%

2.69%

  January

2.49%

2.69%

  2015 (average)

2.45%

2.66%

  December

2.47%

2.69%

  November

2.47%

2.69%

  October

2.33%

2.59%

  September

2.39%

2.59%

  August

2.39%

2.59%

  July

2.39%

2.59%

  June

2.44%

2.59%

  May

2.44%

2.59%

  April

2.44%

2.69%

  March

2.49%

2.69%

  February

2.54%

2.79%

  January

2.59%

2.79%

  2014 (average)

2.87%

3.04%

  December

2.72%

2.89%

  November

2.74%

2.89%

  October

2.74%

2.89%

  September

2.74%

2.89%

  August

2.74%

2.89%

  July

2.79%

2.99%

  June

2.89%

3.04%

  May

2.89%

3.04%

  April

2.97%

3.15%

  March

2.97%

3.15%

  February

3.09%

3.29%

  January

3.19%

3.39%

5 Year Variable Rate

4.85% - 5.95%

  2024 (average)

5.77%

7.04%

  September

5.25%

6.45%

  August

5.50%

6.70%

  July

5.50%

6.70%

  June

5.75%

7.05%

  May

5.99%

7.30%

  April

5.99%

7.30%

  March

5.99%

7.30%

  February

5.99%

7.30%

  January

5.99%

7.30%

  2023 (average)

5.77%

6.96%

  December

5.99%

7.30%

  November

5.99%

7.30%

  October

5.99%

7.30%

  September

5.99%

7.30%

  August

5.99%

7.30%

  July

6.00%

7.19%

  June

5.75%

6.85%

  May

5.50%

6.60%

  April

5.50%

6.60%

  March

5.50%

6.60%

  February

5.50%

6.60%

  January

5.50%

6.60%

  2022 (average)

2.93%

3.77%

  December

5.25%

6.28%

  November

4.75%

5.70%

  October

4.75%

5.70%

  September

4.25%

4.95%

  August

3.50%

4.45%

  July

3.50%

4.45%

  June

2.46%

3.39%

  May

1.95%

2.75%

  April

1.65%

2.50%

  March

1.13%

1.84%

  February

0.99%

1.65%

  January

0.99%

1.55%

  2021 (average)

1.14%

1.58%

  December

0.99%

1.55%

  November

0.90%

1.55%

  October

1.09%

1.55%

  September

1.09%

1.55%

  August

1.09%

1.55%

  July

1.09%

1.55%

  June

1.19%

1.55%

  May

1.19%

1.55%

  April

1.24%

1.65%

  March

1.24%

1.65%

  February

1.24%

1.65%

  January

1.29%

1.75%

  2020 (average)

1.91%

2.24%

  December

1.38%

1.79%

  November

1.55%

1.80%

  October

1.55%

1.90%

  September

1.63%

1.88%

  August

1.67%

2.00%

  July

1.79%

2.03%

  June

1.79%

2.03%

  May

1.96%

2.23%

  April

2.01%

2.41%

  March

2.24%

2.64%

  February

2.70%

3.10%

  January

2.70%

3.10%

  2019 (average)

2.70%

3.20%

  December

2.70%

3.10%

  November

2.70%

3.10%

  October

2.70%

3.10%

  September

2.70%

3.10%

  August

2.70%

3.10%

  July

2.70%

3.10%

  June

2.70%

3.10%

  May

2.70%

3.20%

  April

2.75%

3.20%

  March

2.75%

3.40%

  February

2.70%

3.45%

  January

2.65%

3.45%

  2018 (average)

2.34%

2.89%

  December

2.65%

3.35%

  November

2.65%

3.25%

  October

2.48%

3.02%

  September

2.40%

2.80%

  August

2.40%

2.80%

  July

2.40%

2.80%

  June

2.15%

2.62%

  May

2.19%

2.55%

  April

2.21%

2.85%

  March

2.21%

2.85%

  February

2.21%

2.85%

  January

2.17%

2.94%

  2017 (average)

1.90%

2.46%

  December

1.98%

2.75%

  November

1.98%

2.75%

  October

2.05%

2.75%

  September

2.15%

2.67%

  August

1.90%

2.50%

  July

1.95%

2.50%

  June

1.75%

2.25%

  May

1.75%

2.25%

  April

1.78%

2.25%

  March

1.80%

2.30%

  February

1.80%

2.30%

  January

1.90%

2.30%

  2016 (average)

2.02%

2.30%

  December

1.90%

2.30%

  November

1.90%

2.30%

  October

1.90%

2.30%

  September

1.95%

2.30%

  August

1.95%

2.30%

  July

1.95%

2.30%

  June

2.05%

2.30%

  May

2.10%

2.30%

  April

2.10%

2.30%

  March

2.10%

2.30%

  February

2.15%

2.30%

  January

2.15%

2.30%

  2015 (average)

1.97%

2.18%

  December

2.10%

2.20%

  November

2.02%

2.16%

  October

1.90%

2.05%

  September

1.90%

2.05%

  August

1.85%

2.05%

  July

1.92%

2.15%

  June

2.05%

2.25%

  May

1.98%

2.25%

  April

1.98%

2.25%

  March

1.98%

2.25%

  February

1.98%

2.25%

  January

2.00%

2.28%

  2014 (average)

2.29%

2.44%

  December

2.13%

2.35%

  November

2.15%

2.35%

  October

2.15%

2.35%

  September

2.20%

2.35%

  August

2.25%

2.35%

  July

2.30%

2.50%

  June

2.35%

2.50%

  May

2.35%

2.50%

  April

2.35%

2.50%

  March

2.40%

2.50%

  February

2.40%

2.50%

  January

2.40%

2.50%

Alberta is Wild Rose Country, beckoning home buyers to its high-value centres.

Still attracting newcomers and inter-provincial job seekers with its higher-value homes and solid economy (it currently has the highest unemployment rate in Canada), Alberta's housing market in Q3 showed cooling as higher interest rates worked their way through to buying decisions.

Despite an uptick in listings across many Alberta centres (like Calgary, Grande Prairie, and Central AB), many buyers are holding back, likely waiting for lower interest rates to help offset the province's rising home prices. Calgary and Central AB led the way in September home-price growth (13% and 11% year-over-year, respectively), and the average provincial home price continued upward by another 9.7% to $499,681 (from Q1's $474,253).

In sales, the main centres of Edmonton, Central AB, Fort McMurray, Grande Prairie, and Lethbridge all saw annual sales increases, ranging from about 1% to over 21%, with Calgary and Medicine Hat seeing declines (about 14% for both). For Calgary, that cooling is a trend turnaround, though not unexpected, as the previous record sales couldn't last forever.

Calgary has claimed the 'balanced market' label with a sales-to-new-listing ratio (SNLR) decline to 58%, but rest of the province is still firmly in seller's market territory with SNLRs ranging from 71% (Edmonton) to 84% (Lethbridge).

The bottom line? It's a mixed provincial bag, with perhaps some smaller markets attracting more buyer-interest against the steeper price increases in the larger centres. Will Alberta markets see more price pressure as rates continue to drop?

Data Source: Sagen Housing Market Updates

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