Mortgage Rates · Calgary, Edmonton & all of Alberta
Today’s best mortgage rates in Alberta
The lowest rates we currently have access to across 30+ lenders, shown three ways: insured, insurable and uninsured (which is where every refinance sits). Updated every business day from our lender rate feed, not copied from a bank’s posted-rate page.
Rates updated · refreshed every business day from our lender rate feed
Current mortgage rates in Alberta by term
Every rate below is a real, quotable rate from a lender we place mortgages with, for a well-qualified borrower. The three columns are the three ways lenders price the same mortgage: insured, insurable and uninsured. Find the column that describes your situation, then read across.
| Term | InsuredUnder 20% down · purchase or renewal | Insurable20%+ down · purchase or renewal · under $1M, 25-yr | Uninsured / refinanceRefinance · $1M+ · 30-yr · rentals (premium applies) |
|---|---|---|---|
| 1 Year Fixed | 4.59% | 4.84% | 4.84% |
| 2 Year Fixed | 3.99% | 4.24% | 4.24% |
| 3 Year Fixed | 4.09% | 4.34% | 4.34% |
| 4 Year Fixed | 4.24% | 4.49% | 4.49% |
| 5 Year Fixed | 4.29% | 4.44% | 4.54% |
| Variable Rate | 3.55% | 3.70% | 3.85% |
Rates updated September 14, 2026 Rates are the lowest we currently have access to for a well-qualified borrower in Alberta, are subject to change without notice and are subject to qualification. Insured = default-insured (under 20% down, or renewing a mortgage that was insured when you bought). Insurable = 20% or more down or equity, purchase price under $1 million, 25-year amortization. Uninsured = everything else, including every refinance; rental properties carry a further pricing premium.
Lock in today’s rate
Start your application
Two minutes, no credit check to start. We confirm which column you fall in, hold the rate, and send your secure application link by text and email.
- 2-minute form
- No credit check to start
- Rate hold up to 120 days
- No obligation
Why are there three different rates for the same term?
Lenders price a mortgage on how much risk they carry, not on how good a customer you are. The same 5-year fixed can be three different numbers depending on whether the mortgage is insured, could be insured, or cannot be.
Column 1
Insured
You are buying with less than 20% down, so the mortgage carries default insurance (CMHC, Sagen or Canada Guaranty). The premium is added to your mortgage, and because the insurer covers the lender’s loss if you default, lenders offer their lowest rates here.
The same pricing applies when you renew or switch a mortgage that was insured when you bought, as long as you do not add money or extend the amortization. Purchase price must be under $1.5 million; amortization is 25 years, or 30 if you are a first-time buyer or buying a newly built home.
Column 2
Insurable
You are buying, renewing or switching with 20% or more down or equity, on a home under $1 million with a 25-year amortization. You pay no premium, but the lender can insure the mortgage at its own cost, so it still carries less risk and prices it just above insured.
Miss any one of those three conditions and the file becomes uninsured, priced in column 3.
Column 3
Uninsured, including every refinance
A refinance cannot be insured, so it is always priced here, usually the highest of the three. You can refinance up to 80% of your home’s value. The same column covers homes priced at $1 million or more and 30-year amortizations for repeat buyers. Rental properties are priced here too, with a further pricing premium on top of the rates shown.
The rate is rarely the deciding number on a refinance. The prepayment penalty to leave your current lender usually matters more, and we calculate it before you break anything.
Fixed or variable right now?
The two rates are set by two different markets. A variable rate is quoted as a discount off the lender’s prime rate, which follows the Bank of Canada policy rate. The Bank held its policy rate at 2.25% on September 2, 2026, and prime sits at 4.45%. A 5-year fixed rate is priced off the 5-year Government of Canada bond yield plus a lender spread, and that yield has been pulled up by a global bond selloff that has little to do with the Bank of Canada. That is why fixed rates have been rising while the policy rate has not moved. The next scheduled decision is October 28, 2026.
Our honest answer: it depends on your payment tolerance and your plans for the next few years, and we will show you the numbers both ways before you decide. Three pieces we have written on exactly this question:
Why a broker’s rate is lower than your bank’s posted rate
A bank’s posted rate is a starting point for a negotiation, and most people never negotiate it all the way down. We do not have to. We work with more than 30 lenders, including monoline lenders that only sell mortgages through brokers and never post an inflated rate in the first place. When several lenders want the same file, the rate comes down on its own.
Rate is only part of what we compare. Two mortgages with the same rate can behave very differently at renewal, on a prepayment or if you have to break the term. The big banks calculate a fixed-rate penalty against their posted rates, which inflates it; most monoline lenders calculate it against their actual rates, which on the same balance can be thousands of dollars less. We weigh that alongside the rate, because a cheap mortgage with an expensive exit is not cheap.
Lenders we place mortgages with
A few of the lenders behind the rates above. We have written a plain-English profile of every lender we work with, including how each one prices, qualifies and calculates penalties.
What rate will I actually qualify for?
The table shows our best rate for each scenario. Yours will match it if you are well qualified, and can sit a little above it if you are not. What moves the number:
- Down payment or equity. Under 20% down is insured and gets the lowest pricing. 20% or more is insurable if the home is under $1 million on a 25-year amortization, otherwise uninsured. A refinance is capped at 80% of value and always uninsured.
- Credit. Prime lenders want a solid history; below their threshold you move to an alternative lender at a higher rate, usually as a stepping stone back to prime.
- Amortization. A 30-year amortization is available on some files and usually costs a small premium over 25 years.
- Property. Owner-occupied homes price best. Rentals, homes priced at $1 million or more and unusual properties carry a premium.
- Closing date. Most lenders hold a rate for 90 to 120 days. The quickest closings sometimes get a quick-close special below the table.
You do not have to guess. Run one of our calculators, or start the application and we will tell you exactly where you land.
How much can I afford?
Your maximum purchase price under today’s stress test, in about 30 seconds.
Affordability calculator →What will my payment be?
Check a specific home and price against your budget.
Home-purchase calculator →How much equity can I take out?
Up to 80% of your home’s value, less what you owe.
Refinance calculator →★ 5.0 · 293+ Google reviews
What Alberta homeowners say about us
Really good experience with the Mortages for Less Team. Tamar was very attentive to our needs.
Tamar was great to deal with. Efficiently got me everything I needed... And more. Thanks Tamar
Josh provided me with good advice and did not waste my time.
Easy to approach.understanding and very professional.
Didn’t end up getting a mortgage through him but Josh was incredibly helpful and provided objective advice.
Tamar is truly amazing and so patient. She helped us through the entire process (which was quite confusing to be honest). Highly recommend.
I recently used their service, Tamar was my broker and she did a great job. She solved all our doubts and gave us the best service.
Tamar was super helpful throughout the process of helping us renew our mortgage. We changed mortgage providers, but Tamar made the process smooth.
Mortgage rate questions we get every week
Why is the rate I was quoted higher than the rate on this page?
The table shows our lowest rate for a well-qualified borrower in each scenario. If your quote is higher, it is almost always one of five things: you are in the insurable or uninsured column rather than insured, your amortization is 30 years, the property is a rental or over the insured price cap, your credit put you with an alternative lender, or your closing date is outside the lender’s rate-hold window. Ask us which one applies and whether a different lender changes it.
How often are these rates updated?
We scan our lenders’ rate bulletins every business day and the table refreshes from that feed automatically. The date beside the table tells you when the numbers were last confirmed. Lenders can change rates without notice between updates, which is why a rate hold matters.
How long can I hold a rate?
Most lenders hold a rate for 90 to 120 days from approval. If rates fall before you close, we ask the lender to float you down to the lower rate, and if they will not, we look at moving the file. If rates rise, your held rate is protected.
Should I take a fixed or a variable rate?
A fixed rate buys certainty; a variable rate has historically cost less over time but your payment or amortization moves with prime. The right answer depends on how you would handle a rise in payments and how long you plan to keep the mortgage, since variable-rate penalties are usually three months of interest while fixed-rate penalties can be far larger. We show you both scenarios with real numbers before you choose.
Do you charge a fee for arranging a mortgage?
For a standard residential mortgage with a prime lender, no. The lender pays us when the mortgage funds, and the rates on this page already reflect that. Alternative and private mortgages can carry a lender or broker fee, and we disclose it in writing before you commit to anything.
Are these rates available in Edmonton and the rest of Alberta?
Yes. We are based in Kensington in Calgary and licensed across Alberta, so the same lenders and the same rates apply in Edmonton, Red Deer, Lethbridge, Fort McMurray, Grande Prairie, Medicine Hat and everywhere in between. Almost every file is handled by phone, email and e-signature.
Want the rate that fits your file, not the table?
Two minutes to start online, or a 20-minute call with Josh to talk through fixed vs variable, penalties and your closing date.
Rates shown are the lowest currently available to us in Alberta for a well-qualified borrower, are subject to change without notice and are subject to lender qualification. This page is general information, not a commitment to lend. Mortgages for Less operates under INDI Mortgage; Josh Tagg is licensed by the Real Estate Council of Alberta.