Current Mortgage Rates in Alberta
Mortgage Rates in Alberta change often, please contact us for the most current information available.
Prime Rate 6.85
Bank of Canada Qualifying Rate 5.25%
NOTE: At Current rates it is Contract rate + 2% which is Currently Higher than Bank of Canada Qualifying Rate April 20/ 2023
Rates provided by:
In today’s volatile Mortgage Rate environment, rates can fluctuate daily.
On your own, it can be difficult to find the current and correct mortgage rates in Alberta. We’re here to help.
Advantage Mortgage gives you CHOICES
Advantage Mortgage gives you access to Major Banks, Monoline Mortgage Lenders, Private Funds and Equity as well as Commercial Lenders! Due to our connections and experience, we are able to offer our clients the best available choices on mortgage rates.
There Are Several Options for Rates on Mortgages:
- Fixed Rate Terms – Rate is locked in for the chosen term
- Variable Rate Mortgages – Rate is based of Current Prime rate but is locked in for the term
- Adjustable Rate Variable Mortgages – Rate is based on Current Prime and the payment adjusts with Prime rate changes
One consideration with Variable Rate Mortgages is that if Prime Increases, your payment remains the same but amount of Principle per Payment Lowers. If rates increase to the point that no principle is being paid, the Lender will request an update on Mortgage Terms or Principal Payment.
Insured Mortgages (Less than 20% Down) and Conventional Mortgages ( Greater than 20% Down) also have different Mortgage Rates Available in Alberta.
You can learn more about the different types of mortgages available in Alberta on our Services Page.
With so many options, it is more important than ever to receive an Accurate Quote. With Advantage Mortgage, you can be sure you’re receiving the most current information and highest professional service. Read the experiences of our past clients!