Current Mortgage Rates in Alberta

In Today’s Volatile Mortgage Rate Environment rates can fluctuate Daily.

There Are Several Options for Rates on Mortgages

Fixed Rate Terms -where the Interest Rate is locked in for the Chosen Term.

Variable Rate Mortgages – where the Rate is based of Current Prime rate but is locked in for the Term.

One consideration with Variable Rate Mortgages is that if Prime Increases, you payment remains the same but amount of Principle per Payment Lowers. If rates increase to the Point no principle is being paid the Lender will request an update on Mortgage Terms or Principal Payment.

Adjustable Rate Variable Mortgages – where the rate is based of Current Prime and the payment adjusts with Prime rate increases or Decreases.

Insured Mortgages (Less than 20% Down) and Conventional Mortgages ( Greater than 20% Down) also have different Mortgage Rates Available.  

With all these options, and Each Lender having different Rates available if you are looking for Accurate Rate Quotes please call Dennis at 780-991-1600 or email at [email protected]

 

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:

Advantage Mortgage gives you access to many rate choices

With Access to Major Banks, Monoline Mortgage Lenders, Private Funds and Equity as well as Commercial Lenders we have a large Offering of Rates.

 

Don’t Rely on One Lenders Offers.

Harness the power of multiple mortgage lenders with Advantage Mortgage!