Current Alberta Mortgage Rates — What You Won't See on a Bank Website
Updated regularly by Shawn Selanders | RECA-Licensed Mortgage Broker | 25+ Years Experience
The rate you see online is almost never the rate you'll actually get. Banks post one number. Brokers negotiate a better one. And the best rate isn't always the right rate — penalties, prepayment options, and portability matter just as much.
I shop 20+ lenders on every deal. That means I'm not limited to one bank's menu — I find the mortgage that fits your situation, not the one that fits the bank's profit target.
Why I Don't Post Exact Rates Here
Rates change daily — sometimes multiple times a day. If I post "4.49%" and you call next week, it might be 4.39% or 4.59%. I'd rather give you the real number when you call, not a stale one from a website.
More importantly, your rate depends on your situation. Credit score, property type, down payment, amortization, insured vs. uninsured — all of these change what rate I can get you. A 30-second call gets you a real answer.
📈 Illustrative Alberta Mortgage Rate Ranges
Last reviewed: March 23, 2026 | Bank of Canada overnight rate: 2.25% | Prime rate: 4.45%
⚠️ Important: These are broad working ranges — not guaranteed rates or specials. Your actual rate depends on whether your mortgage is insured or uninsured, your down payment, property type, amortization period, credit score, and lender. The best way to know your real rate? Call me.
| Term | Fixed Rate Range | Variable Rate Range |
|---|---|---|
| 1-Year Fixed | Mid 4s to low 5s | — |
| 2-Year Fixed | Low to mid 4s | — |
| 3-Year Fixed | Mid 3s to low 4s | — |
| 5-Year Fixed ⭐ | Mid 3s to mid 4s | Low to mid 3s |
🔑 What determines YOUR rate:
Insured mortgages (less than 20% down) typically get the lowest rates because the lender's risk is covered by mortgage insurance. Uninsured/conventional mortgages (20%+ down) carry slightly higher rates. Refinances and rental properties are priced higher again. Your credit score, income stability, and the property itself all factor in. That's why a rate comparison website can only give you a starting point — a broker who shops 20+ lenders gives you the real answer.
What's Happening Right Now (March 2026)
The Bank of Canada held its overnight rate at 2.25% on March 18, 2026 — the third consecutive hold. The prime rate sits at 4.45%. Variable-rate mortgages remain competitive, with the best rates running in the low to mid 3s.
Fixed rates have edged up slightly as bond yields rose in response to the conflict in the Middle East and rising energy prices. The BoC signalled it's watching both sides — weaker economic data pulling toward a cut, but inflation risk from energy prices pulling toward a hold or even a hike. The next rate decision is April 29, 2026.
Bottom line: rates are near the lowest they've been since 2022, but the direction from here is genuinely uncertain. If you're renewing in the next 6 months, now is a smart time to lock in a rate hold. Most lenders will guarantee a rate for 120 days.
Should You Choose Fixed or Variable?
Historically, variable-rate mortgages have often outperformed fixed rates over the long term — but the result depends heavily on timing, the rate environment, and your personal risk tolerance. In 2026, the variable-fixed spread is meaningful (variable rates are running roughly half a percentage point below 5-year fixed), which makes variable attractive on paper. But with geopolitical uncertainty pushing bond yields around, fixed rates offer stability that many borrowers value — especially in uncertain times.
There's no universally right answer. The right answer is the one that fits your situation, your risk tolerance, and your timeline. That's a conversation worth having over coffee.
Want to know your actual rate? Not a range — YOUR number.
I shop 20+ lenders. Takes 15 minutes. No obligation.
📞 Call or Text: 403-703-6847 ✉️ Email ShawnSources: Bank of Canada rate announcements, CREA monthly statistics. Ranges reflect publicly available best rates across multiple Canadian lender comparison sites as of the review date. Individual rates vary by borrower profile and lender. Last reviewed: March 23, 2026.
*Ranges shown are approximate and change frequently. Insured mortgages (less than 20% down) often qualify for lower rates. Call me for your exact rate — it takes 30 seconds.
💪 Why My Rate Beats the Bank
When you walk into your bank, you're seeing one lender's rates. Their advisor is paid to sell you their products. They have no incentive to tell you that another lender down the street has a rate 0.30% lower with better terms.
As a broker, I'm the opposite. I submit your application to whichever lender offers the best deal for your situation. Here's what that typically looks like:
| ❌ Bank's posted rate: | Often higher than what I can get |
| ✅ What you get through me: | The most competitive rate from 20+ lenders |
| Your typical savings: | thousands of dollars over the term. |
And it costs you nothing. The lender typically pays my commission. You get the same rate (or better) as going to the lender directly, plus the advantage of having someone shop the entire market for you.
💡 Rate Isn't Everything — Here's What Else Matters
I've seen people save 0.10% on rate and then lose $12,000 on a penalty when they needed to sell early. The rate is important, but it's only one piece. Here's what else I look at:
| Feature | Why It Matters |
|---|---|
| Prepayment privileges | Can you put 15% or 20% extra per year? Some lenders restrict this to 10% — that limits your ability to pay down faster. |
| Penalty calculation | Big banks use IRD (Interest Rate Differential) — penalties of $10,000–$20,000+ are common. Monoline lenders typically charge just 3 months' interest. |
| Portability | If you sell and buy a new home, can you transfer your mortgage? Not all lenders allow this, and restrictions vary. |
| Blend & extend | If rates drop mid-term, can you blend your old rate with a new lower rate? Some lenders offer this, some don't. |
| Refinance restrictions | Some low-rate mortgages are "no-frills" — they restrict refinancing or have a bona fide sale clause. I'll tell you upfront if there are strings attached. |
| Lender reputation | Some lenders are great until you need to make a change. After 25+ years, I know which lenders are fair to deal with and which ones make your life difficult. |
This is why I don't just find you the most competitive rate. I find you the lowest total cost mortgage — the one that gives you the best rate AND the flexibility to handle whatever life throws at you.
📈 Fixed vs. Variable — The Honest Answer
Everyone asks this question. Here's the straightforward answer:
🔒 Fixed Rate — Choose If:
• You want payment certainty — same amount every month
• You'd lose sleep if your payment went up $200
• You're stretching to qualify and can't absorb increases
• You plan to stay for the full 5-year term
📈 Variable Rate — Choose If:
• You can handle payment fluctuations
• You might sell, refinance, or pay off early (lower penalties)
• Historically, variable-rate mortgages have often outperformed fixed over longer terms — but the result depends heavily on timing and your risk tolerance.
• You want flexibility and are comfortable with some risk
Not sure? That's exactly what a 10-minute call is for. I'll look at your situation and tell you what I'd do if I were in your shoes.
📋 How to Get Your Personalized Rate
It takes 30 seconds. Call or text me and tell me:
1. Are you purchasing, renewing, or refinancing?
2. Roughly what's the property value or mortgage amount?
3. How much is your down payment (for purchases)?
That's it. I'll give you a rate range immediately and a firm rate once I review your full details. No credit check needed for an initial quote.
📊 Run the Numbers Yourself
Use my free mortgage calculators to estimate payments, closing costs, affordability, and more — before you talk to any lender.
Open Mortgage Calculators →📚 Explore My Mortgage Guides
Learn more about the topic that fits your situation:
Content last reviewed: March 2026. Mortgage rules and rates change frequently — contact Shawn for current information.
Get Your Personalized Rate — 30 Seconds
Tell me what you're doing (buying, renewing, or refinancing), the property value, and your down payment. I'll give you a rate immediately. No credit check. No obligation.
Call/Text: 403-703-6847
Email: Shawn@ShawnSelanders.ca
Office: 614 High View Park NW, High River, AB T1V 1E5
Hours: Mon–Fri 9:00–7:00 | Sat–Sun 12:00–5:00
Shawn Selanders — RECA-licensed mortgage broker serving Calgary, Okotoks, High River, and Southern Alberta since 1999. Rates shown are estimates and subject to change without notice. O.A.C. E.&O.E.