Current Alberta Mortgage Rates

Rates updated as of December 3, 2020 11:56:31

Nesto Mortgage Rates

TermFixed
1-YR1.71%Mortgage financing companyGet this rateCompare all rates
2-YR1.69%Mortgage financing companyGet this rateCompare all rates
3-YR1.63%Mortgage financing companyGet this rateCompare all rates
4-YR1.68%Mortgage financing companyGet this rateCompare all rates
5-YR1.49%Mortgage financing companyGet this rateCompare all rates
6-YR2.59%Big bankGet this rateCompare all rates
7-YR2.18%Mortgage financing companyGet this rateCompare all rates
10-YR2.79%Mortgage financing companyGet this rateCompare all rates
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TermVariable
1-YRNo rates at the moment
2-YRNo rates at the moment
3-YR1.99%Get this rateCompare all rates
4-YRNo rates at the moment
5-YR1.50%Mortgage financing companyGet this rateCompare all rates
6-YRNo rates at the moment
7-YRNo rates at the moment
10-YRNo rates at the moment
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Broker Mortgage Rates

TermFixed
1-YR1.74%First NationalGet this rateCompare all rates
2-YR1.69%MCAPGet this rateCompare all rates
3-YR1.69%MCAPGet this rateCompare all rates
4-YR1.74%First NationalGet this rateCompare all rates
5-YR1.69%First NationalGet this rateCompare all rates
7-YR2.34%CMLS FinancialGet this rateCompare all rates
10-YR2.95%First NationalGet this rateCompare all rates
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TermVariable
1-YRNo rates at the moment
2-YRNo rates at the moment
3-YR2.45%CMLS FinancialGet this rateCompare all rates
4-YRNo rates at the moment
5-YR1.65%CMLS FinancialGet this rateCompare all rates
7-YRNo rates at the moment
10-YRNo rates at the moment
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Mortgage Rates with HELOC

TermFixed
1-YR2.54%HELOC ratePrime +1.00%ScotiabankGet this rateCompare all rates
2-YR2.34%HELOC ratePrime +1.00%ScotiabankGet this rateCompare all rates
3-YR2.24%HELOC ratePrime +1.00%ScotiabankGet this rateCompare all rates
4-YR2.19%HELOC ratePrime +1.00%ScotiabankGet this rateCompare all rates
5-YR1.84%HELOC ratePrime +1.00%MCAPGet this rateCompare all rates
7-YR2.54%HELOC ratePrime +1.00%ScotiabankGet this rateCompare all rates
10-YR2.94%HELOC ratePrime +1.00%ScotiabankGet this rateCompare all rates
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TermVariable
1-YRNo rates at the moment
2-YRNo rates at the moment
3-YR3.20%HELOC ratePrime +1.00%ScotiabankGet this rateCompare all rates
4-YRNo rates at the moment
5-YR1.70%HELOC ratePrime +1.00%ScotiabankGet this rateCompare all rates
7-YRNo rates at the moment
10-YRNo rates at the moment
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Bank Mortgage Rates

TermVariable
1-YRNo rates at the moment
2-YRNo rates at the moment
3-YR2.00%Get this rateCompare all rates
4-YRNo rates at the moment
5-YR1.70%ScotiabankGet this rateCompare all rates
6-YRNo rates at the moment
7-YRNo rates at the moment
10-YRNo rates at the moment
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About Alberta

Located in western Canada – the most westly of the three Prairie provinces, Alberta is bordered by the Canadian Rocky Mountains to the west and vast prairies and badlands to the east. To the north is the Northwest Territories. The state of Montana is the nearest southern neighbour in the United States, sharing an international peace park (Waterton-Glacier International Peace Park).

Key facts about Alberta:

  • Edmonton is the capital and second-largest city of Alberta (Calgary is the largest). Edmonton is a cultural, governmental and educational centre. It hosts a year-round slate of festivals, reflected in the nickname “Canada’s Festival City”
  • The southern portion of Alberta consists mainly of plains that are almost entirely treeless. As the slopes of the Rocky Mountains to the west are reached, more trees are found until in the foothills of the mountains, bodies of forest timber occur. Trees also become more numerous in the northern part of the province
  • Alberta has five national parks and 76 provincial parks. Jasper National Park is the largest national park in the Canadian Rockies, spanning 11,000 square kilometers. The park includes the glaciers of the Columbia Icefield, hot springs, lakes, waterfalls and mountains

 

About the Alberta Housing Market

COVID-19 lockdowns in March and April slowed down the housing market in Western Canada. Many buyers put their plans on hold at the peak of COVID-19 lockdowns, but they returned to the market quickly to make up for lost time. Edmonton’s housing market quickly bounced back to pre-COVID levels in June, and this momentum is anticipated to continue into the fall market, with steady activity to round out 2020.

 

What are the Different Types of Mortgages?

  • Fixed Mortgages. Fixed-rate mortgages make up 70% of all mortgages in Canada. A fixed-rate mortgage keeps your interest rate steady over the term of your mortgage (1-10 years). There’s no doubt that the five-year fixed-rate mortgage is the most common choice selected by Canadian homeowners. But, this isn’t the best option for everyone, regardless of its popularity. Fixed-rate mortgages appeal to homebuyers who are looking for a dependable payment schedule, manage a tight monthly budget or are generally more conservative. For instance, Millennials with large mortgages relative to their income may be better off opting for the peace of mind provided by a fixed rate and payments. 
  • Variable Mortgages. A variable-rate mortgage fluctuates with the lender’s prime rate throughout your mortgage term. While your mortgage payment will remain the same over your term, your interest rate may change based on market conditions. So, if the prime rate rises or falls, this impacts the amount of principal you pay off each month. When rates on variable-rate mortgages drop, more of your payment is applied to your principal balance. And, conversely, if rates increase, more of your payment will go towards the interest portion of your mortgage. Historically, variable rates have paid off for Canadians over time.

 

How nesto Works

We offer all the help of a mortgage broker, without the commission. Simply put, our salaried mortgage advisors are rewarded based on your satisfaction. We’re here to help you reach your goal and guide you through the complicated world of home financing. #yesyoucan #empowermentisthenewsexy

Every mortgage professional knows the market’s best rates every time they check their email. Only a few of them will give you that rate without making you work for it. nesto’s here to change the industry for this very reason. You always get the best rate upfront with nesto.

Alberta Mortgage payment calculator