What is the average mortgage rate in Alberta, Canada?

The current 5-year fixed mortgage rate in Alberta is approximately 4.31%, and the variable rate is approximately 3.62% (Bank of Canada data, as of Apr 16, 2026). Rates vary by lender, term, and whether you require CMHC insurance.

Do I need CMHC insurance when buying a home in Alberta?

CMHC mortgage default insurance is required in Alberta when your down payment is less than 20% of the purchase price. Premiums range from 2.80% to 4.00% of the insured loan amount and are added to your mortgage balance — not paid at closing.

What is the stress test rate for mortgages in Canada?

Under OSFI Guideline B-20, all Canadian mortgage applicants must qualify at the higher of their contract rate plus 2%, or 5.25%. With a 5.24% contract rate, the qualifying rate is approximately 7.24%.

Mortgage Calculator — Alberta, Canada

Q: What is the land transfer tax in Alberta?

Alberta is the only province with no land transfer tax. Home buyers pay only a small title registration fee — typically C$300–C$500 — regardless of the purchase price. This saves buyers thousands compared to other provinces.

Pre-filled with Alberta's average home price of C$495000, property tax of C$3960/year, and a 5-year fixed rate of 4.31%. Adjust any value below.

OSFI Stress Test: You must qualify at 7.24% (contract rate + 2%) under Canada's mortgage stress test rules. This calculator shows your actual payment — your lender will verify you can afford the stress-test rate.

Reference Rates

5-yr Fixed 4.31% Variable 3.62% Prime Rate 4.46% BoC Rate 2.2649%

Apr 16, 2026 · Bank of Canada

1 Loan Details

Home Price

Down Payment

Loan Amount

Auto-calculated —

Interest Rate (live 5-yr fixed 4.31%)

Amortization Period

2 Monthly Costs (Alberta averages pre-filled)

Property Tax (annual) ~0.8% in AB

Home Insurance (annual)

Condo Fees (monthly, if applicable)

Include CMHC Insurance

Required when down payment < 20%

Estimated Monthly Payment

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Enter your loan details to see your payment

Principal & Interest

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Property Tax

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Home Insurance

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Condo Fees

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Total Interest Paid

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Over loan lifetime

Total Cost

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Principal + interest

Loan Amount

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Amount financed

Down Payment

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Of home price

Monthly Payment Breakdown

Balance Over Time

Rate Comparison

How your payment changes with different interest rates

Rate Scenario	Monthly P&I	Total Interest
Enter loan details above to see rate scenarios

Amortization Schedule

Full month-by-month payment breakdown

Alberta Housing Market

Alberta's housing market has been one of Canada's strongest performers since 2022, driven by interprovincial migration and the energy sector. Calgary and Edmonton offer significantly better value than Toronto or Vancouver, with no provincial sales tax and no land transfer tax adding to affordability.

Average Home Price C$495000

Effective Property Tax Rate ~0.8%

Avg Annual Property Tax C$3960

Avg Annual Insurance C$1200

Stress Test Rate ~7.24%

Buying in Alberta

Alberta is among Canada's most affordable major markets. At C$495,000 average price, a buyer with 5% down ($24,750) can enter the market — though CMHC insurance of 4% on the insured amount (~$18,500) would be added to the loan. Calgary's price appreciation has been substantial since 2022.

Land Transfer Tax

Alberta is the only province with no land transfer tax. Home buyers pay only a small title registration fee — typically C$300–C$500 — regardless of the purchase price. This saves buyers thousands compared to other provinces.

CMHC Default Insurance

CMHC insurance applies when your down payment is under 20%. Alberta's lower home prices mean CMHC premiums are smaller in absolute dollar terms than in Ontario or BC, making entry-level homeownership more accessible.

Key Markets

Calgary Edmonton Red Deer Lethbridge Medicine Hat

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