Overview
Mortgage rates in Edmonton, Alberta, are highly competitive in mid-2025, with fixed rates for well-qualified borrowers starting just above 4%. Major banks, credit unions, and digital lenders all offer a broad range of mortgage products, with rates varying by term, down payment, and borrower profile. Edmonton’s market remains more affordable than larger Canadian cities, supporting steady demand.
Current Edmonton Mortgage Rates (August 2025)
Below is a comparison of the most recent rates from leading sources:
| Term | Best Rate (Insured) | Typical Bank Rate | Notes |
|---|
| 5-year Fixed | 4.04% | 4.44–4.71% | Lowest for high-ratio mortgages |
| 5-year Variable | 4.00% (Prime -0.95%) | 4.60–4.67% | High-ratio, select lenders |
| 3-year Fixed | 3.99–4.49% | 4.49–4.77% | Big 6 banks & credit unions |
| 5-year Conventional Fixed | 4.44–4.71% | 4.69–4.79% | 20%+ down payment |
- Major banks (e.g., RBC, TD, ATB) tend to post slightly higher rates than digital lenders or brokers, but often have limited-time offers and incentives.
- Digital lenders and brokers may offer the lowest rates, especially for insured (high-ratio) mortgages with less than 20% down payment.
- Variable rates are closely tied to the Bank of Canada overnight rate, which remains historically elevated but is projected to decrease later in 2025.
Edmonton Market Context
- Edmonton’s average home price (July 2025): $430,704.
- Alberta’s average mortgage rates: 4.59% (5-year fixed), 5.25% (5-year variable), but best available rates are lower for qualified borrowers.
- Rates are influenced by: Oil prices, economic activity, and Bank of Canada policy.
- Fixed rates are expected to remain between 3.75% and 4.25% for the remainder of 2025.
Major Bank Offerings
| Bank | 5-Year Fixed | 5-Year Variable | Special Offers |
|---|
| RBC | 4.69% | Prime - 0.40% (4.55%) | Up to $5,700 cash back |
| TD Canada | ~4.79% | Prime - 0.31% (4.79%) | Limited-time specials |
| ATB | 4.44–4.54% | 4.60% | 120-day rate guarantee |
- Digital brokers and specialized lenders often undercut major banks for insured mortgages.
Provincial Regulations & Programs
- Alberta does not have a land transfer tax, making closing costs lower than in other provinces.
- Mortgage regulations (stress test, qualifying rate) are federally governed and apply equally in Alberta.
- Provincial credit unions (e.g., Servus, ATB) may offer unique rate discounts or member benefits.
First-Time Homebuyer Programs (Canada-wide)
- First-Time Home Buyer Incentive: Government shared equity program—up to 10% of new home price, 5% for resale. Reduces monthly payments.
- Home Buyers’ Plan (HBP): Withdraw up to $60,000 from RRSP for down payment, tax-free, repayable over 15 years.
- Tax Credit: $10,000 federal non-refundable tax credit for first-time buyers.
- GST/HST New Housing Rebate: Refund on part of GST/HST for new or substantially renovated homes.
No Alberta-specific first-time buyer grants, but lower closing costs and affordable pricing benefit new buyers.
How to Get the Best Rate
- Compare offers from multiple lenders: Digital lenders and brokers often have the best rates for qualified buyers.
- Consider both fixed and variable options: Fixed rates offer payment stability; variable may drop if the Bank of Canada cuts rates.
- Apply for pre-approval: Locks in a rate for up to 120 days.
- Check eligibility for first-time buyer programs.
For a comprehensive, side-by-side rate comparison and access to competitive offers from Canada’s top lenders, start your personalized mortgage application with theratefinder. Their multi-step process ensures you get the best rates for your specific needs—residential, commercial, or construction. Begin at theratefinder.ca/onboarding/email for a custom solution.
Summary & Recommendations
- Current best 5-year fixed rates in Edmonton are as low as 4.04%, with variable rates from 4.00% for high-ratio mortgages.
- Major banks and digital lenders are offering competitive specials, but the lowest rates are often from brokers or insured products.
- Edmonton’s affordable prices and lack of land transfer tax make it attractive for buyers, especially first-timers.
- Take advantage of federal first-time buyer programs and compare multiple offers to secure the best rate.
- Use theratefinder to compare and apply for the best mortgage rates across Alberta and Canada.
Next Steps:
- Gather your financial documents (income, down payment, credit score).
- Compare personalized mortgage rates using theratefinder.
- Check eligibility for federal first-time buyer programs.
- Lock in your rate with pre-approval before shopping for a home.