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Edmonton Mortgage Rates

Updated

Find the best current mortgage rates in Edmonton to get the best deal on your home. Edmonton is one of Canada’s most affordable major cities, with average home prices around $400,000 and no land transfer tax.

The average home price in Edmonton is approximately $400,000 in 2026 — making it one of the most affordable major cities in Canada. With no land transfer tax, low closing costs, and competitive mortgage rates, Edmonton is an excellent market for first-time homebuyers.

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Compare Today’s Best Mortgage Rates in Edmonton

Looking for competitive mortgage rates in Edmonton? Below you’ll find up-to-date rates from top lenders, whether you’re buying in the city centre, west Edmonton, south side, or surrounding communities like St. Albert and Sherwood Park.

Why Compare Mortgage Rates in Edmonton?

Even with Edmonton’s affordable prices, your rate matters. On a $400,000 home with 10% down, the difference between a 4.00% and 5.00% rate is approximately $213 per month — or over $64,000 in total interest over 25 years.

Edmonton’s Housing Affordability

Edmonton is one of the most accessible major city markets in Canada:

  • Average home price: ~$400,000 — roughly one-third of Toronto’s average
  • Minimum down payment: As low as $20,000 (5%) on the average-priced home
  • No land transfer tax — Only small registration fees (~$210)
  • No provincial sales tax — Additional savings on all purchases
  • Diverse economy — Government, energy, education, retail, and a growing tech sector

Types of Mortgage Rates Available

  • Fixed Mortgage Rates: Lock in your rate for predictable monthly payments.
  • Variable Mortgage Rates: Rates move with the prime rate. Can offer savings if rates continue to decline.
  • Open vs. Closed Mortgages: Open mortgages offer early repayment flexibility, while closed mortgages have lower rates.

Edmonton-Specific Lenders

Beyond national banks, Edmonton buyers should consider:

  • ATB Financial — Alberta’s provincially owned financial institution, with a strong Edmonton presence
  • Servus Credit Union — Alberta’s largest credit union, headquartered in Edmonton
  • Connect First Credit Union — Serving central and southern Alberta
  • Big Five banks — All compete in the Edmonton market

Frequently Asked Questions

What is the average mortgage rate in Edmonton right now? Mortgage rates change daily. Check the rate table above for the latest competitive rates available to Edmonton borrowers.

How much house can I afford in Edmonton? Edmonton’s affordability means a household income of $80,000 with 10% down could potentially afford a home around $375,000–$425,000. Use our Edmonton mortgage calculator for a detailed estimate.

Is Edmonton good for first-time homebuyers? Excellent. Low home prices mean small down payments and lower mortgage amounts. A 5% down payment on a $400,000 home is $20,000, and with no land transfer tax, closing costs are minimal.

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