Updated October 28, 2026
Current 2026 Average Mortgage Interest Rates in Alberta (Edmonton)
Real averages from the Bank of Canada, benchmark posted rates and Pineapple’s own posted rates, in one table with the date beside every figure. Then let’s confirm what you qualify for, online, from anywhere in Edmonton and the surrounding communities.
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Average mortgage rates for Alberta and Edmonton borrowers, 2026
Last updated: . Average new-mortgage data is for August 2026, the most recent month the Bank of Canada has released; benchmark and posted rates are as of the dates shown.
| Term | Insured | Uninsured |
|---|---|---|
| Average rate on new mortgages, August 2026 · Bank of Canada (opens in a new tab) | ||
| 5-year-plus fixed | 4.12% | 4.58% |
| 3- to under 5-year fixed | 4.02% | 4.13% |
| 1- to under 3-year fixed | 4.94% | 5.31% |
| Variable rate | 3.74% | 3.90% |
| All new mortgages (every term) | 4.19% | 4.34% |
| Benchmark rates · Bank of Canada (opens in a new tab) | ||
| Prime rate (week of October 21, 2026) | 4.45% | |
| 5-year conventional posted rate (October 28, 2026) | 6.19% | |
| 3-year conventional posted rate (October 28, 2026) | 6.05% | |
| 1-year conventional posted rate (October 28, 2026) | 5.49% | |
| Pineapple National Inc. posted rates, checked October 28, 2026 · gopineapple.ca/rates (opens in a new tab) | ||
| 2-year fixed | 4.14% | |
| 3-year fixed | 4.19% | |
| 5-year fixed | 4.09% | |
| 5-year variable | 3.70% | |
Rates are set by lenders and may change at any time without notice. Please contact me to confirm current rates and availability before making any decisions.
Rates may not be available in certain regions. Please reach out to confirm availability.
To turn a rate into a payment, try the Edmonton mortgage rate calculator. These are our posted rates and published averages. Lenders occasionally run unposted rate sales that aren't advertised, so reach out for the most current rates.
Sources: Average rates are the Bank of Canada’s “Interest rates charged for new and existing lending by chartered banks (opens in a new tab)” (mortgages, funds advanced, month-end, series V122667775 to V122667786). The prime rate and conventional posted rates are from the Bank of Canada’s posted interest rates offered by chartered banks (opens in a new tab) (weekly, series V80691311, V80691333, V80691334 and V80691335). Pineapple figures are from Pineapple’s rates page (opens in a new tab). All figures were retrieved on October 28, 2026.
The Bank of Canada figures are national. Neither the Bank of Canada nor Statistics Canada publishes a separate average for Alberta or Edmonton, so these are the closest official benchmark for a borrower here. “Insured” means the mortgage carries default insurance (usually required with less than 20% down); “uninsured” covers most mortgages with 20% or more down and most refinances. Averages describe what borrowers were charged across the country; they are not an offer. Posted rates are for qualified borrowers, on approved credit (OAC), and are not annual percentage rates (APRs); the APR may be higher if fees or other costs apply. Every mortgage is subject to lender approval.
Reading these numbers as an Edmonton borrower
Three different figures show up in the table, and they answer different questions. The average rate on new mortgages is what Canadian banks actually charged on loans they funded that month, so it’s the closest thing to a “typical” rate. The conventional posted rate is the big banks’ advertised sticker rate; almost nobody pays it, but it still matters because some lenders use it when they work out prepayment penalties. The prime rate is the base that variable-rate mortgages and home equity lines of credit float on.
The gap between the posted 5-year rate and the average 5-year rate people actually paid is the discount a lender gives when it wants your business. Comparing several lenders at once is how you see that discount, and it’s the part of the job I do for you.
Buying a condo in Oliver, a starter home in Mill Woods, an acreage outside Stony Plain or moving up in Sherwood Park all start with the same national pricing. Your own rate then moves up or down with your down payment, credit, income type, the property and whether it’s a purchase, a renewal or a refinance.
I work with Edmonton and its suburbs entirely online: we meet by video or phone, you upload documents through a secure link and you e-sign. Book a 30-minute phone call (opens in a new tab) or a 1-hour video appointment (opens in a new tab), or start a pre-approval online (opens in a new tab).
What changes the rate you’re offered
Insured or not
Mortgages with less than 20% down carry default insurance, and lenders often price insured mortgages lower than uninsured ones.
Purchase, switch or refinance
Lenders price purchases, renewals, switches and refinances differently. Refinances are often priced a little higher.
Term and rate type
Fixed rates follow bond yields; variable rates move with the lender’s prime rate. Shorter and longer terms each have their own pricing.
Credit, income and property
Credit history, how income is documented, the property type and whether it’s owner-occupied or a rental all matter.
Fixed or variable?
A fixed rate keeps your payment the same for the whole term, which makes budgeting easy. A variable rate moves with your lender’s prime rate; with some lenders your payment changes, while with others the payment stays the same and the split between principal and interest changes. Penalties to break a term also differ: variable is often three months’ interest, while fixed can involve an interest rate differential. The right choice depends on your budget, plans and comfort with change, not on predictions.
Looking at the rate alone can be misleading. A slightly lower rate with a harsh penalty or limited prepayment privileges can cost more if your plans change. I’ll compare the whole package with you, by video or phone.
Alberta mortgage rate questions
What is the average mortgage rate in Alberta right now?
The most recent official average comes from the Bank of Canada for August 2026: 4.12% for insured and 4.58% for uninsured fixed-rate mortgages with terms of five years or more, and 3.74% insured or 3.90% uninsured for variable-rate mortgages. These are national figures; no separate Alberta average is published. Contact me to confirm the rate available for your situation.
Are Edmonton mortgage rates different from the rest of Canada?
Most lenders price residential mortgages nationally, so an Edmonton borrower generally sees the same rate sheet as someone elsewhere in the country. What changes your rate is your file: down payment, credit, income, the property and the type of transaction. Some lenders and products are not offered in every area, so availability should always be confirmed.
What is the difference between a posted rate and the rate I’ll actually pay?
A posted rate is a lender’s advertised rate. The Bank of Canada’s weekly 5-year conventional posted rate was 6.19% on October 28, 2026, while the average 5-year-plus rate banks actually charged on new uninsured mortgages in August 2026 was 4.58%. Lenders discount from posted rates to compete, and some use the posted rate to calculate prepayment penalties.
Why are insured mortgages often cheaper than uninsured ones?
When a mortgage has default insurance, which is usually required with less than 20% down, the insurer carries the risk if the borrower defaults. Lenders can fund those loans more cheaply, so insured rates are often lower even though the borrower pays an insurance premium.
How often is this page updated?
The Bank of Canada publishes average new-mortgage rates monthly and posted and prime rates weekly. This page was last updated on October 28, 2026, and the data date for each figure is shown in the table.
Can I get a mortgage rate quote without visiting an office?
Yes. I’m John Antle, Mortgage Associate - Team Lead with Pineapple National Inc., and I work with clients in Edmonton and its suburbs entirely online, by video, phone and e-signing. Call 403-879-2065, email johnantle@gopineapple.com or book a call. Every application is subject to lender approval.
Want a rate for your situation?
Book a call or start your pre-approval online, and I’ll confirm what’s available today.
Approval is not guaranteed and depends on lender review.
- John Antle, Mortgage Associate - Team Lead, Pineapple National Inc.
- Phone: 403-879-2065 · Call or text: 250-212-8512
- Email: johnantle@gopineapple.com
- Hours: Monday to Friday, 9:30 AM to 5:00 PM. Appointments outside those hours are available on request.
- 100% online: video, phone, e-signing and secure upload for Edmonton and every surrounding community. No office visit required.