Current Alberta Mortgage Rates — What You Won't See on a Bank Website
Updated regularly by Shawn Selanders | RECA-Licensed Mortgage Broker | 25+ Years Experience
The rate you see online is almost never the rate you'll actually get. Banks post one number. Brokers negotiate a better one. And the best rate isn't always the right rate — penalties, prepayment options, and portability matter just as much.
I shop 20+ lenders on every deal. That means I'm not limited to one bank's menu — I find the mortgage that fits your situation, not the one that fits the bank's profit target.
Why I Don't Post Exact Rates Here
Rates change daily — sometimes multiple times a day. If I post "4.49%" and you call next week, it might be 4.39% or 4.59%. I'd rather give you the real number when you call, not a stale one from a website.
More importantly, your rate depends on your situation. Credit score, property type, down payment, amortization, insured vs. uninsured — all of these change what rate I can get you. A 30-second call gets you a real answer.
📈 Current Rate Ranges (Early 2026)
These are approximate starting ranges across 20+ lenders. Your actual rate depends on your credit, down payment, property type, and mortgage details. Call me for your personalized rate.
| Mortgage Type | Rate Range | Best For |
|---|---|---|
| 5-Year Fixed | Low to mid 4s | Payment stability, most popular term |
| 3-Year Fixed | Low to mid 4s | Flexibility if you may move or refinance |
| 2-Year Fixed | Mid 4s | Short commitment, rate reset soon |
| Variable Rate | Low 4s | Historically saves money, with some risk |
| HELOC Rate | Prime + 0.5% | Flexible access to equity |
| Private / Second Mortgage | 7% – 12% | When banks say no, short-term bridge |
*Ranges shown are approximate and change frequently. Insured mortgages (less than 20% down) often qualify for lower rates. Call me for your exact rate — it takes 30 seconds.
💪 Why My Rate Beats the Bank
When you walk into your bank, you're seeing one lender's rates. Their advisor is paid to sell you their products. They have no incentive to tell you that another lender down the street has a rate 0.30% lower with better terms.
As a broker, I'm the opposite. I submit your application to whichever lender offers the best deal for your situation. Here's what that typically looks like:
| ❌ Bank's posted rate: | Often 1%+ higher than what I can get |
| ✅ What you get through me: | The lowest rate from 20+ lenders |
| Your typical savings: | $5,000 – $15,000+ over a 5-year term |
And it costs you nothing. My services are free to you — the lender pays my fee. You get the same rate (or better) as going to the lender directly, plus the advantage of having someone shop the entire market for you.
💡 Rate Isn't Everything — Here's What Else Matters
I've seen people save 0.10% on rate and then lose $12,000 on a penalty when they needed to sell early. The rate is important, but it's only one piece. Here's what else I look at:
| Feature | Why It Matters |
|---|---|
| Prepayment privileges | Can you put 15% or 20% extra per year? Some lenders restrict this to 10% — that limits your ability to pay down faster. |
| Penalty calculation | Big banks use IRD (Interest Rate Differential) — penalties of $10,000–$20,000+ are common. Monoline lenders typically charge just 3 months' interest. |
| Portability | If you sell and buy a new home, can you transfer your mortgage? Not all lenders allow this, and restrictions vary. |
| Blend & extend | If rates drop mid-term, can you blend your old rate with a new lower rate? Some lenders offer this, some don't. |
| Refinance restrictions | Some low-rate mortgages are "no-frills" — they restrict refinancing or have a bona fide sale clause. I'll tell you upfront if there are strings attached. |
| Lender reputation | Some lenders are great until you need to make a change. After 25+ years, I know which lenders are fair to deal with and which ones make your life difficult. |
This is why I don't just find you the lowest rate. I find you the lowest total cost mortgage — the one that gives you the best rate AND the flexibility to handle whatever life throws at you.
📈 Fixed vs. Variable — The Honest Answer
Everyone asks this question. Here's the straightforward answer:
🔒 Fixed Rate — Choose If:
• You want payment certainty — same amount every month
• You'd lose sleep if your payment went up $200
• You're stretching to qualify and can't absorb increases
• You plan to stay for the full 5-year term
📈 Variable Rate — Choose If:
• You can handle payment fluctuations
• You might sell, refinance, or pay off early (lower penalties)
• Historically, variable has saved money ~80% of the time
• You want flexibility and are comfortable with some risk
Not sure? That's exactly what a 10-minute call is for. I'll look at your situation and tell you what I'd do if I were in your shoes.
📋 How to Get Your Personalized Rate
It takes 30 seconds. Call or text me and tell me:
1. Are you purchasing, renewing, or refinancing?
2. Roughly what's the property value or mortgage amount?
3. How much is your down payment (for purchases)?
That's it. I'll give you a rate range immediately and a firm rate once I review your full details. No credit check needed for an initial quote.
📊 Run the Numbers Yourself
Use my free mortgage calculators to estimate payments, closing costs, affordability, and more — before you talk to any lender.
Open Mortgage Calculators →📚 Explore My Mortgage Guides
Learn more about the topic that fits your situation:
Get Your Personalized Rate — 30 Seconds
Tell me what you're doing (buying, renewing, or refinancing), the property value, and your down payment. I'll give you a rate immediately. No credit check. No obligation.
Call/Text: 403-703-6847
Email: Shawn@ShawnSelanders.ca
Office: 614 High View Park NW, High River, AB T1V 1E5
Hours: Mon–Fri 9:00–7:00 | Sat–Sun 12:00–5:00
Shawn Selanders — RECA-licensed mortgage broker serving Calgary, Okotoks, High River, and Southern Alberta since 1999. Rates shown are estimates and subject to change without notice. O.A.C. E.&O.E.