Looking for the best mortgage rates in Edmonton? As of March 2026, Edmonton is experiencing a balanced market with steady activity. The average home price sits at $420,000, +3.8% from last year. Whether you’re a first-time buyer, refinancing, or investing, we’ll help you navigate the local market and find the best rates.
Today’s Best Rates in Edmonton
Today's Best Mortgage Rates
Compare discounted rates from Canada's top lenders. These are actual rates you can get - not posted bank rates.
Featured Mortgage Rates
Best discounted rates available today – sorted by lowest rate
| Term | Lender | Best Rate | |
|---|---|---|---|
| 5-Year Variable | National Bank | 3.45% | Get This Rate |
| 3-Year Fixed | National Bank | 3.69% | Get This Rate |
| 4-Year Fixed | National Bank | 3.79% | Get This Rate |
| 5-Year Fixed | RFA Mortgage | 3.84% | Get This Rate |
| 2-Year Fixed | First National | 4.19% | Get This Rate |
| 1-Year Fixed | MCAP | 4.49% | Get This Rate |
| 7-Year Fixed | National Bank | 4.54% | Get This Rate |
| 10-Year Fixed | MCAP | 4.69% | Get This Rate |
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Get Approved Today* Rates shown are discounted rates for insured mortgages. Rates may vary based on credit profile, down payment, and property type. Subject to change without notice. OAC.
Edmonton Real Estate Market Snapshot (March 2026)
| Notes | ||
|---|---|---|
| Average Home Price | $420,000 | +3.8% from last year |
| Average Condo Price | $195,000 | Entry-level option |
| Price Trend (YoY) | ↑ +3.8% | Year-over-year change |
| Days on Market | 35 days | Average time to sell |
| Market Conditions | Balanced | Current market type |
| Sales-to-Listing Ratio | 45% | Market activity level |
Down Payment Requirements
| Min. Down Payment | Amount Needed | ||
|---|---|---|---|
| Average Home | $420,000 | 5% | $21,000 (CMHC insurable) |
| Average Condo | $195,000 | 5% | $9,750 (CMHC insurable) |
| With 20% Down | $420,000 | 20% | $84,000 (no CMHC premium) |
Edmonton Mortgage Market Overview 2026
Edmonton is Canada’s most affordable major city. At $420,000 average, homes cost less than a Vancouver condo or Toronto townhouse. Government employment provides exceptional job stability, while the University of Alberta anchors education and healthcare sectors. First-time buyers can enter the market with minimal down payments—just $23,500 (5%) for an average home. Edmonton offers genuine homeownership opportunities that have disappeared in other major cities.
Maximum Value for First-Time Buyers
Edmonton’s affordability allows first-time buyers to purchase detached homes rather than condos. A $420,000 budget buys a 1,500-2,000 sq ft home with a yard—comparable to $1M+ properties in Toronto. CMHC insurance is available for almost all Edmonton purchases, keeping down payment requirements low. Government employees enjoy exceptional job security, often qualifying for preferred mortgage terms.
Top Mortgage Lenders in Edmonton
| Best For | ||
|---|---|---|
| TD Canada Trust | Big 5 Bank | Wide branch network, full service |
| ATB Financial | Regional Bank | Alberta focused, full service |
| Servus Credit Union | Credit Union | Alberta, member benefits |
| Connect First | Credit Union | Alberta, personal service |
💡 Pro tip: Work with a mortgage broker to compare rates from multiple lenders at once.
Edmonton Neighborhoods Comparison
| Price Range | ||
|---|---|---|
| Downtown | First-time buyers | Premium ($546,000+) |
| Old Strathcona | Families | Above average ($462,000+) |
| Glenora | Investors | Mid-range ($357,000-462,000) |
| Westmount | Professionals | Mid-range ($357,000-462,000) |
| Windermere | Retirees | Entry-level ($294,000-378,000) |
| Summerside | Students | Entry-level ($294,000-378,000) |
Mortgage Tips by Buyer Type
| Key Consideration | ||
|---|---|---|
| 🏠 First-Time Buyers | Edmonton offers Canada’s most affordable major city housing with strong income potential. | Build credit, save for down payment |
| 🔄 Refinancing | Lower home prices mean faster loan payoff—consider accelerated payment strategies. | Consider break costs vs savings |
| 📈 Investors | University of Alberta and government employment create steady rental demand. | 20% down required, higher rates |
Frequently Asked Questions About Edmonton Mortgages
Get answers to the most common mortgage questions for Edmonton home buyers, including down payments, rates, and qualification requirements.
What are the best mortgage rates in Edmonton, AB?
The best mortgage rates in Edmonton start at 3.74% for a 5-year fixed, 3.69% for a 3-year fixed, and the best variable rate is currently Prime minus 1.00%. Rates are consistent across Canada, but Edmonton borrowers can access even better deals through a mortgage broker who compares 50+ lenders. Your actual rate depends on your credit score, down payment, and property type. Contact us for a personalized rate quote for Edmonton.
What is the best 5-year fixed mortgage rate in Edmonton?
The best 5-year fixed mortgage rate available in Edmonton is currently 3.74%. This rate is available through select lenders for well-qualified borrowers with strong credit (680+) and at least 20% down payment. Insured mortgages (less than 20% down) may qualify for even lower rates. A mortgage broker can help you lock in the best 5-year fixed rate for your Edmonton home purchase or renewal.
How much do I need to buy a home in Edmonton?
The average home price in Edmonton is $420,000—well below Canada’s national average. You need just 5% down ($21,000) with CMHC insurance. First-time buyers can combine the FHSA ($40,000 tax-free savings) and RRSP Home Buyers’ Plan ($60,000) to cover most or all of the down payment. At 3.74% fixed, monthly payments are very affordable.
Should I choose a fixed or variable mortgage rate in Edmonton?
In Edmonton’s current market, the best 5-year fixed rate is 3.74%, the 3-year fixed is 3.69%, and the best variable rate is Prime minus 1.00%. Fixed rates offer payment stability—important for Edmonton buyers with growing families. Variable rates can save money if the Bank of Canada continues adjusting rates. Your mortgage broker can model both scenarios based on your Edmonton property and budget.
Should I use a mortgage broker or bank in Edmonton?
A mortgage broker in Edmonton compares rates from 50+ lenders—banks, credit unions, and monoline lenders—at no cost to you. Major banks in the area include TD Canada Trust, ATB Financial, Servus Credit Union. Brokers typically save Edmonton borrowers 0.25-0.50% compared to posted bank rates, which on a $500,000 mortgage saves $6,000-12,000+ over a 5-year term.
How do I get pre-approved for a mortgage in Edmonton?
Getting pre-approved for a Edmonton mortgage takes 24-48 hours. You’ll need government ID, proof of income (pay stubs, T4s, or business financials if self-employed), bank statements, and a credit check. Pre-approval locks in your rate for 90-120 days at today’s 3.74% fixed rate, confirms your budget, and shows Edmonton sellers you’re a serious buyer. It’s free and doesn’t commit you to a lender.
What first-time buyer programs are available in Edmonton, Alberta?
First-time buyers in Edmonton can access several programs: the First Home Savings Account (FHSA) for up to $40,000 in tax-free savings, the RRSP Home Buyers’ Plan ($60,000 tax-free withdrawal), extended 30-year amortization on insured mortgages (new construction or homes up to $1.5M), and the First-Time Home Buyer Tax Credit ($1,500). Alberta has no land transfer tax, saving buyers thousands in closing costs compared to other provinces. A Edmonton mortgage broker can help you maximize all available incentives.
Why is Edmonton so much cheaper than Calgary?
Edmonton’s economy is more government-focused while Calgary leads in corporate energy headquarters. Calgary attracts higher-income earners, driving prices up. Edmonton offers similar quality of life at lower cost.
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