Calgary Mortgage Rates Today
By Daniel De Sousa · Published October 1, 2026 · Rates verified September 28, 2026
As of September 28, 2026, the lowest advertised insured five-year fixed mortgage rate from Canadian lenders is 4.29%, the lowest five-year variable rate is 3.25%, and prime is 4.45% (lender rate survey). Most lenders price mortgages nationally, so these are the numbers a Calgary borrower should compare a quote against. Fixed rates rose 25 basis points over the previous 30 days while variable rates held.
We update this page every month and after each Bank of Canada rate decision.
Key Takeaways
– Best insured five-year fixed: 4.29%. Best five-year variable: 3.25%. Prime: 4.45% (lender rate survey, September 28, 2026).
– The Bank of Canada held its policy rate at 2.25% on September 2. Its next decisions are October 28 and December 9.
– On Calgary’s August benchmark home ($569,800) with the minimum down payment, the five-year fixed payment is about $3,031 a month and the variable payment about $2,719.
– Calgary sales fell 16% year over year in August, and there are close to four months of supply on the market (CREB).
What are the best mortgage rates in Calgary today?
The lowest advertised rates across more than 50 Canadian lenders on September 28, 2026 were 4.29% for an insured five-year fixed and 3.25% for a five-year variable (lender rate survey). Insured rates apply when you put down less than 20%, and they’re usually the lowest available because default insurance backs the loan.
| Product | Lowest advertised rate |
|---|---|
| Five-year fixed, insured | 4.29% |
| Five-year fixed, uninsurable | 4.34% |
| Three-year fixed, insured | 4.19% |
| Five-year variable, insured | 3.25% |
| Prime rate | 4.45% |
| Bank of Canada policy rate | 2.25% |
Advertised rates assume strong credit, stable income and a standard property. A rental, self-employed income, a larger loan or a longer amortization can change your quote. Our Alberta mortgage rates page covers the same products province-wide, and our Edmonton mortgage rates page does the same for the capital region.
Why are fixed rates rising while the Bank of Canada holds?
The Bank of Canada held its policy rate at 2.25% on September 2, 2026, and said CPI inflation had been hovering around 3%, mainly because of higher gasoline prices (Bank of Canada). August inflation came in at 3.0%, unchanged from July (Trading Economics).
Variable rates follow lender prime, which moves with the Bank’s policy rate. The Bank held, so variable rates held.
Fixed rates follow the five-year Government of Canada bond yield, which was about 3.68% on September 28 (Trading Economics). Lenders price fixed mortgages as a margin over that yield, so fixed rates climb when the yield climbs, even when the Bank doesn’t move. The Bank also reported second-quarter GDP growth of 3.3%, and stronger growth with inflation above target tends to push bond yields up. Our five-year fixed rate guide explains that link in more detail.
What do today’s rates mean for payments on a Calgary home?
The City of Calgary’s total residential benchmark price was $569,800 in August 2026, about 1% lower than a year earlier (CREB). Because that price is above $500,000, the minimum down payment is 5% of the first $500,000 plus 10% of the portion above it (Financial Consumer Agency of Canada).
| Amount | |
|---|---|
| Purchase price (City of Calgary benchmark, August) | $569,800 |
| Minimum down payment (5% of $500,000 + 10% of $69,800) | $31,980 |
| Mortgage before insurance | $537,820 |
| CMHC insurance premium (4.00%) | $21,513 |
| Total insured mortgage | $559,333 |
The loan works out to about 94% of the price, which puts it in CMHC’s 4.00% premium band (CMHC).
| Option | Rate | Monthly payment (25-year amortization) |
|---|---|---|
| Five-year fixed | 4.29% | about $3,031 |
| Three-year fixed | 4.19% | about $3,000 |
| Five-year variable | 3.25% | about $2,719 |
Payments use Canadian semi-annual compounding and exclude property tax and utilities.
Variable starts about $312 a month lower. Its rate would have to rise by 104 basis points, roughly four quarter-point increases, before the variable payment matched today’s fixed payment. Whether that cushion is worth the uncertainty comes down to your budget. Our fixed versus variable comparison walks through it.
Calgary’s benchmark is about $142,900 higher than the Greater Edmonton Area benchmark of $426,900 for the same month (CREA board statistics). At the same rates, that difference adds roughly $750 a month to a fixed payment.
How is Calgary’s housing market affecting borrowers?
CREB reported 1,660 sales in the City of Calgary in August 2026, down 16% from a year earlier, while new listings fell nearly 10% to 3,141 (CREB). Inventory stood at 6,509 homes, close to four months of supply, and the benchmark price was similar to July.
CREB’s chief economist, Ann-Marie Lurie, said sales growth at the upper end of the market was possible because buyers had more supply to choose from.
With more homes on the market and fewer buyers, you have time to compare properties and negotiate. That time also makes a rate hold worth having, since fixed rates moved up 25 basis points in a single month. If you’re buying your first home, our first-time home buyer guide covers the programs and costs.
What rate will you actually get?
Your rate depends on more than the market:
- Whether the mortgage is insured. Insured mortgages (less than 20% down) usually get the lowest rates. The best uninsurable five-year fixed is 4.34%.
- The term. Today the three-year fixed is 10 basis points below the five-year.
- Your credit score, income type and existing debts.
- The property. Rentals, larger multi-unit buildings and some condos can price higher.
- The lender. Banks, monoline lenders that work through brokers, and Alberta credit unions all lend in Calgary.
We work with more than 30 lenders, including ATB Financial, Servus Credit Union, CMLS and Scotiabank, so we compare them on your actual file rather than on advertised rates alone.
Should you lock in a rate now?
If you plan to buy or renew within the next four months, a rate hold costs nothing and protects you if fixed rates keep rising. Lenders typically hold a preapproved rate for 60 to 130 days, depending on the lender (Financial Consumer Agency of Canada). When we pre-approve you, we hold a rate with one lender and keep watching the market while you shop, and we can usually turn a pre-approval around within 24 hours.
Our guides on rate holds and when to lock your rate cover the details. If your mortgage is coming up for renewal instead, start with our mortgage renewal guide.
Frequently asked questions
What is the best five-year fixed mortgage rate in Calgary right now?
As of September 28, 2026, the lowest advertised insured five-year fixed rate from Canadian lenders is 4.29%, and the lowest uninsurable rate is 4.34%. Your own rate depends on your down payment, credit, income and property, so use these as a benchmark when you compare quotes.
Are Calgary mortgage rates different from Edmonton’s?
Mostly not. Most lenders price mortgages nationally, so the same advertised rate generally applies in Calgary and Edmonton. The difference is house prices: Calgary’s August benchmark was about $142,900 higher than the Greater Edmonton Area’s, which means a larger mortgage and a higher down payment on a typical home.
How much do I need for a down payment on a Calgary home?
On a home priced between $500,000 and $1.5 million, the minimum is 5% of the first $500,000 plus 10% of the rest. On Calgary’s August benchmark of $569,800, that’s $31,980. Homes of $1.5 million or more need 20% down.
Will mortgage rates in Calgary go down?
That depends on inflation and bond yields. August inflation was 3.0%, above the Bank of Canada’s 2% target, and the five-year bond yield has been rising, which has pushed fixed rates up. Variable rates fall only if the Bank cuts its policy rate. Its next decisions are October 28 and December 9, 2026.
Should I choose fixed or variable in Calgary right now?
Variable is 104 basis points cheaper today, about $312 a month less on Calgary’s benchmark home with the minimum down payment. Choose fixed if you need a predictable payment for the full term. Choose variable if your budget can absorb increases and you’d rather start lower.
Talk to a Calgary mortgage broker
If you’re buying, renewing or refinancing in Calgary in the next few months, we’ll compare your options across our 30+ lenders and show you the payments on your own numbers. Call 780-974-1270, email info@MetroMortgageGroup.ca, or learn more about working with our Calgary mortgage broker team.
About the author: Daniel De Sousa is co-owner of Metro Mortgage Group and an Edmonton mortgage broker. He works with first-time buyers, renewals and pre-approvals across Alberta.
Sources
- Lender rate survey, lowest advertised Canadian mortgage rates, retrieved 2026-09-28, https://wowa.ca/mortgage-rates
- Bank of Canada, Policy interest rate announcement, September 2, 2026, retrieved 2026-09-28, https://www.bankofcanada.ca/2026/09/fad-press-release-2026-09-02/
- Trading Economics, Canada Inflation Rate and Canada 5-Year Bond Yield, retrieved 2026-09-28, https://tradingeconomics.com/canada/inflation-cpi
- CREB, Sales and new listings slow in August, retrieved 2026-09-28, https://www.creb.com/News/CREBNow/2026/September/August_2026_Stats/
- CREA, REALTORS Association of Edmonton board statistics, August 2026, retrieved 2026-09-28, https://stats.crea.ca/board/edmo/
- CMHC, Mortgage loan insurance premiums, retrieved 2026-09-28, https://www.cmhc-schl.gc.ca/consumers/home-buying/mortgage-loan-insurance-for-consumers/cmhc-mortgage-loan-insurance-cost
- Financial Consumer Agency of Canada, Down payment and Getting preapproved for a mortgage, retrieved 2026-09-28, https://www.canada.ca/en/financial-consumer-agency/services/mortgages/down-payment.html
Rates last verified September 28, 2026. Rates change often; call for a current quote.
