Edmonton Mortgage Rates Today
By Daniel De Sousa · Updated September 28, 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 right numbers for Edmonton borrowers to measure a quote against. Fixed rates have risen 25 basis points in the last 30 days, while variable rates have held.
This page is updated each month and after every 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.
– Fixed rates are rising because the five-year Government of Canada bond yield climbed to about 3.68%.
– On the Greater Edmonton Area’s August benchmark home ($426,900) with 5% down, the fixed payment is about $2,285 a month and the variable payment about $2,051.
– Greater Edmonton Area sales fell 9.8% year over year in August while new listings rose 3.3%, so buyers have more choice this fall.
What are the best mortgage rates in Edmonton 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 rates available because the mortgage is backed by default insurance.
| 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 a strong credit score, stable income and a standard property. Your quote can differ for a rental, a self-employed income, a larger loan or a longer amortization. Our Alberta mortgage rates page covers the same products province-wide.
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 that CPI inflation had been hovering around 3%, mainly because of higher gasoline prices (Bank of Canada). Statistics released since then put August inflation 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 instead. That yield was about 3.68% on September 28 (Trading Economics). Lenders add a margin to it, so fixed rates climb when the yield climbs, even in a month when the Bank doesn’t move.
The Bank’s statement pointed to stronger growth, with GDP up 3.3% in the second quarter, and said recent data reaffirmed “a broadening recovery in Canada’s economy.” It also noted that uncertainty is high and that new US tariffs pose risks to that recovery. Higher inflation and stronger growth both tend to push bond yields up, which is the pressure fixed rates are under now. Our five-year fixed rate guide explains the bond yield link in more detail.
What do today’s rates mean for payments on an Edmonton home?
The Greater Edmonton Area benchmark home price was $426,900 in August 2026, according to the REALTORS Association of Edmonton (CREA board statistics). Here’s what that home costs each month with the minimum 5% down payment:
| Amount | |
|---|---|
| Purchase price (Greater Edmonton Area benchmark, August) | $426,900 |
| Minimum down payment (5%) | $21,345 |
| Mortgage before insurance | $405,555 |
| CMHC insurance premium (4.00%) | $16,222 |
| Total insured mortgage | $421,777 |
The 5% minimum applies to homes up to $500,000 (Financial Consumer Agency of Canada), and CMHC charges a 4.00% premium when the loan is above 90% of the price (CMHC).
| Option | Rate | Monthly payment (25-year amortization) |
|---|---|---|
| Five-year fixed | 4.29% | about $2,285 |
| Three-year fixed | 4.19% | about $2,262 |
| Five-year variable | 3.25% | about $2,051 |
Payments use Canadian semi-annual compounding and exclude property tax and heating.
Variable starts about $235 a month lower. The variable rate would have to rise by 104 basis points, about four quarter-point increases, before its payment reached today’s fixed payment. Whether that cushion is worth the uncertainty depends on your budget. Our fixed versus variable comparison walks through the trade-offs, and our affordability guide shows what you’d qualify for.
How is Edmonton’s housing market affecting borrowers?
The REALTORS Association of Edmonton reported 2,143 sales across the Greater Edmonton Area in August 2026, down 15.4% from July and 9.8% from August 2025 (CREA board statistics). New listings rose 3.3% year over year to 3,769. The average selling price was $469,602, up 1.8% from a year earlier, while the benchmark price of $426,900 was down 0.6%.
The association said the slowdown reflects normal seasonal trends as autumn approaches, and that inventory is continuing to build.
For buyers, a slower market with more listings means more choice and more time to negotiate. It also means a rate hold matters. If you take four to eight weeks to find the right home, a hold protects you from further increases in fixed rates while you look. 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 several things beyond the market:
- Whether the mortgage is insured. Insured mortgages (less than 20% down) usually get the lowest rates. The best uninsurable five-year fixed rate is 4.34%, five basis points above insured.
- The term. Three-year and five-year terms are priced differently, and today the three-year fixed is 10 basis points below the five-year.
- Your credit score, income type and debt levels.
- The property. Rentals, larger multi-unit buildings and some condos can price higher.
- Where you get the mortgage. Banks, monoline lenders that work through brokers, and Alberta credit unions all compete for Edmonton borrowers.
We work with more than 30 lenders, including ATB Financial, Servus Credit Union, CMLS and Scotiabank, so we can compare them on your actual file rather than on advertised rates alone.
Should you lock in a rate now?
If you expect to buy or renew in the next four months, getting a rate hold now costs nothing and protects you if fixed rates keep rising. When we pre-approve you, we hold a rate with one lender and keep watching the market while you shop. We can usually turn around a pre-approval within 24 hours.
If rates fall before you close, a hold doesn’t lock you out of a lower rate, although how that works varies by lender. Our guides on rate holds and when to lock your rate explain the details. Renewing instead of buying? See our mortgage renewal guide.
Frequently asked questions
What is the best five-year fixed mortgage rate in Edmonton 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 compare a personal quote against these benchmarks rather than expecting the advertised figure.
Are Edmonton mortgage rates different from Calgary or the rest of Canada?
Mostly not. Most lenders price mortgages nationally, so the same advertised rate generally applies in Edmonton, Calgary and Toronto. What differs is which lenders are active locally. Alberta has its own credit unions and ATB Financial, which compete alongside the national banks and monoline lenders.
Will mortgage rates go down in Edmonton?
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 will only fall if the Bank cuts its policy rate. Its next decisions are October 28 and December 9, 2026.
Should I choose fixed or variable in Edmonton right now?
Variable is 104 basis points cheaper today, about $235 a month less on the Greater Edmonton Area benchmark home with 5% down. Choose fixed if you need a predictable payment for five years. Choose variable if your budget can absorb increases and you’d rather start with the lower payment.
How often is this page updated?
We update this page every month and after each Bank of Canada rate decision. The date the rates were last checked appears at the bottom of the page. Rates can change daily, so call us for a current quote before you make a decision.
Talk to an Edmonton mortgage broker
If you’re buying, renewing or refinancing in the next few months, we’ll compare your options across our 30+ lenders and show you the payments on your actual numbers. Call 780-974-1270, email info@MetroMortgageGroup.ca, or learn more about working with our Edmonton 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
- 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, 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.
