Are interest rates available in Alberta?

No Rates Available. Home prices in Alberta’s housing market continue to rise, even as interest rates rise too. For the month of June 2023, the average home price in Alberta was $468,519, up 4% compared to last year and down 0.3% from last month.

What is the amortization period for a mortgage in Alberta?

That said, most mortgages in Alberta have amortization periods of 25 years or less. The purpose of the property: Your mortgage rates will be different if you plan to live in the new home. Rates are generally higher for mortgages on rental or investment properties.

What is a good mortgage rate in Canada?

Currently, Canada’s interest rate environment is such that advertised mortgage rates range from 4.5% to over 7%. So if you are shopping for a mortgage, 5% is an attractive rate depending on the features of your mortgage.

What will mortgage rates be in 2025?

Currently, we face the highest mortgage rates of the past 15 years. Variable rate mortgage rates are expected to decline by as much as 1.5% by the end of 2025. Medium-term (5-year) mortgage rates are expected to decline by 0.8% until the end of 2025.