Rates Updated June 19, 2013 09:31:14
Best Closed Mortgage Rates
| Best Fixed Rates | Best Variable Rates | |||||
|---|---|---|---|---|---|---|
| 6 Mo |
|
4.00%
|
||||
| 1 Year |
|
2.39%
|
|
2.80%
|
||
| 2 Years |
|
2.39%
|
||||
| 3 Years |
|
2.47%
|
|
3.20%
|
||
| 4 Years |
|
2.65%
|
||||
| 5 Years |
|
2.84%
|
|
2.45%
|
||
| 6 Years |
|
3.39%
|
||||
| 7 Years |
|
3.39%
|
||||
| 8 Years |
|
6.55%
|
||||
| 9 Years |
|
6.55%
|
||||
| 10 Years |
|
3.55%
|
||||
| 25 Years |
|
8.75%
|
||||
Best HELOC Mortgage Rates
| HELOC |
|
3.00%
|
Best Open Mortgage Rates
| Best Fixed Rates | Best Variable Rates | |||||
|---|---|---|---|---|---|---|
| 6 Mo |
|
6.20%
|
|
3.80%
|
||
| 1 Year |
|
4.00%
|
||||
| 2 Years |
|
6.50%
|
||||
| 3 Years |
|
3.80%
|
||||
| 5 Years |
|
3.50%
|
||||
More About Alberta
Alberta Housing and Mortgage Overview
According to the Canadian Mortgage Housing Corporation (CMHC), Alberta will continue to experience the strongest growth of the Canadian provinces due to its commodity-driven economy, further fuelled by investment in exploration and the development of natural resources. Job creation, low unemployment rates and a strong economic outlook continue to increase net migration to the province, nearly doubling 2010 numbers to 40,000 over the forecast period - an increase that is reflected in the province's homeownership and rental demand.
Prices in Alberta are expected to rise by 2.2 per cent in 2012 to an average of $360,900, and are forecasted to rise nearly 3 per cent in 2013 to $371,500. Single family starts are expected to rebound from 2011's construction delays, and are projected to increase 14 per cent to 17,300 units in 2012. However, this growth will moderate in 2013 due to slightly higher mortgage rates and increased prices due to demand.
Source: CMHC
Alberta Key Stats
Source: Stats Canada
|
Metric |
Alberta |
Canada |
|
| Population (2011) | 3,779,400 | 34,482,800 | |
| Consumer Price Index (2011) (2002=100) |
125.7 | 119.9 | |
| Average Earnings (2011) (Per Week, $) |
$1,038.76 | $874.76 | |
| Unemployment Rate (2012) (SA, %) |
4.9% | 7.3% | |
| Housing Starts (2011) | 25,704 | 193,950 | |
| Average Residential Resale Price (annual % change) |
2011 (A*) | $353,394 0.3% |
$339,042% 5.8% |
| 2012 (F) | $360,900 2.1% |
$348,900* 2.9% |
|
| 2013 (F) | $371,500 2.9% |
$358,200* 2.7% |
|
| Mortgages Approved by Lenders, residential 2010 (thousands of dollars) | Chartered banks | $92,634 | $932,617 |
| Other | $33,963 | $291,486 | |
| Total | $126,597 | $1,224,103 | |
| 2011 A = stated by the CMHC Data based on application received date Mortgage approval data are gross and may not fully capture lending activities of credit unions, caisses populaires, other smaller institutions and privately-insured loans in some areas |
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Local Market Indicators
|
Census Metropolitan Area |
Total Housing Starts |
MLS Sales |
MLS Average Price |
|
| Calgary | 2011 | 9,292 | 22,466 | $402,851 |
| 2012 (F) | 11,600 | 24,500 | $410,000 | |
| 2013 (F) | 11,400 | 25,300 | $420,000 | |
| Edmonton | 2011 | 9,332 | 16,963 | $325,595 |
| 2012 (F) | 10,100 | 17,700 | $334,000 | |
| 2013(F) | 10,600 | 18,200 | $344,000 | |
| Sources: CMHC, Canadian Real Estate Association, Local Real Estate Boards, Statistics Canada MLS = Multiple Listings Service * Last updated July 2012 |
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