Edmonton Mortgage Rates
On the market for a home in Edmonton? Get more for your money with the best mortgage rates in the northern Alberta region, found on RateSupermarket.ca.
|Best Fixed Mortgage Rates||Best Variable Mortgage Rates|
|2.74%||Get Rate »||2.84%||Get Rate »|
|2.49%||Get Rate »||2.60%||Get Rate »|
|2.74%||Get Rate »||2.20%||Get Rate »|
|Fixed Mortgage Rates provide you with the security of never going up over your term. The most popular fixed mortgage rate term is five years.||Variable Mortgage Rates go up and down with the current prime rate. As they carry a higher risk, they generally offer a lower rate.|
Ranked #8 Best City in Canada to Live In
Edmonton is the capital of Alberta, with a Capital Region population of 1.2 million. Besides frigid winters, Edmonton has much to offer in terms of cultural and economic activity. Here are some fast facts about the provincial capital:
- There are no rats in Edmonton – or in all of Alberta, for that matter (but there are mosquitos; over 30 species, actually – and a lot of them)
- Edmonton is one of the largest cities by area in North America
- Home to North America's largest mall, the West Edmonton Mall, spanning the equivalent of 48 city blocks
- Edmonton has over 30 annual festivals year round. The Folk, Fringe and Street Performers festivals are all internationally renowned
- In the winter, Edmonton sees only 7 hours and 27 minutes of daylight per day
5 Things You Need To Know About Buying In Edmonton
- The average home price in Edmonton (the "Edmonton Capital Region" or CMA) is roughly $368,000 – that's just a bit lower than the national average ($398,000)
- Edmonton is a quickly growing city, due in large part to the strength of the Alberta economy. This is putting pressure on the housing market, forcing prices up and shortening the time it takes to sell a home
- Because of the steady demand, Edmonton is a ripe sellers' market
- Housing prices are highest in the city's southeast and southwest neighbourhoods, while more affordable homes exist in the northeast and northwest
- Bidding wars, especially for lower priced homes in Edmonton's more desirable neighbourhoods, are becoming more common as the population grows and drives up competition
Frequently Asked Question: Does Alberta's economy guarantee that the Edmonton housing market will remain strong in the years to come?
While nothing is guaranteed, home prices and construction will continue to climb in Alberta (unless, of course, we see a sudden drop in oil markets). Sustaining this growth is the strong provincial economy, which has ensured that the Alberta market has seen steady gain as opposed to stagnation. The economy is also attracting new people – Alberta's population growth is the highest in the country. This means that a constant demand for housing will keep the market tight and drive price increases. Overall, Edmonton is well positioned for the years to come.
Edmonton Housing Statistics
With such a strong economy and so much more to offer, Edmonton is an excellent destination for homeowners. Access to a wide array of cultural events and outdoor activities has earned Edmonton its reputation as one of the nicest places to live in Canada. Moreover, the price is right! Edmonton has remained an affordable place to live, and can be a great compromise for those looking for an urban lifestyle on a budget.
|Property Prices: Moderate||Quality of Life Index: High|
|Cost of Living: High||Traffic Index: High|
Buying Property in Edmonton – Important Links
Knowledge is power when it comes to making the most of your money, and this old adage is especially true when talking about mortgages. RateSupermarket.ca recommends the following resources to get you started on your mortgage journey in Edmonton:
Get Edmonton regional housing statistics from the Canada Mortgage and Housing Corporation.
Ever wonder what everyday items will cost you in Edmonton? You can compare the cost of living around the world here.
Get all the information you need about Edmonton public transit on the Edmonton Transit System website.
Are you new to Canada? Edmonton has a number of resources available to immigrants, aimed at providing a solid foundation for new Canadians.
For many families, nearby schools are a big factor in home buying decisions. Learn more about the Edmonton Public School Board and school locations here.