→Holding steady
Bank of Canada meets in 37 days · October 28Enjoy the calm while it lasts — just don't mistake steady rates now for steady rates come spring.
5-year variable · live from lender desks
Best 5-year variable mortgage rates in Alberta.
3.60%*
5-year variable · lowest live lender rate today
Rides Prime. Cheaper every time the Bank cuts.
The Hello take
Rides Prime. Cheaper every time the Bank cuts.
The surfer. Your rate is Prime minus a discount, so it moves the day the Bank of Canada moves. Historically it's beaten fixed more often than not—and the penalty to break it is just three months' interest, which is the part people forget to price in.
Pick this if…
- You think the Bank of Canada has more cutting to do
- You might sell, refinance or move before five years are up
- You can handle a payment that changes and want the long-run edge
Skip it if…
- A payment change would genuinely stress your budget
- You'd check the news every rate announcement
- The gap between fixed and variable is thin today (we'll show you the math)
Every lender, this term
Who's offering what.
Every 5-year variable rate on our desks today, lowest first. The top few lenders are masked—their pricing is negotiated, and they'd rather we didn't paste it on the internet. Ask and we'll tell you exactly who.
RateLender
3.60% lowestTop lender · name on requestBroker Channel Only · Not Available Direct
3.60%Top lender · name on requestBroker Channel Only · Not Available Direct · 30bps Extra Comp Promo
3.60%Top lender · name on requestBroker Channel · Best Available Today
3.65%People's
3.70%RFA
3.70%First National
3.70%Merix-Lendwise
3.70%Servus
3.75%MCAP · Fusion pilot rate for insurable 5yr ARM
3.80%Neo
3.85%ATB
4.95%Wealth One
*Lowest available today for well-qualified borrowers. Your rate depends on down payment, credit and property—we'll tell you which one is yours.
Rate forecast · this term
Where it's heading.
Our crystal ball is mostly spreadsheets. Every morning, we read the bond yields, the lender rate sheets and the analyst emails, then write down what we think—and post it publicly, so you can check our work.
Hello Mortgage InsightsUpdated Sep 21
Variable rates are holding at 3.55% because the Bank of Canada is waiting to see if high oil prices spill into broader inflation — so far they haven't, but the next inflation numbers will be the tripwire. Bond yields dipped 0.09% over five days, so fixed rates may ease this week, though Fed hikes and oil near $100/barrel could reverse that quickly.
Versus the alternatives
Same $500k mortgage. Every term.
Monthly payments over 25 years on today's lowest rate for each term—so you can see exactly what the certainty (or the flexibility) costs.
TermLowest todayMonthlyvs this page
5-Year Variable · this page3.55%$2,510 /mo—
5-year variable mortgages, explained
The questions you're asking. And the ones you should be.
The best available 5-year variable mortgage rate in Alberta is 3.60% as of today. Rates update live as our lender desks email new pricing. Your actual rate depends on your credit score, down payment, and property type — inquire for a personalized quote.
A 5-year variable tracks the Bank of Canada's overnight rate. You're locked in for 5 years, but your rate (and often payment) moves whenever the BoC moves. Best for buyers who believe rates will fall over the next 5 years — you capture every cut immediately without re-financing.
Depends on where the Bank of Canada is headed. See our Variable → Fixed analysis tool from the homepage — it pulls today's bond yields, the BoC's last call, and economist briefings to model the next 12 months on your specific file. Short version: if variable saves you more than the rate-rise risk costs, stay variable.
We pull live rates from our broker-desk lenders across Canada and match them to Alberta buyers and homeowners. Unlike sites that show bait rates, every rate here is bookable today with a pre-approval — filtered to what you actually qualify for.
Most best-available rates require a credit score of 680+, stable income, and a 20% down payment (or insured with 5%+). If your situation is different, we can still find the best rate you qualify for — we work with specialty lenders for unique scenarios.
Variable rates only change when the Bank of Canada adjusts their overnight rate (8 scheduled dates per year). Once they move, lenders pass the change through to your variable rate within days.
Yes. Most lenders offer a 120-day rate hold with pre-approval — meaning you lock today's rate for up to four months while you shop for a home. If rates drop in that window, you get the lower one. If they rise, you keep your locked rate.
Big-bank posted rates are marketing numbers — you'd never actually pay that. What we show are real broker-channel rates from the same Canadian lenders, often 0.50–1.50% below the posted rates you'd be quoted walking into a branch.
Other terms
Meet the rest of the flock.
1-year fixedTwelve months and you're renegotiating.4.59%
2-year fixedA short hop while the market sorts itself out.4.19%
3-year fixedEnough certainty to sleep. Short enough to come back to the table.4.04%
4-year fixedNobody's favourite. Occasionally the smartest.4.29%
5-year fixedSet it. Forget it. Five years, no surprises.4.24%
Already in a variable?Lock in, or hold on? Let's run it.Run my numbers →
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