→Holding steady
Bank of Canada meets in 35 days · December 9You've got breathing room until December—just watch whether gas-pump pain starts showing up in grocery bills.
5-year variable · live from lender desks
Best 5-year variable mortgage rates in Alberta.
3.75%*
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.
Compare our available 5-year variable rates, lowest first. A great rate is a good start—but the right mortgage needs to fit your plans, too. We’ll help you understand which offers could work for you and what comes with them. The top few lenders are masked—they'd rather we didn't paste their pricing on the internet.
RateLender
3.75% lowestHello Mortgage Featured RateOur sharpest featured rate this term—we’ll walk you through what comes with it and whether it fits your plans.
3.80%Top Canadian LenderBroker Channel · Best Available Today
3.85%Top Canadian Specialty LenderHello Mortgage Featured · Broker Channel
3.85%Top Canadian LenderBroker Channel · Best Available Today
3.85%Neo
3.95%RMG · Low Rate Basic - Special
3.95%RMG · RMG Medical Professional Program (special)
3.95%RMG · Insured - Collateral Transfer - Special
3.95%Merix-Lendwise
3.95%RMG · RMG Borrowed Down Payment
3.95%RFA
3.95%RMG · RMG Low Rate - Medical Professionals Program
3.95%RMG · Standard Special
3.95%Strive · Insured Transfer
3.95%Strive · Insured Purchase / Transfer
3.95%Strive · Healthcare Professional Program
3.95%Strive · Insurable / Purchase Transfer
3.95%CMLS
3.95%MCAP
3.95%First National
3.95%RMG · Collateral Transfer Special
3.95%Radius
4.00%Merix-Lendwise · Small Rental Program
4.00%Servus
4.00%RMG · Rental: 2-4 Units
4.00%Servus · Progress Draw Mortgage - At Completion
*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 Nov 4
The Bank of Canada hiked by a quarter of a percent last week to 2.50% and signalled it will pause only if businesses stop passing on fuel costs or if inflation expectations start falling. Variable rates are frozen until the next meeting on December 9, where economists expect a hold—core inflation is on target and growth is running softer than the Bank forecast.
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 page3.75%$2,563 /mo—
5-year variable mortgages, explained
The questions you're asking. And the ones you should be.
The honest answers.
The best available 5-year variable mortgage rate in Alberta is 3.75% 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.4.19%
2-year fixedA short hop while the market sorts itself out.4.49%
3-year fixedEnough certainty to sleep. Short enough to come back to the table.4.49%
4-year fixedNobody's favourite. Occasionally the smartest.4.54%
5-year fixedSet it. Forget it. Five years, no surprises.4.49%
Already in a variable?Lock in, or hold on? Let's run it.Run my numbers →
Straight from Google
Our clients say it better.
Hello Mortgage Team has over 150 ★★★★★ reviews!
Read our reviews on GoogleWorking with Matt to renew our mortgage was an exceptional experience for us, having only worked directly with the bank previously. So much so that at several points in the process my wife and I actually said to each other "I didn't realize this could be so easy!" The online system for gathering and sharing the necessary documents is incredibly easy to use, and Matt completely overcommunicated (complimentary) through the entire process. He was also incredibly responsive to any of the questions we had that he hadn't already anticipated us asking. Ultimately, working with Matt was an eye opening experience for us, and oh yeah...we got the best possible mortgage rate and terms we could've asked for. Would recommend Matt to any friend or stranger looking for a fantastic mortgage broker.
★★★★★— Jeff W.1 / 147
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