TODAY'S
MORTGAGE RATES IN Edmonton

Edmonton offers a range of mortgage options, including big banks like RBC, TD, Scotiabank, CIBC, BMO, National Bank, and regional players such as ATB Financial or Canadian Western Bank. Branch access is smooth if you're already a customer, but the rates may not always be the lowest-comparing makes sense.

Local Credit Unions

Alberta credit unions often deliver better service and competitive rates, especially for long-time members. Here are key options in and around Edmonton:

• Servus Credit Union – Based in Edmonton, the largest credit union in Alberta with over 100 branches. Offers fixed and variable mortgages plus a profit-share program that can help reduce interest costs.

• connectFirst Credit Union – 42 branches across Alberta. Offers flexible fixed or variable terms from 1 to 5 years, including plans that let you pay down up to 20% of the principal annually.

• Christian Credit Union – Founded in Edmonton in 1952. Offers fixed and variable terms, open and closed mortgages, plus profit-sharing and flexible prepayment options.

• ABCU Credit Union Ltd. – Along with smaller ones like Vision, Lakeland, Rocky, Vermilion, and Khalsa, also offer insured mortgage options under provincial regulation.

Mortgage Brokers in Edmonton

A good mortgage broker works for you, not the lender. They shop around, negotiate on your behalf, and help you compare your options. That's especially helpful if you're buying your first home or dealing with a more complex situation.

One brokerage worth highlighting is Everyrate.ca. They're fully licensed in Alberta and offer a wide selection of lender rates, all in one place. Whether you're after the lowest rate, a flexible prepayment plan, or just want someone to walk you through it, Everyrate.ca helps you find the right fit, without the hassle.

Other well-known brokers in Edmonton include True North Mortgage, The Mortgage Force Team, Cheryl Wilkes Mortgages, Gagan Chahal, The Mortgage Girl (Jackie Woodward), Brent Leah Mortgages, Benchmark Mortgages, and Flare Mortgage Group.

We've spoken with people who've had great experiences working with brokers who break things down clearly and genuinely advocate for their clients. A good broker can make a big difference not just in what rate you get, but in how confident you feel through the process.

Alternative and Private Lenders

Private and alternative lenders fill in the gaps when banks say no. These might be worth looking into if you're self-employed, new to Canada, or have credit issues.

They usually charge higher rates, but a broker can help you understand if the trade-off makes sense. We always suggest asking questions, reading the fine print, and ensuring it fits your long-term plans.

How to Choose the Right Lender

There's no single best lender. The right choice depends on your budget, your goals, and how long you plan to stay in the home. Here are a few key things to keep in mind:

• Know how much you can comfortably afford, not just what you're approved for
• Get pre-approved to understand your borrowing power before you shop
• Compare rates and terms from more than one lender. Don't take the first offer

• Use a platform like Everyrate.ca to view mortgage offers from over 97 lenders across Alberta in one place

Edmonton's real estate market still looks healthy, but the summer slowdown has cooled things slightly. After a brisk spring, prices eased and listings climbed. Here's where things stand as of July 2025.

Home Prices Keep Rising—But the Pace Is Easing

By July, the city's average selling price across all home types dipped to $463,078, a slight 0.4% decline from June, yet still about 5% higher than the same time last year. Detached houses averaged $578,442, up about 0.7% month-over-month and 4.8% above July 2024.

Semi-detached homes averaged $430,813; that's roughly 2% less than June yet still 5.8% higher than a year ago. Row/townhomes averaged $296,785 and apartments $209,711. Both segments declined modestly from June but remain higher year-over-year.

More Listings Are Coming, but Sales Have Cooled

July saw 2,860 residential sales, a slight drop from June and a 2.6% decline compared with July 2024. 4,387 new listings hit the market—about 7.8% more than June and 20% above last year. This influx of supply means there's more competition among sellers, which could lead to more strategic pricing and better-prepared homes. The total inventory now stands at 7,083 homes.

The Market Is Shifting Toward Balance

With sales lagging new listings, the sales-to-new-listings ratio sits around 65%, down from the high-pressure conditions earlier this year. That still favours sellers but signals a move toward balance. Buyers now have more choice and slightly more negotiating power, while sellers can no longer count on quick, above-list offers.

Rental Market Is Cooling Slightly

Rents have levelled off after last year's surge. Liv. Rent's July 2025 report pegs the average monthly rent for an unfurnished one-bedroom unit at about $1,304, up only $2 from June and about $15 below the same time in 2024. Furnished one-bedrooms average $1,471. Another local brokerage report put one-bedroom rents at $1,284 and two-bedrooms around $1,768.

Builders continue to add rental and multi-family units, which should help keep rents from spiking.

What This Means for You

• Sellers: Homes are still selling relatively quickly, but pricing and presentation matter more.

• Buyers: You have more choices than earlier this year. Pre-approval and clear priorities still help, but the urgency has eased.

• Investors & First-Time Buyers: Pay attention to segments that have softened—semi-detached, townhomes, and condos all saw small monthly price dips, offering potential value.

Quick Takeaways (July 2025)

Your down payment depends on the purchase price. With July's average prices, here's what you'll need:

How the Rules Work

• For homes priced $500,000 or less, your minimum down payment is 5% of the full price.

• For homes between $500,001 and $999,999, you pay 5% on the first $500,000 and 10 % on the remainder.

• Homes priced at $1 million or more require a 20% down payment.
• If your down payment is under 20 %, mortgage default insurance is required.

What This Means for You

Average detached homes now require a down payment of at least $32,844. Semi-detached, townhomes and condos require $10–22k. Prices are still lower than in many other major Canadian cities, so Edmonton remains relatively affordable. Remember that if you buy higher-priced homes, your minimum down payment escalates quickly.

Edmonton's fundamentals remain solid. Job growth and infrastructure upgrades, such as LRT expansions, continue to attract buyers from across Canada. With more inventory hitting the market and prices moderating, the city appears to be moving toward long-term stability. You'll still need to act decisively when a good home hits the market, but the frantic pace of early spring has faded.

Property taxes are a key part of your monthly homeownership costs in Edmonton. In 2025, the city approved a 5.7% increase to the municipal portion of the property tax bill. That works out to roughly $763 per $100,000 of assessed value—about $51 more than last year.

How Taxes Are Calculated

Your property taxes are based on the assessed value of your home as of July 1, 2024. The combined tax rate for 2025—including municipal and provincial education portions—is approximately 1.01% of your property's value.

For example, a home assessed at $465,500 would owe around $4,700 in total annual property taxes.

What to Know About Payment

Tax notices are sent out in May, with payment due by June 30. You can pay in full or sign up for the city's monthly payment plan. If you have a mortgage, your lender may collect and pay your taxes on your behalf.

Late payments are subject to penalties, and Edmonton does not accept credit cards directly.

Assessment Changes and Appeals

If your property's assessed value increased by more than the city average (around 8.4%), your tax bill may rise by more than 5.7%. You can review or appeal your property assessment up until March 19 each year.

Bottom line: Property taxes in Edmonton have gone up in 2025, and the amount you owe depends on your home's value and how it compares to others across the city. Check your tax notice and assessment details carefully to make sure everything's accurate.