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Calgary Mortgage Rates V/s Other Canadian Cities: A Comparison
February 14, 2026 | Posted by: Trintty Mortgage
When planning to buy a home in Canada, one of the biggest factors influencing the decision is the current mortgage rates in Calgary.Several factors influence mortgage rates in Calgary. These include national policies, city, lender competition and local housing demand.
Here is the detailed comparison of Calgary Mortgage rates v/s other major Canadian cities to help buyers, investors and first-time homeowners make an informed choice.
Why Mortgage Rates Differ Across Canadian Cities?
In Canada, Mortgage Rates are guided by national institutions like the Bank of Canada; local economic factors also play a major role.
The reasons why rates vary are-
• Local housing market demand and supply
• City-level employment growth
• Competition among regional lenders
• Risk assessment based on property price trends
• Average borrower profile in that city
• Provincial economic stability
• Real estate volatility trends
• Strong lender confidence in the market
Calgary Mortgage Rate Overview
Calgary has become one of the most attractive real estate markets in Canada due to its affordability and economic growth.
The highlights of Calgary Mortgage Rates are-
• Competitive compared to larger metro cities
• Lower average home prices are reducing lender risk
• Strong interprovincial migration is boosting housing demand
• Stable employment sector
• High competition among banks and brokers
• Attractive rates for first-time buyers
• Flexible mortgage products available
• Strong refinancing activity
Calgary offers slightly better rates than Toronto and Vancouver due to lower average property values and controlled market volatility.
Mortgage Rates in Calgary v/s Toronto
Mortgage Rates in Canada are influenced by the Bank of Canada policy rate. The best five-year fixed rates in Canada are around 3.69%, and the lowest variable rates are around 3.35% as of early 2026.
Calgary sees competitive local offers due to strong lender competition and comparatively lower property prices.
Toronto has a greater demand and higher average property prices, which can sometimes translate into slightly different lender pricing due to risk models and stress-test effects. Mortgage rates are similar, but a larger overall loan size increases total interest costs.
Mortgage Rates Comparison Table
|
Rate Type |
Estimated Calgary (%) |
Estimated Toronto (%)
|
|
5 Year Fixed |
Approx 3.69% to 4% |
Approx 3.69% to 4.10% |
|
5 Year Variable |
Approx 3.35% to 3.50% |
Approx 3.35% to 3.60% |
|
Average Conventional |
Approx 4.00% |
Approx 4.10%+ |
• Core rate levels in Calgary and Toronto are largely in line with national offers, especially for the major items like 5-year fixed and variable mortgages.
• The borrowers in Calgary may benefit from local lender competition and lower price pressure, but Toronto’s larger market does not necessarily mean higher headline rates –just potentially higher overall borrowing costs due to larger mortgages.
• The best rate is determined by comparing actual quotes from multiple lenders.
Calgary v/s Vancouver Mortgage Rates
The local market conditions and lender strategies can influence the actual rates borrowers receive. Across Canada in early 2026, the lowest five-year fixed rates are around the high 3% range, with variable options slightly lower, reflecting overall market patterns.
The real estate market of Vancouver is larger and more competitive, with varied mortgage products from major banks and credit unions. The local rate offering can vary more widely but generally tracks national fixed and variable trends. Calgary, on the other hand, benefits from strong regional competition among lenders, often providing competitive rate offers close to national lows.
Mortgage Rate Comparison: Calgary v/s Vancouver
|
Rate Type |
Estimated Calgary (%) |
Estimated Vancouver (%)
|
|
5 – Year Fixed |
Approx 3.6% to 4.2% |
Approx 4.0% to 4.4% |
|
5 – Year Variable |
Approx 3.3% to 3.7% |
Approx 3.5% to 4.0% |
|
Average Conventional |
Approx 4% |
Approx 4.2% |
• Calgary shows slightly lower or more competitive advertised rates compared with Vancouver, especially when the property values are lower.
• Lender pricing and strong housing demand ensures modestly higher rates in Vancouver.
Calgary v/s Montreal Mortgage Rates
Mortgage rates across Calgary are influenced by national monetary policy, particularly decisions from the Bank of Canada, but the actual rates vary by region due to local lender competition and market dynamics.
Montreal mortgage rates generally track closely with the national average, including 5-year rates near Canada’s lowest levels. Some conventional mortgage rates offered in Montreal are slightly higher, typically ranging above basic insured offerings.
Mortgage Rate Comparison - Calgary v/s Montreal
|
Mortgage Type |
Calgary Estimate |
Montreal Estimate |
|
5- Year Fixed Insurance |
Approx 3.6% to Approx 3.8% |
Approx 3.6% to Approx 3.8% |
|
5 – Year Variable |
Approx 3.3% to Approx 3.7% |
Approx 3.3% to Approx 3.8% |
|
Conventional 5-Year |
Approx 4.0%+ |
Approx 4.2%+ |
The above rate comparison shows-
• Calgary and Montreal mortgage rates track closely with Canada’s national best rates in 2026.
• There is a thin line of difference in rates, and this reflects lender competition, local risk assessment and loan type rather than broad regional gaps.
Mortgage Brokers- Help you get the best rates
When seeking affordable mortgage rates in Calgary, Vancouver or Montreal; work with the professional mortgage specialists.
• Mortgage brokers help you get the best rates by leveraging their access to multiple lenders and a deep understanding of the lending markets.
• The broker compares loan products from various financial institutions, including banks, non-banking lenders and specialized mortgage providers. This broader access increases your chances of securing a competitive interest rate and favourable loan terms aligned with your financial situation.
• The consultants also assess your income, credit profile, employment stability and borrowing capacity to match you with the lenders whose criteria align with your profile, improving your chances while optimizing pricing.
• The brokers stay updated on the current market trends, changing interest rate cycles and lender appetite, enabling them to identify limited-period offers or negotiate better terms on your behalf.
• They evaluate processing fees, prepayment charges, loan tenure flexibility and hidden costs to ensure overall loan structure benefits in the long run.
• They manage all the documentation process, coordinate with lenders and streamline the approval process, saving valuable time and reducing stress.
With experience and expertise, the professional mortgage brokers not only make your home loan journey hassle-free but also help you secure the most competitive mortgage rates aligned with your financial goals.
Calgary is one of the most balanced mortgage markets in Canada. While Toronto and Vancouver may offer competitive rates, Montreal is a stable alternative, and Calgary stands out for its affordability, growth potential and economic strength.
FAQs
1. Are mortgage rates in Calgary lower than in Toronto and Vancouver?
Calgary mortgage rates are slightly more competitive, but the real benefit comes from lower home prices, reducing total borrowing costs. Work with Manpriit Pabla to understand the best mortgage rates aligned with your financial situation.
2. Why do mortgage rates vary between Canadian cities?
Mortgage rates can vary due to local housing demand, lender competition, borrower risk profiles and regional economic conditions.
3. Is it easier to qualify for a mortgage in Calgary compared to other cities?
Yes, qualification can be easier in Calgary because lower property prices require smaller loan amounts and income thresholds. Manpriit Pabla, an experienced mortgage consultant, will simplify the mortgage process for home buyers.
About the Author
Manpriit Pabla is a dedicated mortgage professional committed to helping clients secure the right financing solutions.
With years of experience and in-depth knowledge of the Canadian Mortgage market and a client-focused approach, Manpriit specializes in helping first-time home buyers, refinancers and real estate investors in finding the best rates tailored to their financial goals.
With personalized advice and long-term financial planning, Manpriit Pabla builds lasting relationships based on trust and results.
