Compare current fixed and variable mortgage rates, monthly payment estimates, and first-time buyer programs for Edmonton homebuyers.
Based on $$445,000 average home price at current Alberta rates.
| Down % | Down Amount | CMHC Fee | Mortgage | Monthly Fixed | Monthly Variable |
|---|---|---|---|---|---|
| 5% | $22,250 | $16,910 | $439,660 | $2,542/mo | $2,166/mo |
| 10% | $44,500 | $12,416 | $412,916 | $2,387/mo | $2,034/mo |
| 15% | $66,750 | $10,591 | $388,841 | $2,248/mo | $1,915/mo |
| 20%NO CMHC | $89,000 | $0 ✅ | $356,000 | $2,058/mo | $1,754/mo |
The average home price in Edmonton is approximately $445,000 as of 2026, representing a +5.8% change year-over-year.
Current 5-year fixed rates in Edmonton start around 4.89%, while variable rates start around 3.35%. Credit unions in Alberta often offer rates 0.25–0.50% below major banks.
To afford a $445,000 home in Edmonton with 10% down at 4.89%, you would need approximately $71,262/year gross income to meet the GDS ratio of 39%.
For a $445,000 home, the minimum down payment is 5% ($22,250). With 5% down, CMHC insurance of $16,910 is added to your mortgage.
With the Bank of Canada holding at 2.25%, variable rates (3.35%) are currently lower than 5-year fixed (4.89%). Variable saves money if rates stay flat or drop, but fixed gives payment certainty. Consult a mortgage broker for your specific situation.