Best 5-Year Variable Mortgage Rates In Alberta

Alberta is Canada’s “energy province” and home to over 4 million people. Most of its population is concentrated in its two major urban centres, Calgary and Edmonton. It is known for its vibrant landscapes of towering mountains, glacial lakes, rolling foothills, and vast forests.

It is one of the cheapest places to buy or own a home in the country, given its low tax rates and low mortgage closing costs. House prices in its metropolitan cities of Calgary and Edmonton are reasonably affordable compared to those in other metropolitan cities, like Vancouver and Toronto. The average home price in Calgary is $461K, and $341K in Edmonton compared to $1.2M in Toronto and Vancouver.

Thanks to its sustainable oil and gas and fast-growing industrial and service sectors, the province is an economic powerhouse in the country. According to the 2018 Canadian Family Income Survey, the median family income in Alberta is 16% higher than the Canadian average. The median family income in Alberta is $98,400.

Thanks to its vibrant economy, high living standard, and affordable house prices, Alberta is now one of the top destinations for young Canadians looking at getting into the housing market.