Alberta variable mortgage rates and each lender's own prime
The lowest insured variable rate from lenders that lend in Alberta was 3.66% (nesto). A variable rate is the lender's own prime plus or minus a spread, and primes differ: most lenders stated 4.70%, Bow Valley 4.45%. The Bank of Canada raised its policy rate to 2.50% on Oct 28, 2026.
Figures as of Nov 2, 2026.Variable rates by lender and prime
Every variable rate a lender that lends in Alberta published, its own prime and the spread, and what a move in prime does to an adjustable payment.
- After a prime move
- $2,036.98
- pick a move
- Lenders' prime
- 4.45% / 4.70% / 4.85%
- as stated on their pages
- Variable rates
- 10
- lenders that lend in Alberta
Estimate, not advice. Educational estimate only, not financial, mortgage, tax or legal advice. Lenders, insurers and governments set their own rules and can change them; confirm with a licensed professional before you decide.
Lowest variable: nesto 3.66%; payment $2,036.98.
| Lender | Rate | Its prime | Spread | Monthly |
|---|---|---|---|---|
| nesto (Alberta)5-year · insured | 3.66% | 4.70% | −1.04 | $2,036.98 |
| Lakeland Credit Union (Alberta)5-year · insured | 3.80% | 4.70% | −0.90 | $2,067.43 |
| ATB Financial (Alberta)5-year · insured | 3.90% | 4.70% | −0.80* | $2,089.32 |
| RBC Royal Bank5-year · insured | 4.10% | 4.70% | −0.60 | $2,133.50 |
| Tangerine5-year · not split by down payment | 4.20% | 4.70% | −0.50* | $2,155.77 |
| BMO5-year · not split by down payment | 4.35% | 4.70% | −0.35* | $2,189.41 |
| National Bank5-year · not split by down payment | 4.35% | 4.70% | −0.35 | $2,189.41 |
| CIBC3-year · not split by down payment | 4.40% | 4.70% | −0.30* | $2,200.69 |
| Simplii Financial5-year · not split by down payment | 4.45% | 4.70% | −0.25* | $2,211.99 |
| TD5-year · not split by down payment | 4.54% | 4.85% | −0.31 | $2,232.42 |
* Spread worked out as the published rate minus the lender's own prime; the lender's page doesn't state it.
| Prime move ↓ / Lender rate → | nesto 3.66% | Lakeland 3.80% | ATB 3.90% | RBC Royal Bank 4.10% | Tangerine 4.20% |
|---|---|---|---|---|---|
| −0.50 | $1,930.30 | $1,959.85 | $1,981.11 | $2,024.01 | $2,045.66 |
| −0.25 | $1,983.24 | $2,013.24 | $2,034.82 | $2,078.36 | $2,100.32 |
| today | $2,036.98 | $2,067.43 | $2,089.32 | $2,133.50 | $2,155.77 |
| +0.25 | $2,091.52 | $2,122.41 | $2,144.62 | $2,189.41 | $2,211.99 |
| +0.50 | $2,146.85 | $2,178.17 | $2,200.69 | $2,246.09 | $2,268.98 |
| +0.75 | $2,202.95 | $2,234.70 | $2,257.52 | $2,303.54 | $2,326.72 |
| +1.00 | $2,259.81 | $2,291.99 | $2,315.11 | $2,361.72 | $2,385.21 |
What is driving this result
- nesto's 3.66% is the lowest variable rate we collected for under 20% down: its prime of 4.70% minus 1.04.
- Each lender sets its own prime. 14 lenders state 4.70%; Bow Valley Credit Union states 4.45%; TD states 4.85%. A prime-minus discount is only as good as the prime it's taken from.
- Each 0.25-point move in prime changes the payment on $400,000 by about $54.54 a month at nesto's rate.
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Assumptions & sources
Assumptions
- Variable rates as published (or the lender's prime plus its stated spread where the page shows only “prime − x”).
- Spread: stated by the lender where shown; otherwise the published rate minus the lender's own prime.
- Payments assume an adjustable-payment variable (the payment changes with prime), monthly compounding. On a fixed-payment variable the payment stays the same and the split between interest and principal changes instead.
- A prime move is illustrative; it isn't a forecast.
Sources
- Bank of Canada — Press release: policy rate raised to 2.5% (October 28, 2026) (effective October 28, 2026). Checked .
- Bank of Canada — Policy interest rate. Checked .
- Financial Consumer Agency of Canada — When interest rates rise. Checked .
- nesto — Mortgage rates page. Checked .
- Lakeland Credit Union — Mortgage rates page. Checked .
- ATB Financial — Mortgage rates page. Checked .
- RBC Royal Bank — Mortgage rates page. Checked .
- Tangerine — Mortgage rates page. Checked .
- BMO — Mortgage rates page. Checked .
- National Bank — Mortgage rates page. Checked .
- CIBC — Mortgage rates page. Checked .
- Simplii Financial — Mortgage rates page. Checked .
- TD — Mortgage rates page. Checked .
Worked example: variable vs fixed at the same lender
| Lowest variable (nesto) | 3.66%prime 4.70% − 1.04 |
|---|---|
| Lowest ATB / credit-union 5-year fixed | 4.34%ATB Financial |
| Monthly payment today | $2,036.98 vs $2,178.45 |
| Variable after a 0.50-point rise in prime | $2,146.85 |
| Prime rise that erases the gap | about 0.75 pointsrounded up to the next quarter point |
Open this example in the calculator →Computed Nov 2, 2026.
When could prime move next?
The Bank of Canada's next scheduled announcement is Dec 9, 2026. Lenders usually change prime the day after a change in the policy rate. Each lender decides its own prime, which is why Bow Valley's differs.
What this means for you
- Compare the spread and the prime: prime − 0.90 at one lender isn't the same as prime − 0.90 at another if their primes differ.
- Adjustable or fixed payment: on a fixed-payment variable, a rise doesn't change the payment but more goes to interest; RateChange.ca works out the trigger rate.
- Few Alberta-only lenders publish variables: ask Servus, Christian and Bow Valley branches directly.
Frequently asked questions
What is the lowest variable mortgage rate in Alberta?
The lowest insured variable rate we collected from lenders that lend in Alberta was 3.66% (nesto, 5-year) on Nov 2, 2026.
Is prime the same at every lender?
No. 14 lenders stated 4.70%; Bow Valley Credit Union stated 4.45% and TD 4.85%. A variable rate is the lender's own prime plus or minus its spread.
What happens to my variable payment if the Bank of Canada raises rates?
Lenders usually move prime by the same amount. On $400,000 over 25 years at 3.66%, each 0.25-point rise adds about $54.54 a month to an adjustable payment.
Which Alberta credit unions publish variable rates?
Of ATB and the credit unions on our board, nesto and Lakeland Credit Union and ATB Financial published a variable rate we could collect.
Primary sources
- Bank of Canada — Press release: policy rate raised to 2.5% (October 28, 2026) (effective October 28, 2026). Checked .
- Bank of Canada — 2026 schedule for policy interest rate announcements. Checked .
- Bank of Canada — Policy interest rate. Checked .
- Financial Consumer Agency of Canada — When interest rates rise. Checked .