Albertans are making big sacrifices to keep up with mortgage payments
Alberta residents are keeping up with their mortgage payments, but many are making significant sacrifices to do so.
A new report from True North Mortgage found that while 79 per cent of Albertans have never missed a mortgage payment, a growing number are feeling the pressure of rising costs.
According to the company’s 2026 Mortgage Sentiment Survey, 33 per cent of Alberta mortgage holders said they found it challenging to make their payments over the past year.
To stay on track, many are cutting back in other areas of their lives.
The survey found that 35 per cent of Albertans delayed or avoided vacations and travel, while another 35 per cent avoided home repairs or renovations. Meanwhile, 33 per cent said they delayed or avoided retirement savings or investments.
The findings come as Canada heads into a major mortgage renewal wave, with more than one million mortgages set to renew in 2026, likely at higher rates. Interest rate uncertainty is now a top concern for Albertans.
Azin Ghaffari/Shutterstock
- You might also like:
- Childhood home of a former prime minister for sale in Alberta for $830,000
- Why Alberta is attracting possible massive AI data centres
- 6 spots near Calgary we think are totally underrated
“Forty-three per cent of Albertan mortgage holders identified interest rate uncertainty as their top concern when renewing a mortgage,” the report states.
Other concerns included higher-than-expected monthly payments (13 per cent), choosing between fixed and variable mortgages (7 per cent), ongoing strain on household budgets (8 per cent), and changes in household income or financial priorities (8 per cent).
Despite the rising financial pressure, most Albertans say they are still managing, at least for now.
According to the report, 70 per cent of mortgage holders say their current mortgage rate is manageable. However, 21 per cent said payments could become difficult if their finances change, while 9 per cent said their rate is already challenging.
Affordability is shaping mortgage decisions, with the report noting “Most Albertans (78 per cent) identified affordability and financial planning as key factors when selecting or renewing a mortgage.”
For Albertans looking to qualify for a mortgage, 19 per cent said economic uncertainty affecting their financial stability is their biggest concern, followed by 17 per cent who said uncertainty around interest rates is their biggest concern, and 11 per cent said budget strain was a big concern.
Despite the uncertainty surrounding affordability, 59 per cent of Albertans said homeownership remains a stable investment, while 41 per cent said it does not.