The monthly mortgage on an average Medicine Hat home (about $350,000) is roughly $1,556 at a ~4.5% rate with 20% down over 25 years.
The monthly mortgage payment on an average Medicine Hat home ($350,000) is about $1,556 at a ~4.5% rate, 20% down, 25-year amortization. At 5.5% it rises to about $1,719. Payments move with the Bank of Canada rate. Illustrative, not a quote.
Same Medicine Hat home, 20% down, 25-year amortization — only the rate changes:
| Rate | Monthly payment |
|---|---|
| 4.0% | $1,478 |
| 4.5% | $1,556 |
| 5.0% | $1,637 |
| 5.5% | $1,719 |
| 6.0% | $1,804 |
Variable-rate mortgages follow the prime rate, which tracks the Bank of Canada. Fixed rates follow bond yields. Watch the live rate and the next decision. A southern-Alberta city offering some of the lowest home prices in the province.
About $1,556 at ~4.5% with 20% down over 25 years (illustrative).
A bigger down payment, a longer amortization, or a lower rate all reduce the monthly payment. See how to lower your payment.