Fee Increase Details: Alberta’s land-transfer fees rose from $2 to $5 per $5,000 in property value as of last Sunday. Mortgage registration fees also increased, from $1.50 to $5 per $5,000. The $50 flat registration fee remains unchanged.

Impact on Homebuyers: For a $450,000 home with a $405,000 mortgage, the total land-transfer fees rose from $401.50 to $955. Despite the hike, Alberta’s fees are still the lowest in Canada.

Purpose and Criticism: Revenue from the increased fees will go towards modernizing Land Titles and Registry Services. However, critics argue that homebuyers won’t directly benefit from these updates.