January 1, 2025
As we move into 2025, the Calgary mortgage landscape is seeing notable changes that could impact both current homeowners and those looking to buy. With interest rates, market conditions, and new regulations all playing a role, it’s important for mortgage clients to stay informed. Here’s a look at some of the key trends and updates in the Calgary mortgage market for the new year.
Interest Rates: A New Year of Stabilization
After a period of rising interest rates, many experts are predicting a more stable outlook in 2025. The Bank of Canada has signaled a pause in rate hikes, offering some relief to homeowners with variable-rate mortgages. This stabilization means that homeowners who may have been concerned about rising monthly payments can breathe a little easier. For those looking to refinance or purchase, now could be a good time to lock in a competitive rate before any potential future increases.
Calgary’s Housing Market Remains Resilient
Calgary’s housing market continues to demonstrate resilience in 2025, despite some national economic uncertainty. While prices saw a slight cooling in 2024, demand for homes, especially in suburban areas, remains strong. Whether you're a first-time homebuyer or an investor, Calgary’s diverse housing options offer opportunities in various price ranges. With continued job growth and migration to the city, Calgary remains an attractive place for both new and seasoned buyers alike.
Mortgage Qualification Rules: What You Need to Know
For those looking to secure a mortgage in Calgary, staying up-to-date with the latest qualification rules is essential. The federal government has recently introduced measures to address affordability, including adjusting stress test guidelines for insured mortgages. While the stress test remains, there is some flexibility for homebuyers, especially first-time buyers. With stricter rules in place, it’s crucial for potential buyers to get pre-approved early to ensure they meet the qualifications for their desired mortgage.
Focus on Sustainable Homeownership
Sustainability is a growing trend in the Calgary mortgage market. As climate concerns continue to rise, more lenders are offering green mortgage products for energy-efficient homes. These mortgages can provide lower interest rates or other benefits for homes that meet certain energy-saving criteria. If you’re considering buying a home in Calgary, it’s worth exploring these options, as they can help lower long-term utility costs while contributing to a greener environment.
The Importance of Mortgage Pre-Approval in a Competitive Market
With the Calgary market remaining competitive, especially in certain neighborhoods, obtaining mortgage pre-approval is more important than ever. Pre-approval not only gives you a clearer idea of your budget, but it also positions you as a serious buyer when it comes time to make an offer. In 2025, securing your financing early will be a valuable strategy, especially in fast-moving markets where properties can sell quickly.
The Impact of Real Estate Investors in Calgary’s Mortgage Landscape
Real estate investors in Calgary are seeing continued interest in both residential and rental properties, driven by the city’s growing population and affordable pricing compared to other Canadian markets. This trend is leading to increased competition for investment properties and a growing demand for private mortgages as a way to secure funding quickly. If you’re an investor, it’s essential to stay informed about the latest mortgage products designed to cater to this market segment.
Conclusion: Stay Informed, Stay Prepared
The Calgary mortgage market in 2025 brings a mix of opportunities and challenges. Whether you're looking to buy your first home, refinance your current property, or invest in real estate, understanding the latest trends and mortgage products is key to making the best financial decisions. By staying informed and working with a trusted mortgage advisor, you can navigate the changing landscape and set yourself up for success in the year ahead.
For more updates and expert advice on Calgary mortgages, stay tuned to our news section, and don’t hesitate to contact us to discuss your unique mortgage needs.
Source: Absolute Mortgage Team