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Housing Market
Current Calgary
Average Home Price
Volume
Loans Processed this Month
Flexibility Index
Calgary's market is generally balanced: about 6,917 active listings and ~3.3 months of supply (sales-to-new-listings ~54%).
Market Share
Calgary
MARKET
INSIGHTS
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We aggregated everything for you in one place.
Rate Forecast
The 8-month outlook shows 5-year fixed rates around 3.85%, with potential dips before returning to stabilize near this level.
Rate Movement
Two Bank of Canada rate cuts totaling 0.50% are anticipated in the next 12 months, likely providing relief for borrowers and supporting lower fixed-rate mortgages.
Housing Market
In July 2025, Calgary's average sale price was $616,686, up about 1.7% from July 2024.
Forecasted Rate Cuts
Q3 2025
1 CUT
Projected
Q4 2025
1 CUT
Projected
Q1 2026
0 CUT
Projected
Q2 2026
0 CUT
Projected
Next BOC rate cut expected in Q3 2025, with a current market probability of over 70%. Only rate cuts with a likelihood of 70% or higher are displayed.
Fixed Rates
Easing bond yields are nudging fixed mortgage rates down.
Variable Rates
Prime discounts continue to widen, signaling relief for variable-rate borrowers.
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CalgaryMORTGAGE RATES
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Calgary’s Best 5-Year Fixed Mortgage Rates
If you want predictable monthly payments, a 5-year fixed-rate mortgage is the right choice. It's easily the most popular mortgage type in Calgary, especially if you're planning on settling into your home for the long haul. Whether it's a family house in Tuscany or a townhouse in Auburn Bay, locking in a fixed rate keeps your payments consistent, even if rates start changing.
We regularly research and compare dozens of lenders to find you Calgary's top 5-year fixed rates, helping you budget with confidence.
Calgary’s Best 3-Year Fixed Mortgage Rates
A 3-year fixed mortgage gives you stability without tying you down for too long. It's perfect if you're thinking of moving, planning renovations, or expect interest rates to drop soon.
If you're new to Calgary or still exploring neighbourhoods, this shorter term gives you peace of mind without a lengthy commitment. We think it strikes an outstanding balance between stability today and flexibility tomorrow.
Calgary’s Best Variable Mortgage Rates
Variable-rate mortgages can save you money but also involve some risk. Your interest rate moves with the lender's prime rate, so your payments could increase or decrease.
If adjusting your budget when rates fluctuate isn't a problem, or you believe interest rates might decrease soon, a variable-rate mortgage might be your best bet. We've seen plenty of Calgarians-especially flexible buyers, short-term homeowners, and investors choose variable rates to save money.
We keep a close eye on variable rates from multiple Calgary lenders, helping you easily decide if this type of mortgage aligns with your financial goals.
Who Offers Mortgages in Calgary?
If you're looking into getting a mortgage in Calgary, you've got plenty of options. But not every lender fits every buyer, so understanding your choices can make things much more straightforward. Let's break down the main types of mortgage providers in the city.
Canada's Big Banks
- Royal Bank of Canada (RBC)
- Toronto-Dominion Bank (TD)
- Bank of Montreal (BMO)
- Canadian Imperial Bank of Commerce (CIBC)
- Scotiabank
- National Bank of Canada
Local Credit Unions
- connectFirst Credit Union
- Servus Credit Union
- Vision Credit Union
- 1st Choice Savings and Credit Union
- Bow Valley Credit Union
- Calgary Police Credit Union
- TransCanada Credit Union
Mortgage Brokers in Calgary
- True North Mortgage
- Mortgage Connection
- Quantus Mortgage Solutions
- Axiom Mortgage Solutions
- DreamHouse Mortgage
- Canadian Mortgage Professionals Inc.
- Mortgages For Less
- EveryRate.ca
Alternative and Private Lenders
Alternative lenders can be helpful if you're self-employed, new to Canada, or dealing with some credit challenges. They often have more flexible approval criteria. But keep in mind, their rates tend to be higher. Make sure you understand the terms clearly and consider the longer-term cost of these options.
How to Choose the Right Lender
- Check your financial health first-know your credit score, debts, and stable income.
- Think about what kind of mortgage suits your plans, whether fixed, variable, short-term, or long-term.
- Use comparison tools like EveryRate.ca to see rates from multiple lenders quickly.
- Consider chatting with a mortgage broker for professional, unbiased advice.
- Review your mortgage contract thoroughly, looking out for any hidden fees or penalties.
Calgary Housing Trends: What You Need to Know
Calgary Housing Market in 2024: A Quick Recap
In 2024, Calgary's market remained tight with steady price gains. The average home price rose from about $571,600 in 2023 to $592,500 in 2024 (a 3.7% gain). At its peak in March, the benchmark price hit $597,600, roughly 10-11% higher than a year earlier. Listings did climb (new listings jumped year-over-year), but supply was still constrained, especially under the $600,000 mark and for entry-level condos. Higher-priced homes took longer to sell, so inventory built up at the top end. By late 2024, new construction and listings began to relieve some pressure. In particular, purpose-built rental completions pushed Calgary's vacancy rate up sharply from about 1.4% in 2023 to 4.6% in 2024, giving renters more options and easing upward pressure on rents.
Calgary Housing Outlook for 2025
Mid-2025 data indicate the market is shifting toward balance. The average home price has cooled relative to last year; for example, the average MLS sales price in July 2025 was about $616,700, roughly 1.7% higher than July 2024 (the benchmark price is about $582,900 in July, ~4% below last year's peak). Sales activity is still solid but slightly below early 2025 forecasts: CREB originally projected over 26,000 sales for 2025 but has revised that down to around 23,000 units.
New supply is coming online rapidly, especially multi-family projects and new home starts. CREB notes housing starts remain near record highs, with much of the new inventory in apartments and condos. This influx is easing market tightness-sales are slowing and inventory is rising, which is cooling prices. CREB now expects only modest price growth or even slight declines, depending on property type. In general, the market is more balanced: detached homes (especially under ~$750K) still sell briskly, but condos and townhomes have more inventory. The City of Calgary forecasts rental vacancy nearing 6% by 2025 as more purpose-built units come online, improving affordability for renters.
Neighbourhood Spotlight (Summer 2025)
- Downtown Core (Beltline): Condo apartments roughly $350K-$400K.
- Auburn Bay (SE): Townhouses around $470K-$500K (newer family townhome community).
- Tuscany (NW): Semi-detached homes near $650K-$700K.
- Evanston (NW): Detached homes around $800K.
- Aspen Woods (SW): Larger detached homes typically start around $1.1-$1.2M.
How Much Down Payment Do You Need in Calgary?
- Homes up to $500,000: 5% minimum down.
- Homes $500,000-$999,999: 5% on the first $500K, and 10% on the portion above $500K.
- Homes $1,000,000 or more: 20% minimum down.
| Neighbourhood | Typical Property | Avg. Price | Min. Down Payment | Notes |
|---|---|---|---|---|
| Downtown Core (Inner-city) | Condos | $367,000 | $18,350 (5%) | Entry-level urban condos. |
| Northwest Calgary | Detached/Semi | $650,000 | $40,000 | Family homes in NW communities. |
| West Calgary | Detached | $1,200,000 | $240,000 (20%) | Affluent area, larger homes. |
What Do Monthly Mortgage Payments Look Like in Calgary?
| Neighbourhood / Home Type | Avg. Price | Down Payment | Mortgage Amount | Est. Monthly Payment (P&I) |
|---|---|---|---|---|
| Beltline (downtown) Condo | $367,442 | $18,372 (5%) | $355,070* | ~$1,850 |
| Auburn Bay Townhouse | $486,708 | $24,335 (5%) | $462,373* | ~$2,440 |
Property Taxes in Calgary (2025)
Calgary's residential property tax rate in 2025 is 0.61803% of the assessed value. That total breaks down into a 0.38706% municipal rate and a 0.23097% provincial rate.