TODAY'S
MORTGAGE RATES 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 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.

• 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.

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.