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May Housing Report

  • May 3
  • 2 min read

The Bank of Canada May 2026 mortgage rate update


The Bank of Canada held rates steady in May but was clear that increases are possible later this year if inflation keeps rising. For Calgary buyers, this means the mortgage rates available right now may be better than what's coming, especially if oil prices continue to climb.


Calgary Home Prices Are Still Rising

Calgary remains one of the most in-demand cities in Canada. Thousands of people are relocating here every year, and supply isn't keeping up. Prices have risen steadily, and the entry-level homes and condos that first-time buyers can realistically afford are getting harder to find with every passing year.


Buy Something Affordable and Don't Delay

The buyers who get into the Calgary market aren't the ones who found the perfect home at the perfect time. They're the ones who bought something affordable, a condo, a townhouse, a home with a basement suite to help cover the mortgage and didn't wait.


Could You Be Priced Out by 2027?

Renting is easier and less stressful in the short term. But at this pace, rising interest rates and climbing prices could price first-time buyers out of the market entirely by 2027. If you're watching from the sidelines this May, here's the honest picture: rates are not coming down anytime soon according to the Bank of Canada May Housing Report, and waiting for the right moment is starting to cost more than just getting in. Contact us today to get started.


We have practical solutions for you and will help you make the best decsions for your future as a first-time home buyer. There are overlooked gems on the market, and we know where to look.


References:


up and coming areas in Calgary for first time home buyers


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