What’s Really Going On with Mortgages in Calgary?

by Shane Meahan

Hey Calgary friends,

You’ve probably heard talk of rising bills and people falling behind on their mortgage payments. Let’s break it down in everyday terms:

📉 How Bad Is It?

In Alberta, around 0.3% of mortgages are 90+ days past due. That’s roughly 1 in 300 homeowners struggling to keep up.
That rate is twice the national average, which means more folks in Alberta—especially Calgary—are feeling the pressure.

Why Calgary?

Our economy leans heavily on oil, gas, trades, and construction. When prices drop or jobs slow down, families often feel it fast—and mortgage payments are one of the first big stress points.

Who’s Affected?

It’s not just first-time buyers or low-income families. Many middle-aged homeowners are feeling the squeeze. Add in rising costs, high inflation, and renewal shocks on fixed-rate mortgages—and even folks with steady jobs are feeling nervous.

But Don’t Panic

Across Canada, more than 99% of mortgages are still in good standing.
Alberta’s delinquency rate may be higher than average, but it’s not out of control—and in some areas, things are actually improving slightly.

Still, it’s a good reminder to pay attention—especially if your mortgage is coming up for renewal or your budget is getting tight.

What You Can Do

Know your mortgage renewal date and start planning a few months ahead.
Look into refinance or restructuring options that could lower monthly payments.
If you’re feeling the pinch, talk to your lender early. You may have more options than you think.

If you'd like to have a friendly, no-pressure conversation about how to protect the equity in your home and keep yourself in a strong financial position, I’m happy to chat.
Text or call me at 587‑602‑0204—free, confidential, and completely judgment-free.