Why Now Is the Best Time to Lock in Your Mortgage Rate in Canada

by Shane Meahan

The Good News for Calgary Home Buyers

If you’ve been on the fence about buying a home in Calgary or across Alberta, here’s a reason to feel optimistic: mortgage rates are moving in your favor.

The Bank of Canada recently cut its policy rate to 2.50 %, and economists are predicting another drop to 2.25 % later this year. Lower rates mean greater affordability, more purchasing power, and peace of mind for buyers ready to make a move.

But here’s the key: while rates are dropping now, they won’t stay low forever. Locking in a mortgage rate today could be the smartest financial move you make.

Why Acting Now Makes Sense

1. Extend Your Purchasing Power

Every rate cut increases your buying power — allowing you to qualify for a larger mortgage or enjoy lower monthly payments.

2. Avoid Payment Shock

With many Canadians facing mortgage renewals in 2025–2026, those without a plan may see significant payment increases. A rate hold helps shield you from this risk.

3. Rates Won’t Always Keep Falling

Even though rates are trending downward, global markets and inflation could cause them to level off or climb again. Acting now secures your position.

4. Rate Holds Give You Flexibility

A rate hold means you get today’s rate while still having time to shop for your perfect home — no rushing, no pressure.

Gain Peace of Mind With a Rate Hold

Imagine finding your dream Calgary home 60 days from now, only to discover rates have jumped. Without a rate hold, you’d be forced to pay more. With one, your payment stays exactly where you locked it — stress-free.

Why Work With Us?

At The Shane Meahan Realty Team, we understand the local market, the lender options, and the timing dynamics in Alberta. Our preferred partner lenders are offering a FREE mortgage approval paired with a rate hold (up to 12 months!), giving you both certainty and flexibility.

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