Rates Are Up. What’s Next for Calgary?
The Bank of Canada raised its policy rate to 2.50%. Here’s what I’d revisit in your financing, buying plans or selling strategy as Calgary heads toward winter.
Earlier this month, I looked at how Calgary’s fall market differed for detached homes, townhomes and apartments. This week brings a new development: borrowing costs are back in focus.
On October 28, the Bank of Canada increased its policy rate by 0.25 percentage points to 2.50%. If you’re considering a move before winter, this is a good time to give your plan a fresh look.
Buying? Start with the financing.
Before changing your search or making an offer, ask your mortgage broker to confirm your current approval, any rate hold and the monthly costs at the price you’re considering.
A policy-rate increase does not affect every mortgage in the same way. Ask how your specific mortgage or proposed financing is affected rather than assuming your payment or qualification has changed by the same amount.
My advice is to work from an updated budget. Once you know what you’re comfortable spending, we can compare the homes that fit and build an offer around the property and your priorities.
What do this week’s Calgary numbers tell us?
The Real Estate District’s October 29 brokerage update, covering October 21–27, reported these changes from the previous week:
- Showings fell approximately 4%.
- Sales fell approximately 15%.
- New listings also fell approximately 15%.
Those are weekly changes, not October’s monthly totals. Sales and incoming supply slowed at the same percentage rate, but that does not mean the number of new listings equalled the number of sales. It also does not establish balanced conditions or predict where prices will go.
For your decision, I’d use this snapshot alongside the homes available today and the recent sales relevant to your search or listing.
Selling? Review the response, then choose the next step.
If you’re already listed, look at what has happened since launch. Are buyers booking showings? What concerns keep coming up? Have competing properties reduced their prices or sold?
A quieter week or a rate announcement alone is not a reason to make an automatic price change. The useful question is whether your home still offers a convincing option against what buyers can choose now.
If you’re deciding whether to list before winter or wait, we can compare those options using your timing, carrying costs and current competition.
Sources: Bank of Canada, October 28, 2026 policy-rate announcement; The Real Estate District, District Dispatch, October 29, 2026, reporting weekly activity for October 21–27. Analysis prepared October 29, 2026.