One of the most common questions we hear from prospective buyers is: “Should I buy now, or should I wait for interest rates to come down?”
It is an understandable question, but interest rates are only one part of the decision.
The Bank of Canada held its policy interest rate at 2.25 per cent on September 2, 2026. Its next scheduled interest-rate announcement is October 28. No one can say with certainty exactly where borrowing costs, home prices or buyer competition will move next.
Instead of trying to perfectly time the market, buyers should consider the complete picture.
MORE SELECTION CAN CREATE OPPORTUNITY
Calgary buyers currently have more choice than they did during the highly competitive market of recent years. August ended with 6,509 homes in inventory and nearly four months of supply overall.
Conditions vary by property type. Detached homes had just over three months of supply, while apartment-style condominiums had nearly six months.
More inventory can give buyers additional time to compare properties, review documents, arrange inspections and negotiate conditions. Depending on the listing, there may also be opportunities to negotiate the price, possession date or other terms.
Waiting for a slightly lower mortgage rate may not necessarily produce a better result if home prices, competition or personal circumstances change in the meantime.
FIXED AND VARIABLE RATES DO NOT MOVE THE SAME WAY
The Bank of Canada’s policy rate has a direct influence on lenders’ prime rates and variable-rate mortgages. Fixed mortgage rates, however, are influenced more heavily by the bond market and can move before or independently of a Bank of Canada announcement.
That is why buyers should speak with a qualified mortgage professional about the rates and products actually available to them instead of relying only on the latest interest-rate headline.
A refreshed pre-approval can help establish a comfortable monthly payment, protect against unexpected rate changes and allow a buyer to move confidently when the right property becomes available.
FOCUS ON THE MONTHLY COST—NOT ONLY THE RATE
The lowest possible interest rate does not automatically make a home affordable. Buyers should consider the full monthly cost of ownership, including:
• Mortgage principal and interest
• Property taxes
• Utilities and insurance
• Condo fees, when applicable
• Maintenance and future repairs
• Commuting and lifestyle costs
A home that is comfortably affordable today may be a better decision than stretching for a more expensive property simply because rates change slightly.
PERSONAL TIMING MATTERS TOO
Real estate is not only a financial investment—it is also where life happens.
A growing family, a job change, the need for more space, a desire to downsize or an upcoming move may be more important than trying to predict the next interest-rate announcement.
Buying can make sense when you have stable finances, expect to remain in the home for a reasonable period and find a property that meets both your needs and your budget.
Waiting may be appropriate when your employment, down payment or future plans remain uncertain.
MAKE THE DECISION USING REAL NUMBERS
There is no single answer that applies to every Calgary buyer. The right decision depends on your price range, preferred communities, property type, available financing and long-term plans.
Before deciding whether to buy now or wait, it helps to compare actual properties and calculate the monthly cost under several realistic scenarios.
Chris Richter and Jeff Pilon would be happy to sit down over coffee, review the current market and help you build a practical buying plan—with no pressure and no obligation.
Contact the Richter Pilon Real Estate Team at RE/MAX House of Real Estate to start the conversation.