Is Now the Right Time to Buy? A Look at Canada's 2026 Housing Market

Shawn Dreger • March 17, 2026

A Deep Dive into the 2026 Canadian Real Estate Landscape

For many Canadians, the dream of homeownership has felt like a moving target. After years of market volatility, shifting interest rates, and economic uncertainty, you might be wondering: is 2026 finally the year to make a move?

It's the biggest financial question for many households, and the answer isn't a simple yes or no. It depends on your personal circumstances, financial readiness, and where you are in the country. Let's break down the key factors shaping Canada's 2026 housing market so you can decide if now is the right time for you.

The National Picture: A Market in Transition

After a period of correction, Canada's housing market is showing signs of a gradual recovery, but it's not the frenzied pace we saw during the pandemic. The Canadian Real Estate Association (CREA) forecasts a 5.1% increase in home sales in 2026, driven by pent-up demand from buyers who have been waiting on the sidelines.

However, the Canada Mortgage and Housing Corporation (CMHC) notes that sales will likely remain below historical averages, with the market facing headwinds from a slower economy, modest income growth, and elevated unemployment levels.

What to Expect in 2026

  • National Home Sales: Recovery is underway with a 5.1% increase expected, driven by pent-up demand. However, sales will still remain below historical highs as economic uncertainty continues to weigh on buyer confidence.
  • National Average Price: Prices are forecast to rise modestly by 2.8% to $698,881. This represents steady, sustainable growth rather than the sharp spikes we saw during the pandemic years.
  • New Construction: Housing starts are projected to decline as developers face high construction costs, weaker demand, and rising inventories of unsold units. Fewer new homes being built could put upward pressure on prices in the long term.
  • Mortgage Rates: Variable rates are holding steady while fixed rates remain uncertain. The current rate environment offers some stability, but affordability continues to be a key challenge for many buyers.

Interest Rates: The Elephant in the Room

Mortgage rates have been a major factor for homebuyers. The good news is that the Bank of Canada has held its policy interest rate at 2.25% in early 2026, providing some stability for variable-rate mortgages. However, fixed rates may still see some upward pressure.

Many homeowners who secured ultra-low rates during the pandemic are now facing renewals at higher rates, which is tightening household budgets. For new buyers, the current rate environment is a significant improvement from the highs of 2024, but affordability remains a key challenge.

Regional Deep Dive: Where Are the Opportunities?

Canada's housing market is not a monolith. The story is very different depending on where you live.

Ontario & British Columbia: The Rebound

These two provinces, which saw the most significant downturns, are now poised for the strongest rebounds. CREA projects sales to increase by over 8% in both Ontario and BC in 2026. This is largely driven by pent-up demand from buyers who have been waiting for prices to stabilize.

However, the CMHC warns that housing starts in Ontario are projected to fall to near two-decade lows, which could put upward pressure on prices in the long run.

The Prairies & Quebec: Steady and Affordable

Markets in Alberta, Saskatchewan, and Quebec have remained more stable and are expected to see continued growth, albeit at a more moderate pace. Alberta, in particular, stands out for its relative affordability, with prices well below the national average.

The First-Time Homebuyer Opportunity

If you're a first-time homebuyer, 2026 could present a unique window of opportunity. After years of being priced out, many are finding that the combination of lower prices and stabilized interest rates has brought homeownership back within reach.

Furthermore, the government has introduced several programs to help first-time buyers, including:

  • First-Time Home Buyers' GST/HST Rebate: A new rebate designed to help you recover some of the taxes paid on a new home.
  • Home Buyers' Plan (HBP): The withdrawal limit from your RRSP has been increased to $60,000, giving you more flexibility to fund your down payment.
  • First Home Savings Account (FHSA): A powerful savings tool that allows you to save for a down payment tax-free, helping you build your nest egg faster.

So, Is It Your Time to Buy?

While the market is showing positive signs, the decision to buy a home is deeply personal. Here are a few questions to ask yourself:

  • Is my income stable and secure? Job security is crucial when taking on a mortgage commitment that could last decades.
  • Have I saved a sufficient down payment? A larger down payment not only reduces your mortgage but can also help you avoid costly mortgage insurance.
  • Is my credit score in good shape? Your credit score directly impacts the mortgage rates you'll qualify for and could save you thousands over the life of your loan.
  • Am I prepared for the long-term costs of homeownership? Beyond the mortgage, you'll need to budget for property taxes, maintenance, insurance, and unexpected repairs.

Navigating the housing market can be complex, but you don't have to do it alone. A trusted mortgage professional can help you understand your options, get pre-approved, and determine if now is the right time for you to enter the market.

Ready to explore your options? Let's talk. I can help you make sense of the market and find a mortgage solution that fits your life and your goals.

Shawn Dreger
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Best Mortgage Options for Canadian Homebuyers

By Shawn Dreger • March 17, 2026
Thinking of Calling Your Bank for a Mortgage? Read This First. If you're buying a home or renewing your mortgage, your first instinct might be to call your bank. It's familiar. It's easy. But it might also cost you more than you realize—in money, flexibility, and long-term satisfaction. Before you sign anything, here are four things your bank won’t tell you—and four reasons why working with an independent mortgage professional is the smarter move. 1. Your Bank Offers Limited Mortgage Options Banks can only offer what they sell. So if your financial situation doesn’t fit neatly into their guidelines—or if you’re looking for competitive terms—you might be out of luck. Working with a mortgage broker? You get access to mortgage products from hundreds of lenders : major banks, credit unions, monoline lenders, alternative lenders, B lenders, and even private funds. That means more options, more flexibility, and a much better chance of finding a mortgage that fits you. 2. Bank Reps Are Salespeople—Not Mortgage Strategists Let’s be honest: most bank mortgage reps are trained to sell their employer’s products—not to analyze your financial goals or tailor a long-term mortgage plan. Their job is to generate revenue for the bank. Independent mortgage professionals are different. We’re not tied to one lender—we’re tied to you. Our job is to shop around, negotiate on your behalf, and recommend the mortgage that offers the best balance of rate, terms, and flexibility. And yes, we get paid by the lender—but only after we find you a mortgage that works for your situation. That creates a win-win-win: you get the best deal, we earn our fee, and the lender earns your business. 3. Banks Don’t Lead with Their Best Rate It’s true. Banks often reserve their best rates for those who ask for them—or threaten to walk. And guess what? Most people don’t. Over 50% of Canadians accept the first renewal offer they get by mail. No questions asked. That’s exactly what the banks count on. Mortgage professionals don’t play that game. We start by finding lenders offering competitive rates upfront, and we handle the negotiations for you. There’s no guesswork, no pressure, and no settling for less than you deserve. 4. Bank Mortgages Are Often More Restrictive Than You Think Not all mortgages are created equal. Some come with hidden traps—especially around penalties. Ever heard of a sky-high prepayment charge when someone breaks their mortgage early? That’s often due to something called an Interest Rate Differential (IRD) —and big banks are notorious for using the harshest IRD calculations. When we help you choose a mortgage, we don’t just focus on the interest rate. We look at the whole picture, including: Prepayment privileges Penalty calculations Portability Future flexibility That way, if your life changes, your mortgage won’t become a financial anchor. A Quick Recap What your bank typically offers: Only their own limited mortgage products Sales-focused representatives, not mortgage strategists Default rates that aren’t usually their best Restrictive contracts with high penalties What an independent mortgage professional delivers: Access to over 200 lenders and customized mortgage solutions Personalized advice and long-term financial strategy Competitive rates and terms upfront Transparent, flexible mortgage options designed around your needs Let’s Talk Before You Sign Your mortgage is likely the biggest financial commitment you’ll ever make. So why settle for a one-size-fits-all solution? If you're buying, refinancing, or renewing, I’d love to help you explore your options, explain the fine print, and find a mortgage that truly works for you. Let’s start with a conversation—no pressure, just good advice.

How to Raise Your Credit Score and Unlock Better Rates

By Shawn Dreger • March 3, 2026
Want a Better Credit Score? Here’s What Actually Works Your credit score plays a major role in your ability to qualify for a mortgage—and it directly affects the interest rates and products you’ll be offered. If your goal is to access the best mortgage options on the market, improving your credit is one of the smartest financial moves you can make. Here’s a breakdown of what truly matters—and what you can start doing today to build and maintain a strong credit profile. 1. Always Pay On Time Late payments are the fastest way to damage your credit score—and on-time payments are the most powerful way to boost it. When you borrow money, whether it’s a credit card, car loan, or mortgage, you agree to repay it on a schedule. If you stick to that agreement, lenders reward you with good credit. But if you fall behind, missed payments are reported to credit bureaus and your score takes a hit. A single missed payment over 30 days late can hurt your score. Missed payments beyond 120 days may go to collections—and collections stay on your report for up to six years . Quick tip: Lenders typically report missed payments only if they’re more than 30 days overdue. So if you miss a Friday payment and make it up on Monday, you're probably in the clear—but don't make it a habit. 2. Avoid Taking On Unnecessary Credit Once you have at least two active credit accounts (like a credit card and a car loan), it’s best to pause on applying for more—unless you truly need it. Every time a lender checks your credit, a “hard inquiry” appears on your report. Too many inquiries in a short time can bring your score down slightly. Better idea? If your current lender offers a credit limit increase , take it. Higher available credit (when used responsibly) actually improves your credit utilization ratio, which we’ll get into next. 3. Keep Credit Usage Low How much of your available credit you actually use—also known as credit utilization —is another major factor in your score. Here’s the sweet spot: Aim to use 15–25% of your limit if possible. Never exceed 60% , especially if you plan to apply for a mortgage soon. So, if your credit card limit is $5,000, try to keep your balance under $1,250—and pay it off in full each month. Maxing out your cards or carrying high balances (even if you make the minimum payment) can tank your score. 4. Monitor Your Credit Report About 1 in 5 credit reports contain errors. That’s not a small number—and even a minor mistake could cost you when it’s time to get approved for a mortgage. Check your report at least once a year (or sign up for a monitoring service). Look for: Incorrect balances Accounts you don’t recognize Missed payments you know were paid You can request reports directly from Equifax and TransUnion , Canada’s two national credit bureaus. If something looks off, dispute it right away. 5. Deal with Collections Fast If you spot an account in collections—don’t ignore it. Even small unpaid bills (a leftover phone bill, a missed utility payment) can drag down your score for years. Reach out to the creditor or collection agency and arrange payment as quickly as possible . Once settled, ask for written confirmation and ensure it’s updated on your credit report. 6. Use Your Credit—Don’t Just Hold It Credit cards won’t help your score if you’re not using them. Inactive cards may not report consistently to the credit bureaus—or worse, may be closed due to inactivity. Use your cards at least once every three months. Many people put routine expenses like groceries or gas on their cards and pay them off right away. It’s a simple way to show regular, responsible use. In Summary: Improving your credit score isn’t complicated, but it does take consistency: Pay everything on time Keep balances low Limit new credit applications Monitor your report and handle issues quickly Use your credit regularly Following these principles will steadily increase your creditworthiness—and bring you closer to qualifying for the best mortgage rates available. Ready to review your credit in more detail or start prepping for a mortgage? I’m here to help—reach out anytime!