Steady Rates and Subtle Shifts

What the latest Bank of Canada update means here in Edmonton

The Bank of Canada held its key interest rate at 5 percent again last week. No surprises here, but the tone has definitely shifted. In their own words, there are “further signs that underlying inflation is easing” which signals they are seeing progress, even if they are not ready to act just yet.

The Bank remains focused on persistent inflation pressures, particularly in areas like housing costs and service prices, which continue to keep the overall rate elevated. For now, the hold remains in place, but if positive trends continue, a cut could be on the horizon.

So what does that mean here at home?

In Edmonton, we have seen more homes coming to market over the past couple of months, while buyers continue to outpace supply, especially in the $350K to $600K range. Activity remains strong, though the pace has eased slightly compared to earlier this spring.

Well-staged, well-priced homes in established neighbourhoods like Riverbend, Glenora, and southwest Edmonton are still selling quickly. And the good ones? They are still drawing multiple offers.

For Buyers

Fixed mortgage rates are starting to ease a little, with lenders pricing in the possibility of a rate cut in the months ahead. That has opened a bit of a window with more listings, slightly less competition, and a chance to buy with a little more breathing room.

If you have been watching the market from the sidelines, now might be a good time to check in with your mortgage advisor and take a fresh look at your options. For buyers who are ready, this could be a great time to make a move before the pace picks up again.

For Sellers

There is real strength in the market, especially if your home is show-ready and priced with strategy. Inventory is still tight in many areas, and the best listings are standing out. If we do see a rate cut later this summer, it could bring even more buyers back into the mix.

So while the headlines are focused on a rate hold, what we are seeing on the ground in Edmonton is steady activity and growing confidence.

If you have been thinking about your next move, we would love to help you navigate it. Reach out anytime, we are always here.

Source: Bank of Canada Press Release, June 5, 2025

Janice