Should You Lock in Your Mortgage Rate This Summer? What Edmonton Buyers Need to Know

Edmonton Market Update Vaughn Leroux 11 Jun

Summer 2025: A Season of Market Uncertainty

With the Bank of Canada recently holding its overnight rate at 2.75%, many homebuyers are left wondering what comes next. This move reflects ongoing economic caution due to inflation concerns and global instability. While the policy rate didn’t change, its implications on fixed and variable mortgage rates are significant.
According to recent lender reports, the average 5-year fixed mortgage rate is currently hovering around 4.56%, while the 5-year variable rate sits closer to 4.30%. These fluctuations can make planning difficult for those navigating the home-buying process in Edmonton.

“In today’s volatile lending environment, timing is critical,” says Vaughn Leroux, Owner/Broker of Dominion Lending Centres Lender Direct. “Locking in your rate could help protect you from potential increases, but it’s not always the right move for everyone. That’s where tailored advice becomes crucial.”

What Does It Mean to Lock in a Mortgage Rate?

When you lock in a mortgage rate, you secure the current rate for a set period—typically 30 to 120 days—regardless of what happens in the market. This can be a powerful tool for buyers in Edmonton, especially during times of economic fluctuation.
Locking in a rate can:
  • Offer peace of mind during your home search
  • Protect you from sudden rate hikes
  • Allow you to plan your finances more accurately
However, it’s not a one-size-fits-all solution. Factors such as loan amount, timeline, and future rate predictions should all influence the decision.

Why This Summer May Be the Right Time to Lock In

While mortgage rates remain historically low, they are no longer at the record-breaking levels seen in previous years. Edmonton’s housing market remains active, with average home prices climbing over 7% in the past year. This makes locking in a rate particularly attractive for buyers looking to secure financing before further increases.
According to Leroux, “We’re seeing a lot of clients in Edmonton looking to buy or refinance before the next Bank of Canada announcement. A mortgage rate hold gives them time to finalize their deal while locking in today’s rates.”

Trust 21+ Years of Local Expertise

Vaughn Leroux has helped thousands of clients across Edmonton navigate the complexities of mortgage financing. As the Owner/Broker of Dominion Lending Centres Lender Direct, he offers personalized service backed by over two decades of local industry knowledge.
Unlike dealing with a traditional bank, working with an experienced mortgage broker in Edmonton gives you access to multiple lenders, rate options, and tailored advice that fits your financial goals.

Let’s Talk About Your Mortgage Strategy

Not sure whether you should lock in your mortgage rate? Let Vaughn Leroux help you make the right call. With deep ties to Edmonton’s real estate market and access to a wide network of lenders, Vaughn is your go-to mortgage broker for honest advice and smart solutions.
👉 Contact Vaughn directly
👉 View our Google Business Profile

Contact Information

  • Business Name: Dominion Lending Centres Lender Direct
  • Contact Person: Vaughn Leroux, Owner/Broker
  • Email: vleroux@dominionlending.ca
  • Phone: +1 780 970 4442

Navigating the Spring Housing Market: Tips for First-Time Homebuyers

General Vaughn Leroux 15 May

Navigating the Spring Housing Market: Tips for First-Time Homebuyers

As the temperatures rise, so does the competition in the Edmonton housing market—especially for first-time buyers. Spring marks the busiest time of year for real estate activity, and for many newcomers, entering the market can feel overwhelming. But with the right support and strategies, buying your first home doesn’t have to be stressful.
Whether you’re dreaming of a cozy bungalow or a downtown condo, working with an experienced mortgage broker in Edmonton, AB can make all the difference.

Why Spring Is a Hot Time to Buy

Spring is typically when inventory rises, giving buyers more options. But more listings also bring more competition, and homes can sell quickly—sometimes within days. Pair that with fluctuating interest rates and new mortgage stress test rules, and the need for expert guidance becomes clear.
This is where a trusted mortgage lender or broker comes in.

Top Tips for First-Time Homebuyers in Edmonton

Buying your first home is one of life’s biggest financial decisions. Here are some key steps to help you feel confident and prepared this spring:

1. Get Pre-Approved Early

A pre-approval gives you a clear understanding of what you can afford and shows sellers you’re a serious buyer. It also locks in a rate for a set period, which can be a huge advantage in a rising rate environment.
Bonus tip: Pre-approval helps you move faster when the right home comes along.

2. Work with a Mortgage Broker, Not Just a Bank

Unlike banks that only offer their own mortgage products, a mortgage broker shops around multiple lenders to find the best rate and terms for your situation. This can save you thousands over the life of your loan.
Looking for trusted advice? Dominion Lending Centres Lender Direct Vaughn Leroux offers access to a wide network of lenders and personalized support tailored to first-time buyers.

3. Budget Beyond the Purchase Price

Many new buyers forget to account for closing costs, property taxes, legal fees, and insurance. A good rule of thumb is to budget an additional 1.5–4% of the purchase price to cover these expenses.

4. Know What You Want—But Stay Flexible

Create a list of must-haves vs. nice-to-haves. In Edmonton’s spring market, being too picky could mean missing out. Focus on essentials like location, layout, and long-term value.

5. Understand Your Mortgage Options

Fixed rate or variable? Open or closed? The right choice depends on your financial goals and risk tolerance. A mortgage broker will walk you through your options and explain how current market trends impact each one.
As Edmonton’s housing market heats up this spring, first-time buyers face the challenge of securing the right mortgage. Inspired by DLC Corporate’s “Don’t Just Roll Over” campaign, which encourages homeowners to seek better options during renewals, Vaughn Leroux, a leading Edmonton mortgage broker, advises buyers to adopt a similar approach. “Don’t just take the first mortgage offer you get,” says Vaughn Leroux. “Shop around, compare rates, and ensure you’re getting the best deal for your new home.“

Local Edmonton Market Insights

The Edmonton housing market has remained relatively balanced, but spring often sees a surge in activity around popular communities like Terwillegar, Windermere, and Summerside. First-time buyers may face bidding wars, particularly for entry-level detached homes and townhouses.
That’s why it’s crucial to work with a mortgage professional who understands Edmonton-specific trends and can help you act quickly and strategically.

Ready to Make Your Move?

Whether you’re just starting to explore your options or are ready to get pre-approved, the team at Dominion Lending Centres Lender Direct is here to help. As a trusted mortgage broker in Edmonton, AB, they’ll guide you every step of the way.
👉Schedule a free consultation today and get expert advice tailored to your unique needs.

 

📍 Local, knowledgeable, and committed to your success. Visitdominionlendingmortgages.com or check out their Google Business Profile to learn more.

Spring Mortgage Tips from Your Edmonton Mortgage Broker

Mortgage Tips Vaughn Leroux 30 Mar

Edmonton, AB – Spring is on its way to Edmonton, and with it comes a fresh opportunity to explore homeownership. I’m Vaughn Leroux, your local mortgage broker and owner at Dominion Lending Centres – Lender Direct, and I’m excited to share some practical tips to help you prepare for the season. Whether you’re dreaming of your first home or thinking about refinancing, spring is a great time to get started in Edmonton’s vibrant market.

Why Spring Stands Out in Edmonton

Spring often brings a shift to Edmonton’s housing scene, as the warmer weather inspires people to take action. As a mortgage broker/owner in Edmonton, AB, I’ve noticed how this season motivates buyers to explore their options. It’s a chance to get ahead, whether you’re looking at a cozy condo downtown or a family home in the suburbs. Planning now can make all the difference when you’re ready to make an offer.

Key Tips to Get Mortgage-Ready

Navigating the mortgage process doesn’t have to feel overwhelming. Here are some tips to consider as you prepare:
  • Start with Pre-Approval: Knowing what you can afford is a solid first move. Pre-approval helps you set a realistic budget and shows sellers you mean business. I can guide you through this at Dominion Lending Centres – Lender Direct.
  • Explore Loan Choices: Fixed-rate mortgages keep your payments steady, while variable-rate ones might shift over time. Not sure which suits you? I’ll explain the options so you can decide what fits your Edmonton lifestyle.
  • Ask Away: Questions about paperwork or terms? That’s what I’m here for. My goal is to make everything clear and tailored to your needs.
  • Tap Into Local Knowledge: Edmonton’s market has its own rhythm, and I know it well. With Dominion Lending Centres, I connect you to a wide network of lenders to find solutions that work.

How I Can Support You

At Dominion Lending Centres – Lender Direct, I focus on personalized service. I’ve been helping Edmontonians navigate mortgages for over 20 years, and I love seeing clients find the right fit. Check out what people are saying on our Google Business Profile—their feedback means a lot. Whether it’s your first home or a refinance, I’m here from start to finish.

Take the Next Step This Spring

Spring is your moment to make homebuying a reality in Edmonton. Give me a call at (780) 970-4442 or visit https://dominionlendingmortgages.com/ to learn more about how I can help. Want to connect online? Head to our Google Business Profile to get in touch or read reviews. Let’s make this spring the season you find your perfect home in Edmonton, AB!

The Power of Mortgage Pre-Approval

General Vaughn Leroux 9 Oct

https://vaughnleroux-dlcld.com/news-%26-views/f/the-power-of-mortgage-pre-approval?fbclid=IwAR19lsuIzqnnc9qyCWN9X-6_MIUunhRKXxxCWaPrnQ0pSH1Mbu38G1FYGhI

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