From the Desk of Renée Huse - July 2025
As we all head into summer to soak up what is likely some overdue time off—to reset and spend time with our families—I wanted to leave you with something more than just a rate update or headline recap. What follows might sound a little heavier than usual, but it’s rooted in experience, not fear or panic.
I’ve been investing in Alberta real estate since 2003 and working in the mortgage space since 2017. I’ve owned real estate through bull markets, bear markets, full-blown recessions, a pandemic, and a housing crisis. I’ve seen what happens when people rush… and when they pause, plan, and protect themselves.
And here’s what I’ll tell you:
I’ve never regretted buying real estate—even when I’ve owned homes that were worth less than I paid for them.
Why? Because I bought them deliberately. With support. With structure. And with a long-game mindset.
As we roll into the second half of 2025, I believe—more than ever—that real estate is still one of the smartest ways to build wealth, as long as you do it with eyes wide open and the right people in your corner.
Spire Team Update – and Unintended Learnings...
Here are some boots-on-the-ground thoughts from deals that have come across my desk over the past few months.
We’ve just added two full-time underwriters and a new fulfillment specialist to our team at Spire. Q1 2025 was our record funding quarter, and as I write this, I can tell you that our Q2 numbers were even higher. The number of clients who need sound financial advice and multiple lender options continues to grow exponentially, and we're grateful they’re calling us.
The hiring process was intense and gave me valuable real-time insight into the Canadian economy that I wanted to share.
Over 300 people applied for those three roles. While many were outstanding candidates, one thing stood out: a surprising number had been laid off in the last six months—quietly.
I was surprised by how many companies are discreetly tightening, streamlining, and restructuring to become more efficient and profitable. It’s not all bad, but it’s a signal of which I’m now more acutely aware. Efficiency and prudent fiscal planning are becoming the new currency.
Homebuyers, especially those purchasing new builds with possession dates 12–18 months away, need to take this seriously and be cautious about employment stability.
Buying Before You Sell? Let’s Talk First.
Over the past few years in Alberta, the fear was “What if I can’t find a home?”—so people bought first and listed later. It worked when homes were flying off the shelf.
But here’s the current reality:
Homes are taking longer to sell—and that’s normal.
A 3-day sale was the exception. A 3-month listing is much more realistic.
If you’re planning to buy before you sell, proceed with caution. We’ve had to jump in with emergency refinances in the last few months because clients’ homes didn’t sell as expected.
Plan B needs to be in place before you commit to Plan A.
Loop your mortgage broker in early. We’ll run the numbers, prepare contingencies, and ensure your plan holds up—even if your home takes longer to sell.
(Also, cut your Realtor some slack if they’re coaching you on timelines. They’re in it. Ask the questions. Take the advice.)
Realtors with experience or strong mentorship will be key in this market. Make sure you’re well-connected.
Appraisals Are Getting Tricky — Here’s What That Means
For the past two years, we hardly gave appraisals a second thought. Values almost always supported the purchase price.
But recently, we’ve seen a growing number of appraisals come in below the offer price.
Appraisals are based on recent sales—not what a home “should” be worth. If you built in a newer area and a few families had to sell fast (due to job loss, divorce, etc.), those sales impact the data.
We haven’t seen anything we couldn’t navigate, but here’s your warning:
Appraisals need to be actively managed for both new builds and resale homes. If you don’t have extra cash set aside, waiving financing conditions before your appraisal is in hand is becoming increasingly risky.
Coming Up for Renewal? Consider This:
If your mortgage is renewing soon, it’s a good time to open up access to the equity you’ve built—even if you don’t need it yet.
I’m talking about a secured line of credit. Minimal cost to open, no obligation to use it—just peace of mind if the economy turns or you need flexibility down the road. Think of it like a fire escape. You hope you never need it, but if you do, you’ll be glad it’s there.
Thinking About Investing? Run Real Numbers.
If you’re looking at rental properties, I’m with you—I think smart opportunities will start popping up soon. I’m personally positioning myself to have capital ready when the time comes.
But I’ll be blunt:
Some professionals are inflating rental estimates to make deals pencil out. That’s risky.
Sound investment decisions hold up with conservative rental numbers—not best-case-scenario math. If you're already maxed out from the start, one vacancy or repair bill can bring the whole thing crashing down.
A Word of Caution: Not Everyone Plays Fair When the Market Slows
In slower markets, some professionals cut corners or push bad advice to make a sale. We’ve seen too much of it in the last month:
Too-good-to-be-true rate promises with a last-minute switch
A push for clients to take mortgage products that don’t fit their situation
Missed details due to panic and unnecessarily rushed timelines
Work with people who operate from abundance, not scarcity. Ask questions. Trust your gut if something feels off.
My Honest Take on Mortgage Protection Insurance
I’ve never been a big fan of insurance—unless it was tied to a tax strategy. I’m kind of a “live on the wild side” type. (If you know me personally, this won’t surprise you.)
But after placing nearly 2,000 clients into mortgages, I’ve had a change of heart.
I used to think insurance was all about death benefits. But I’ve actually never had a client with Mortgage Protection Insurance pass away and make a claim.
What I have seen is this:
Disability claims have saved some of my clients over the past few years. Over 30% of those claims are for mental health or stress leave. The Mortgage Protection Plan Insurance pays your mortgage and property taxes for up to two years if you can’t work—even if you’re self-employed.
The world has changed. So has my perspective.
It’s worth a conversation.
If you’ve made it this far—thank you. I know this wasn’t your typical “rates and headlines” email, but real-life finances aren’t just about interest rates. They’re about what happens when life throws you a curveball or when the market shifts underneath your feet.
Whether you're renewing, refinancing, buying your next home, or thinking about investing, the same rules apply: move deliberately, build a buffer, and work with people who won’t sugarcoat things just to get a deal done.
That’s what we do here at Spire. No fluff. No pressure. Just honest advice that holds up in real life—and a team that’s in your corner for the long game.
If you have questions or want to talk about your next steps, please reach out. We’re here.
Even while I personally take a little breather in August, the team is running full tilt and ready to help.
Enjoy your summer. And if you’re making moves—make them wisely.
