Why Mortgage Pre-Approvals Matter More Than Ever This Spring

The 2025 spring real estate season is building momentum across Abbotsford, Surrey, Langley, and surrounding BC communities. After a slow couple of years marked by high interest rates and market uncertainty, activity is rising again—driven by stabilizing fixed mortgage rates, increased inventory, and renewed buyer confidence.

In this competitive landscape, mortgage pre-approvals are not just helpful—they’re essential. Whether you’re a first-time buyer entering the market or a current homeowner looking to move, getting pre-approved can determine your ability to act quickly, negotiate effectively, and lock in a favourable mortgage rate.

Here’s why mortgage pre-approvals matter more than ever this spring—and how they can help you succeed in a fast-paced real estate environment.

The Market Is Waking Up in Abbotsford, Surrey, and Beyond

In early 2025, we’re already seeing signs of renewed energy in the BC housing market. Home sales in the Fraser Valley are trending up, according to the Fraser Valley Real Estate Board, with more listings hitting the market in March and April. Many buyers who held back during the peak-rate environment of 2023 are now returning, encouraged by slightly lower fixed rates and new federal incentives on the horizon.

At the same time, sellers are pricing more competitively and moving quickly to attract offers. This mix of buyer motivation and increased supply has led to a more balanced but fast-moving market in many parts of South Surrey, Clayton Heights, Central Abbotsford, and Langley Township.

In this climate, those who are prepared are at a clear advantage—and that starts with a solid mortgage pre-approval.

What Is a Mortgage Pre-Approval?

A mortgage pre-approval is a lender’s conditional commitment to lend you a specific amount based on your financial profile, including your income, credit score, debt levels, and employment status. It’s not a final approval, but it’s a powerful first step that allows you to:

• Understand your true homebuying budget
• Lock in a mortgage rate (typically for 90–120 days)
• Present yourself as a serious, qualified buyer

A pre-approval doesn’t cost you anything and won’t obligate you to a specific lender, but it does provide clarity, leverage, and protection as you begin your home search.