Category: Uncategorized
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4 Alberta Cities With Homes Under $450K
Alberta's average residential price in July is $493,549, with detached homes averaging $579,856 across the province. Grande Prairie's average home price is $350,687, with detached homes at $388,153, up 9.9% from last year.
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Edmonton’s Housing Costs Eased in Q2: Still a Challenge!
Edmonton's housing affordability deteriorated in Q2 2024, with MPPI reaching 32.6% of income. Condo mortgage payments in Edmonton consume 19.2% of income, while non-condo payments take 34.2%.
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Edmonton retail rental rates hold amid national rise, survey finds
Edmonton's retail rental rates have remained stable in several categories, contrasting with a national increase driven by low supply and high construction costs. A recent CBRE survey indicates that while rents rose in cities like Ottawa and Toronto, Edmonton's market showed minimal changes, with only slight increases in community-unenclosed, neighbourhood, and convenience/strip categories. The city's…
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Rent or Own? The Path to Owning Your Home
Weigh Flexibility vs. Investment: Renting offers flexibility, while buying builds equity and offers tax benefits. Consider Long-Term Stability: Buying is better if you plan to stay in one place for many years.
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12 tips to help with your upcoming mortgage renewal
Renewing your mortgage can be stress-free and money-saving. Tips include starting early, exploring different lenders, understanding your current mortgage, researching rates, considering future financial goals, and negotiating for the best deal. Knowing fixed vs. variable rates, stress test requirements, and prepayment options are crucial. Short-term options, lump sum payments, and professional guidance can also enhance…
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Summer Real Estate Market Tips
Real Estate activity is up, ↑ 28.4% increase in inventory, creating more opportunities for buyers and sellers.Despite more listings, sales are slower.
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Evidence Backs Lower Borrowing Costs
Bank of Canada officials are considering gradual interest rate cuts. Policy rate was reduced to 4.75% in Late-Q2 based on underlying inflation.
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Millennials Lead Canadian Home Buyers
The avg age of a first-time home buyer in Canada is 36 yr. Baby boomers often seek smaller homes in small towns or rural areas.
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Changes are coming to mortgage rules. Will they help you afford a new home?
New mortgage rules effective August 1 allow first-time homebuyers 30 years to pay off insured mortgages for newly built homes, but experts believe this change won't significantly impact the housing market. While it may lower monthly payments slightly, high interest rates and down payment challenges persist. The government aims to address the housing crisis with…
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Edmonton No Longer Leads in Fastest-Rising Rent
Edmonton's rent ↑ 20.9% yearly, now $1,330 for a one-bedroom. Edmonton ranks 21st out of 23 in Zumper's list of most expensive Canadian cities for renters.