Category: Uncategorized
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Edmonton Office Market Trends
Private local investors dominate office property transactions in Edmonton. 11 of the past 12 office building sales were to Edmonton-based buyers.
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Renewing your mortgage at the peak
Canadian mortgage holders have an opportunity to reevaluate their options as interest rates begin to decrease. It's important to understand market dynamics and Bank of Canada policies, considering factors such as credit score, market rates, mortgage type, term, penalties, prepayment options, negotiation, and professional advice. Meanwhile, Ontario has introduced a financial literacy test for high…
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How Canadians Can Find The Best Mortgage Rates
To secure affordable property in Canada, compare mortgage rates from various lenders based on market trends. Understand how inflation, global economy, and Bank of Canada's decisions impact rates. Improve credit score for better rates, consider different mortgage types, negotiate terms with lenders, and factor in additional costs like closing fees. Seek advice from financial counselors…
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Canadian Interest Rate Forecast for Next 5 Years
The Canadian interest rate is set to decrease gradually over the next five years, with forecasts predicting a drop to 2.90% in 2024 and 2% by 2026. This change, influenced by factors such as inflation, economic growth, and global conditions, will also affect mortgage interest rates. Canadians are encouraged to consider fixed vs. variable rates,…
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Affordability: Alberta’s Top Priority
The Alberta government is prioritizing affordability with measures to reduce the cost of living. They introduced the Affordability Action Plan and Taxpayer Protection Act to control taxes and spending.
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Edmonton’s Housing Growth Shows Potential
Housing sales in Edmonton ↑146% between 2020-2024. Edmonton outpaced most Canadian cities in housing sales growth over the last 4 yr.
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How to Find a Buyer’s Agent
Speak to friends, local business owners, and check for "sold" signs in desired neighborhoods.Look for agents who’ve successfully closed transactions in the area where you’re looking to buy.
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Mortgage pressure not likely to unhouse many homeowners
A new survey reveals that downsizing, upsizing, and relocating are the main reasons homeowners consider selling. Market timing is crucial for achieving desired sale prices, according to 23% of respondents. Financial strain is a less common reason for selling, with only 11% citing unmanageable mortgage payments. Downsizing is the top reason at 37%, followed by…
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Live Large on a Budget: Alberta’s Affordable Cities
A new report has detailed the top four most affordable major cities in Alberta. Red Deer: Ranked 3rd in Canada for affordability (25.7% of income for mortgage), with average home price of ~$393K.
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Alberta Surpasses Record for Home Construction in a Month
Alberta started construction on over 4,100 homes in May, marking a record high for any single month. Alberta achieved the highest number of new home starts in a single month on record.