Mortgage Options Shrinking For Those With HELOCs

If you have a mortgage you may also have a Home Equity Line of Credit (HELOC). As time goes buy, home owners with a HELOC can gain greater access to this equity by refinancing. This can eventually leave you with a generous credit limit, which is great news to many...

Bank of Canada Overnight Hike

The bank of Canada's target for the overnight rate went up by .25% this morning, to a total of 1.75%. This has a direct impact on the Prime Lending Rate, which is what Lines of Credit and Variable Rate Mortgages are priced against. Prime is now at 3.95%. What is the...

Standard vs Collateral Mortgages

When you apply for a mortgage to buy a property you also agree to provide the lender with security, usually the home you are buying. This means that if you default on the terms of your mortgage loan, such as failing to make a payment, the lender can foreclose on the...

The Bank of Canada is keeping interest rates the same—for now

The Bank of Canada’s rate, known as the target or overnight rate, affects the interest rate borrowers and savers are offered from retail banks on savings accounts, mortgages, and other financial services. The Bank raises its rate when it wants...

Calgary Economy Improves in Buyers’ Market

Calgary Economy Improves in Buyers’ Market

With the recent decrease in housing overabundance, it appears the city of Calgary is on the way to economic recovery. According to the 2018 civic census, in June there were 19,408 empty housing units in the city (3.86% vacancy rate), compared to 23,553 units in June...

Bank of Canada hike rates 0.25%

They said they would, and they did! The central bank raised its rate by 0.25% on Wednesday. Thanks to the humming Canadian economy and global economies, the rate was increased to 1.5%. Every six weeks the Bank of Canada meets to decide whether to raise or lower its...

Prime Rate Increase in July Less Likely

Prime Rate Increase in July Less Likely

Despite the previous common consensus, it appears The Bank of Canada is NOT as likely to increase their prime rate of interest in July as previously expected. It appears that those responsible for “looking into the future” may have been a...

Nine Reasons Why Your Home Hasn’t Sold

If your home isn't getting enough attention from buyers, there could be multiple reasons why it's not selling. Today I'll be speaking about nine different reasons why this might be happening to you.  Your photos are terrible.Buyers go online to look at homes these...

Top Things to Look for in a Calgary Mortgage Broker

Securing a mortgage is perhaps the most difficult part of the process of buying a home. That process is made easier if you have an expert by your side. However, given how rarely we buy homes or refinance our loans, far fewer people know what to look for in a mortgage...

An Appraiser’s Take on the Calgary Market

An Appraiser’s Take on the Calgary Market

Winter has finally FINALLY come to a close (knock on wood) and summer is well on its way (knock again). As Calgary changes with the seasons the housing market throughout the city typically changes too. As (Jared) Nolan Moore, a Canadian Residential...