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...

Bank of Canada Announcement Makes Future Clear

Bank of Canada Announcement Makes Future Clear

The Bank of Canada made a statement May 30th holding steady on their benchmark rate of 1.25%. Despite three interest rate increases since last July, the Bank of Canada has chosen not to increase again at this time, citing trade uncertainty, the slow...

Nearly half of Alberta Mortgages to Renew in 2018

2018 is the year of mortgage renewals in Alberta! This has been Mortgages for Less’ busiest year with mortgage renewals. A CIBC Capital Markets report says that an estimated 47 per cent of all existing mortgages will need to be renewed this year. A normal...

Bank of Canada Raises Qualifying Mortgage Rates

On May 9th, the Bank of Canada raised its Benchmark Qualifying rate. The Benchmark rate is the median average of the 5-year posted rates from the major six banks. Given recent rate increases over the past few weeks, that median rate increased this week by...

The Calgary Housing Market Expected to Stay Stable for 2018 

Canada’s housing market has long been considered quite overheated. This trend is mostly driven by the extreme markets of Vancouver and Toronto housing markets; these are the markets that government regulations that limit loan to value ratios among others were targeted...

Bank of Canada Holds Steady – for Now  

Governor Stephen Poloz and his Governing Council ended their deliberations on April 18th, and the end decision was not to raise interest rates. This has left the benchmark interest rate at 1.25% for now. However, they are unlikely to keep interest rates this low for...