As per Reuters News Agency the Bank of Canada is expected to increase the cost of borrowing by 50 basis points (0.5%) on October 26, 2022.  

Get your mortgage pre-approved ASAP if you are planning a purchase in the near future.  Also, if your mortgage is renewing soon pe pro-active and lock in as soon as you can!

I trust that this helps.

Paul

October 6, 2022 – Report from RBC chief economist Robert Hogue

“Alberta’s stronger economy, the rebound in in-migration and Calgary’s relatively favourable affordability undoubtedly continue to stoke housing demand at this stage”

The Bank of Canada’s next meeting is October 26 and the interest rate is expected to rise once again, probably 0.5% or 0.75%.

Calgary Housing Home Price Index Summary Hello and I trust that you are enjoying this fantastic fall weather! A quick summary of Home Price Index (HPI) for residential property in Calgary by property class follows: For detached property year over year (y/y) prices have increased by 12.9%; however prices are down by 3.2% since their peak in May. For Semi Detached property y/y prices are up ...