Bank of Canada – Key Interest rate Projections The Bank of Canada (BoC) key interest rate is now at 4.5%, the highest it has been in fifteen years.  Further increases are on hold for now.  According to a BoC quarterly survey of “market participants” none said that rates would go higher this year.  Some thought rates could fall by 0.75% by December 2023. Most participants think rates will be ...

These four Statistics tell the Story Sales: in January are 1199 properties sold, that is 40% lower than this time last year.  What it shows it that there is a lack of product for buyers. New Listings: 1852 properties available to buy. That is 25% lower than this time last year. What it shows is that people who have houses do not want to sell them. Inventory: 2451 properties: that is down b ...

January 26, 2023 The City of Calgary has chosen SNC-Lavalin to be the delivery partner for Calgary’s Green Line LRT. SNC-Lavalin will be the construction project manager for Phase 1. Phase 1 will be 18 km in length and run from Eau Claire in the downtown area to Shepard in the South East. Construction is to start in 2024 and be complete in 2027. Total project will be 47 km in length and ...

Bank of Canada raises the lending rate by 0.25%.

Next schedlued date for interest rate adjustments is March 8, 2023.

Inflation is coming down slowly, but still above the target of 2%.  The irony is that the increased interest rates are contributing to increased inflation because housing costs are going up due to the increasing rates!

CREB 2023 Market Forecast - Summary 1. Elevated lendng rates are expected to weigh on sales throughout 2023;2. Sales will still be above pre-pandemic levels;3. In-mirigration and employment growth will offset the higher lending rates;4. Price growth is expected to be flat overall for 2023.  With perhaps, lower prices for the upper end properties and higher prices for the lower price point proper ...

2023 Tax Assessment Notices have been sent to Calgary Home Owners Now is the time to review your property tax situation.  From time to time it is advisable to check your tax status to see that you assessment is in line with where it should be.  If the city has information on your file about the house that is wrong, then you could be paying more than you should be.  It is worthwhile to ensure ...

Residential Rental rates are up 22% year over year in Calgary!  This is more than house price increases are up by about 10% y/y, but have come down by 4% since the peak this summer.  Now might be a good time for an investment property!

The next Bank of Canada meeting is December 7, 2022 Jerome Powell, BoC Govenor, is saying that we should expect an additional interest rate rise of 0.5% at the next meeting.  He has said that they want to slow the increases as they near what they expect the target interest rate to be in order to slow inflation to the two percent range.  The worry is that if they overshoot the target interes ...

Hello All;Airdrie detached property market remains very strong.  To show what I mean, let's look at all detached properties priced between $400,000 and $600,000, currently active, and properties sold in the last 14 days.  There are 17 sales in the last two weeks and 28 properties active on the market.  This gives a "Months of Inventory" of less than one! This shows that properties are selling ...

Happy winter everyone!With interest rates continuing to climb, it is important that for those of you with a mortgage coming up for renewal that you shop around. 60 to 90 days ahead of your mortgage needing renewal it would be an idea to reach out to a Mortgage Broker to see if you can find a better rate!  Who knows... your bank may even match the better rate!One thing to remember is that if y ...