A simple place for writing
Mortgage tree • #205, 1680 40th ave sw. • Calgary, alberta • (403) 510-0455
Come see me for your next mortgage or renewal.
Whether you are buying your first home, refinancing, investing in a rental property, purchasing a second home, transferring your mortgage, or accessing private funds - I am here for help.
The Bank of Canada’s conventional five-year fixed posted mortgage rate is the mode (i.e., the most common occurring number) of the conventional five-year fixed mortgage rate advertised by Canada’s six largest banks. The rate is updated weekly and is available on the Bank of Canada’s website (CANSIM table 176-0043). The Bank of Canada’s posted rate is typically higher than the contract mortgage rate most buyers actually pay. As of June 27th, 2017, the Bank of Canada posted rate was 4.64 per cent. (click the link above to see 'Interest Rates' and look at the 'Conventional mortgage - 5-year') and the prime rate was at 2.70%.
Come See me!
"I like my coffee.... like most people like their mortgages. Knowing it's consistent, smooth and reliable no matter how it comes!"
CMHC Report June 2017
Welcome to the June 2017 update.
And just like that, June has almost left us and that means if you've got little ones.... they're out of school for the summer! Here in Calgary we are preparing for another summer of crazy weather. Typically we can expect Sun, rain, hail and even sometimes snow in July!! Yes... yes the Calgary Stampede brings the best of the best of even the weather to town with it! On that note, here is a quick update on what the real estate landscape has looked like in the past 30 days.
CHMC and Mortgages - There doesn't appear to be a whole bunch of stress on the residential mortgage market. CMHC predicts the delinquencies and problems are lower in some areas, especially with the super hot markets such as Toronto and Vancouver although the prices seem to be higher. However, there tends to be a bit of a trend in the energy dependent markets such as Calgary and Edmonton where the delinquencies have increased a little.
CREB Home Starts - Its as though the Calgary housing prices remained stable in May according the CREB website on June 1st. Leading the way was the single detached sector with a trend upwards. As of June 27th, we see a 5.27% increase in house sales year over year. We are seeing a decline for how long the inventory stays on the market which in 2016 was 47 days now in June to 38. This is down 19.15% year over year. So in Calgary we are seeing the market go in the right direction. Slowly but surely we are heading in the right direction.
Click the Links Below to see the full reports.
CREB Housing Report June 2017