May 2017

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 May 30th, 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%.

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"I like my coffee.... like most people like their mortgages. Knowing it's consistent, smooth and reliable no matter how it comes!"

Posted Rate

Canadian housing starts trend upwards in April

Welcome to the May 2017 update.

Can you believe that May has come and is almost gone already! Here is a quick update on what the real estate landscape has looked like in the past 30 days.

Housing starts are trending higher at 213,768 units in April 2017, compared to 210,702 units in March 2017, according to Canada Mortgage and Housing Corporation (CMHC). This trend measure is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.“New housing construction increased in Canada, with seasonally adjusted data exceeding 200,000 units for five months in a row”, said Bob Dugan, CMHC’s Chief Economist. “The increase in the trend was mainly due to apartment construction in British Columbia and Québec, which was partly offset by a decline in Ontario’s multiple starts.”

Click the Link Below to see the full report.