For many people, buying a first home is an exciting, but stressful, experience. CREB®Now spoke with a few members of Calgary’s business community to find out what it was like making that first big investment in their lives. (more…)
Impact of new mortgage rules on Calgary housing market remains uncertain entering 2018
A new Canada-wide stress test for people applying for uninsured mortgages is leading to uncertainty among experts about the possible effects on the Calgary real estate market in 2018.
The federal government’s new B-20 guidelines, introduced on Jan. 1, set out a new minimum qualifying rate or “stress test” for mortgages. Borrowers must qualify using the five-year benchmark rate published by the Bank of Canada, or the contractual mortgage rate plus two per cent – whichever is greater.
As 2017 winds down, experts weigh in on what’s to come
It is a word used extensively this year, as Calgary’s economy and housing industry tiptoed to recovery.
And that word — modest — is one you will continue to hear in 2018 in relation to expected gains by each branch of the residential home market.
New HQ or not, e-commerce giant’s impact is already being felt
Let’s call it the “Amazon effect”: the cascading economic stimulation that comes from one of the world’s largest corporations taking up residence in your market.
It is an effect already being felt in the Calgary region after the announcement that the e-commerce giant will be opening a 600,000-square-foot distribution centre in Balzac – employing 750 full-time workers, and an additional 450 part-time or seasonally, by the end of 2018.
Alberta’s most popular renovation projects
Canadians spent nearly $53 billion on renovations throughout 2016, according to Statistics Canada. And throughout the first quarter of this year, Canadians have already spent more than $12 billion on renovations.
According to ATB Financial’s Economics and Research Team, home renovations in Alberta alone hit “a record high” of $1.78 billion during the first three months of 2017.
So, just where are Canadians – and Albertans, specifically – spending their renovation dollars?