New report shows energy uncertainty creating options for buyers

For Calgarians looking for a new home, the financial cloud hovering over the province's oil patch may have a silver lining.

According to RBC's latest Housing Trends and Affordability Report, homes in the city became more affordable during the first quarter of 2015.

The bank's index, which measures the percentage of household income required to service the price of owning a home, showed costs in Calgary fell across all housing types in 2015.

The Town of Cochrane has released it's schedule for the 2015 Streets Improvement Project.

Work is scheduled for:

• Glenbow Dr. from Fifth Ave. to Highway 22


• Railway St. from Nan Boothby Library to Charlesworth Ave.


• Fifth Ave. from Griffin Rd. to CPR tracks


• Benchlands Dr. and Benchlands Pl.


• Powell St. between Ross and Pope Ave.

Calgary cycle track pilot seeing success in early days

For Calgarian Adrian Murphy, the opening of a second of four routes for the City's cycle track pilot is welcome news.

"I'm really looking forward to it," he said of the Fifth Street S.W. track, which opened June 12 and will allow him to cycle from his home in Mission to the 12th Avenue leg, which opened on June 4, and then to work.

Tips on how to get back in the black

According to Statistics Canada, household debt levels in the country have  risen to a record high of 163 per cent of Canadians' disposable income.

Yet that doesn't mean debt has to be a burden. In fact, it is far easier to get out of debt than most people think. You just need the right strategy.

While there are many ways to get out of debt, there is one that seems to work more
effectively than the rest: the modified snowball technique.

Calgarians drawn to more affordable alternative

After living in southwest communities of Midnapore and Evergreen for 27 years, transitioning to an apartment in Mission was an easy decision for Michelle Norman.

"Condo living was a very easy adjustment," she said. "I like the idea of being surrounded by a good mix of young and older residents as well as not having to worry about such things as yard work and snow removal."

Market sees rise in vacancies, rents

Calgarians looking to find rental housing have been treated to more selection in recent months.

According to a report from Canada Mortgage and Housing Corporation (CMHC), Calgary's vacancy rate in April stood at 3.2 per cent. The number is more than double the rate seen last April, when CMHC reported Calgary vacancies at just 1.2 per cent.
Across Alberta's urban centres, the rental apartment vacancy rate was 3.4 per cent in April 2015 compared to 1.8 per cent in April 2014, according to the report.

Calgarians and tourists will be able to cycle to Stephen Avenue Mall for lunch after a recommendation imposing time restrictions was struck down.

In council today, Coun. Sean Chu made a recommendation that "Council direct the traffic engineer to exercise his authority to not allow bicycle riding on the Stephen Avenue Mall between 11 a.m. and 1 p.m. weekdays.

Coun. Druh Farrell argued there are already restrictions in place during Stampede week adding, "We're talking about a pilot here, let's try it out."

Acreages and rural living provide room for growth, sense of community

Alberta's come a long way from its historical roots of buffalo herds and settlers.

More than 600,000, or 17 per cent of, Albertans lived in rural populations in 2011, according to Statistics Canada. That's a far cry from 75 per cent who lived rural rather than urban in 1901.

Yet a pioneering spirit still remains throughout the province, said Alberta Agriculture and Rural Development Minister Verlyn Olson.

Short-term fixed re-emerging as alternative

Variable rates are back in fashion after the Bank of Canada lowered the overnight  lending rate in January, and economists expect another decrease in the near future.

Yet, even though variable rates make sense, most borrowers are still leaning toward fixed-rate mortgages for no reason other than certainty. Consumers like to know what their mortgage rate is going to be.

The good news is there are options for risk-averse borrowers who don't want to dive into the variable-rate waters, but still want the low rates that come with the floating products.