Stories Tagged - ATB Financial
March 05, 2021 | Barb Livingstone
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.
Sept. 11, 2019 | Mario Toneguzzi
When Todd Hirsch went looking for his first home in 1994, he remembers telling his REALTOR® he wanted something that was new or recently updated.
July 18, 2018 | Mario Toneguzzi
It's been a challenging year for Calgary's resale housing market, which is still feeling the effects of two recession years in 2015 and 2016.
While the economy has rebounded, it has been at a slow pace, and this has been evident in the real estate industry. As of the end of June, year-to-date MLS® System sales in the resale market totalled 8,553 units, down 17.1 per cent in the city compared with the same period a year ago.
April 04, 2018 | Mario Toneguzzi
Jan. 30, 2018 | Gerald Vander Pyl
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.
Dec. 06, 2017 | Barb Livingstone
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.
Sept. 05, 2017 | Kathleen Renne
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?
June 15, 2017 | CREBNow
According to Statistics Canada, investment in home renovations in the first quarter of 2017 hit a record high of $1.78 billion. A release from ATB Financial's Economics and Research Team says this is close to double the spending a decade ago.
Todd Hirsch, chief economist with ATB Financial, says he was surprised by the data for the first three months of this year.
"The increase that we saw in late 2016 and the first quarter of this year can be attributed to the rebuild in Fort McMurray (from last year's wildfires) because not every house was destroyed, which we tend to focus on." he said. "There were also many, many homes that needed to be renovated."
Jan. 11, 2017 | Joel Schlesinger
Recent changes by the federal government to mortgage lending rules will likely serve as headwinds for the city's recovering real estate market in the coming year, said CREB® in its 2017 Economic Outlook and Regional Housing Forecast.
Since 2008, the federal government has been tightening mortgage lending rules.