REALTORS® serving Calgary and area

 

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Calgary's trusted source of real estate news, advice and statistics since 1983.

 

Stories Tagged - mortgage rules

The ultimate impact of new Canada-wide mortgage rules on the Calgary housing market is hard to predict. But experts say the new rules, combined with rising interest rates, might make it harder for many people to break into the market.
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News

Jan. 30, 2018 | Gerald Vander Pyl

Up in the air

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.

CREB® president David P. Brown says buying a home is a personal decision, but waiting too long creates risks. CREB®Now photo
News

Jan. 10, 2017 | Jamie Zachary

Q&A with 2017 CREB® president David P. Brown

Real estate veteran to take reins of member organization

The New Year will welcome a new president for CREB® and its 5,200-plus members as local real estate veteran David P. Brown takes the reins during what's expected to be a year of transition for the industry.

CREB®Now caught up with Brown to talk about everything from his financial background to what advice he has for prospective homebuyers.

CHBA-UDI Calgary chair Allan Klassen expects the city's new housing industry will continue to face difficult conditions in the first half of 2017, followed by a slow return to normalcy. Photo by Wil Andruschak/for CREB®Now
News

Jan. 10, 2017 | Barb Livingstone

Signs of recovery

Housing officials expect new builds to post slight rebound in late 2017

"Turbulent." That's how the head of Calgary's homebuilders and developers group describes the new housing market in 2016.

And 2017?

"Recovery," said Allan Klassen, chair of the recently merged Canadian Home Builders' Association—Urban Development Institute Calgary (CHBA-UDI Calgary).

News

Nov. 01, 2016 | CREBNow

Home sales rebound in October

CREB® points to mortgage rule changes as motivator

For the first time in two years, resale residential housing sales activity in October resembled normal levels, according to a new report.

City-wide sales totaled 1,644 units, which is an increase of nearly 16 per cent over last year, reported CREB® in its monthly housing summary.

"The shift in sales activity this month is likely related to the new mortgage rule changes, inventory gains in the lower price ranges and further price adjustments," said CREB® chief economist Ann-Marie Lurie.

News

Nov. 27, 2012 | CREBNow

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CREB® acknowledges that its office is located, and that its REALTOR® members serve, on the traditional territories of the peoples of the Treaty 7 region and Métis Nation of Alberta, Region 3. We honour and acknowledge the members of the Métis community and specifically, the Métis Nation Region 3. In the spirit of reconciliation and because we are all treaty people, we also acknowledge all Calgarians who make our homes in the traditional Treaty 7 territory of Southern Alberta.


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