Recent changes to the mortgage stress test designed to cool down hot housing markets across the country may make it more difficult for some Albertans to purchase a home.

Whatever "new normal" is coming, the COVID-19 pandemic has reshaped many aspects of the real estate industry in Calgary and across Canada. From changes to the way homes are built, bought and sold, to shifts in buyer priorities and the economic forces at play, it's been a wild ride for REALTORS^®, builders, homebuyers and everyone in between.

Enticing discount mortgage rates have helped put Calgary's detached home market in rare form.

Historically low interest rates are helping boost the residential real estate market in Calgary and across the country, with the trend expected to continue throughout 2021.

Along with lowering monthly utility bills, green home features can also cut costs for homeowners by reducing their mortgage insurance premium.

Depending on the home's degree of energy efficiency, up to a quarter of a borrower's premium can be covered by a rebate through the Canada Mortgage and Housing Corp. (CMHC) Green Home program.

In a normal year, crafting a few New Year's resolutions can be a fun way to identify opportunities for personal growth and development in the year ahead. However, 2020 has not been a normal year by any stretch.

Given the circumstances, you could certainly be forgiven for deciding that 2021 requires no loftier pledge than "I will make it through this year in one piece." But if you are still looking for some self-improvement suggestions, here are a few real estate resolutions to set you up for success next year:

Now 88 years young, the ol' potlicker himself, Jim "Bearcat" Murray, long ago passed into the realm of legend hereabouts.

Nearly a quarter-century since retiring from the Calgary Flames as the only NHL athletic trainer with his own fan club (boasting Boston and Montreal chapters), Murray – recognizable by his bald head, generous moustache and ready grin – continues to be an icon.

If you're a first-time homebuyer, many aspects of the purchase process can be confusing and stressful, including financing. While the mechanics of a mortgage are relatively simple, choosing the right mortgage product can be far from it, as many of the choices available to buyers are obscured by complex and unfamiliar terminology.

To help you cut through the jargon, here's an alphabetical list of common mortgage terms and their definitions: