26 Jul 2017

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Affordability is increasing in Calgary

While measures have been made on a federal level to cool hot housing markets in Canada, the National Bank of Canada’s Housing Affordability Monitor is reporting that affordability is actually increasing in six Canadian cities, and Calgary is one of them. In Calgary, monthly payments are down 0.8 per cent. This trend is due largely in part to lower home prices in Calgary and overall low mortgage rates. To give some comparison, the average monthly mortgage payment in Calgary is now $2,050, compared to $4,268 in Vancouver (the most expensive). Reportedly, the income a home buyer needs to buy the average home in Calgary is…

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13 Jul 2017

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Why the Bank of Canada changes rates

This week, the Bank of Canada raised their interest rate for the first time in seven years. But…

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