According to this article, Alberta is still an affordable place to purchase real estate. Enjoy the read.
CALGARY - Alberta was the only province to experience an improvement in housing affordability in the first quarter of 2010, according to the latest housing report released today by RBC Economics Research.
Read moreInflation rose in March from 1.4% to 1.7%. Stats Can will release April data on Friday of this week. Many economists predict that inflation will be even higher in April. This could lead the Bank of Canada to raise interest rates on June 1st. Maybe you want to lock in your rate before interest rates rise in June???
Read moreHere is a great article form the Calgary Herald: "Canadians appear well prepared to face the new phase of the residential mortgage market, where interest rates are rising and house activity is easing off, according to the sixth biannual review of the Canadian mortgage market by the Canadian Association of Accredited Mortgage Professionals released today.
Read moreThis article is from the Financial Post. It offers some suggestions for how to help out your children, as well as how to make good long term investment for yourself at the same time.
Here's one way to tackle the red-hot Canadian housing market: Get someone to buy you a home.
Here are some interesting Stats on Canadian borrower habits.
• There are approximately 9.3 million homeowners in Canada, including about 5.55 million with mortgages.
• Almost 80 per cent of young borrowers have opted for a fixed rate mortgage or a mortgage that combines fixed and variable rates.
Read moreAnother reason to be excited that we do business in Alberta, the province will lead the country in growth next year. This article explanins what accounts for the lift.
CALGARY - Alberta will lead the country in economic growth next year after falling behind the national average this year, says one of the country’s chief economists.
Read moreSelf-employed Canadians have always had a harder time getting approved for a mortgage due to a higher-risk borrower profile. As of April 9, getting a mortgage became even more difficult for business-for-self clients due to new CMHC rules that are receiving mixed reviews from the mortgage broker community. The new rules change a number of things. First off, self employed borrowers with more than three years in the same business, as well as commissioned-income borrowers, are now required to provide traditional proof of income (or "third-party validation") to qualify for a loan.
Traditional income validation is available through documents like financial statements, contracts and T4s. The CMHC said the rule changes will ensure that self-employed borrowers with third-party validation will benefit from a lower premium. Those who have recently become selfemployed and don't have third-party validation can still apply for a mortgage, but have to come up with a 10 per cent down payment instead of five per cent. Refinancing will also be cut to 85 per cent loan to value instead of the previous 90 per cent.
Read moreI found this article in the National Post, we Canadians are savvy investors when it comes to Real Estate. We know the Canadian market is still undervalued and we are willing to put our money where our mouth is. Some of us are liquidating underperforming stocks in our portfolios to purchase property. This is good news for the Canadian Economy. Read on for inspiration!
Read moreThis article offers 5 excellent ideas about what to do with your tax refund. I have a sixth idea for you, there are many investment vehicles out there and Alta West Mortgage has a few too. We offer several Mortgage Investment Company's(MIC's) that yield good returns in these uncertain times. Contact our office for more info on that and read this article for more investment advice.
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This article highlights how Alberta continues to out pace other provinces in wages for 2009, yet another great reason to live and do business here! "CALGARY - Average weekly earnings in Alberta jumped to a record level in February despite coming off a tough recession year in 2009.
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