The Government of Canada has announced changes to the Canada Mortgage and Housing Corporation's (CMHC) lending programs supporting existing social housing projects.

The Government — effective immediately — will be accepting the prepayment of closed CMHC mortgages with a yield maintenance prepayment penalty consistent with private lending institutions for eligible existing social housing projects that require capital repairs and renovations.

Brought about by shifting market conditions, the face of the average Canadian homebuyer is also undergoing substantial changes.

As revealed in a national survey from RE/MAX, almost one in five prospective buyers in Alberta is single, with the number of young buyers – those aged 18 to 34 – the highest amongst all the provinces at 40 per cent.

Calgary's commercial market is flying high and spreading its wings. Once thought of as a bastion for homebuyers, the allure of the suburbs is beginning to wear off on commercial clients.

According to CBRE, the cost of renting prime office space in Calgary's suburban market rose 16.3 per cent over the last year, placing the market amongst the top 10 risers in the world.