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Stories Tagged - mortgage rules
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.
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.
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.
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.
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).
"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.
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.
