Edmonton Mortgage – Edmonton Market Update

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While the prices of Edmonton homes did rise slightly last month, the overall market has remained stable as we finish off the summer.

The most recent housing statistics released by the Canadian Real Estate Association indicate that the average sales price last month rose for single family homes but remained balanced for duplexes, rows, and condominiums. […]

Interest Rate News – July 2017

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By Jason Scott,
Mortgage Broker
TMG The Mortgage Group

We knew it was going to happen eventually.

The Bank of Canada finally increased its overnight rate by .25 per cent to .75 per cent on July 12.

Citing an approving economy, the BOC increased rates for the first time in seven years.

Banks and other lenders were quick to increase their […]

Tips for Getting Your Loan Approved

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As an Edmonton mortgage broker, I understand that the process of getting approved for a loan can be intimidating. You may feel overwhelmed about what is required to apply or feel nervous waiting to know whether or not you are approved for the loan you want.

Throughout my years of experience in the mortgage industry, I […]

Mortgage Insurance Premiums To Go Up

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The cost of mortgages for homebuyers with smaller down payments is going up today.

Mortgage default insurance premiums – needed any time buyers have less than a 20 per cent down payment – will increase on March 17, 2017.

The increase is meant to ensure mortgage insurance companies like Canadian Housing and Mortgage Corporation (CMHC) Genworth Financial […]

Edmonton Mortgage | Canadian Mortgage News Update

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In October, the Canadian Federal Government enacted changes to the country’s mortgage regulations, requiring homebuyers to pass a “stress test” and qualify for higher mortgage rates.
As an Edmonton mortgage broker, Jason Scott has strived to stay up to date on all local and national market news and trends. Throughout his years of experience in the […]

St. Albert/Edmonton, AB Market Update – November 2016

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Alberta’s housing market should be ending the year on a solid note.

As we head into the colder months of the year, the housing market usually slows down. So far in 2016, the market has remained relatively constant despite the cooler weather. Sale numbers are consistent and prices remain stable, which is great news for those […]

New Mortgage Rule Will Make it Harder to Borrow

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A new mortgage rule will to make it dramatically harder to borrow for a mortgage.

Bill Moreau, Canada’s finance minister, announced today that borrowers will have to qualify at the Bank of Canada rate on all insured mortgages – those with less than a 20 per cent down payment.

Today that rate is 4.64 per cent which […]

Alberta Homebuyers to Pay Dramatically Higher Real Estate Fees

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Homebuyers are going to see major fee increases in the wake of last Thursday’s provincial budget.Beginning July 1st, land transfer and mortgage registration fees will increase for both flat fee and variable fee components.The flat fee component of each type of registration increases from $50 to $75 (that’s a 50 per cent increase) but is […]

Is the Sky Falling? Economic Perspective on Edmonton and Oil Prices

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Wow, there sure is a lot of bad news about oil prices and its impact on the Edmonton and Alberta economies.You’d think the sky is falling with all the doom and gloom.I used to work as a reporter and photographer in the newspaper industry so I know bad news sells papers. “If it bleeds, it […]

Shocking Bank of Canada Interest Rate Cut Should Lead to Lower Mortgage Rates

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If you’re into economic policy, today was a jaw dropper.
Stephen Poloz, the governor of the Bank of Canada, shocked markets today when he announced a .25 per cent cut in the bank’s key lending rate.
The key rate had been at 1 per cent since 2010 and experts were expecting a rate hike later this year.
Instead […]