Tuesday’s interest rate announcement by the Bank of Canada marks the fourth consecutive time that they have held the status quo. Will this current status quo serve as any rush to buy, or rush to lock in rates? The question is whether consumers feel any sense of urgency. Is this the last holding pattern? With no increase in the overnight lending rate it leaves Variable Rate Mortgages at a low of 2.25% as of today. The low carrying cost of $382/mth for every $100k in financing (30 yr amorti ... Full Article...

Finance Minister Jim Flaherty is trying to curb consumer debt by tightening mortgage rules. http://www.calgaryherald.com/business/story.html?id=4117842 Highlight: -Reduced maximum amount on refinancing to 85% from 90% -Reduced maximum amortization to 30 years from 35 years. -Withdraw government insurance backing on lines of credit secured by homes, such as home equity lines of credit, or HELOCs  

Interesting Article in the Calgary Sun today. If you’re a Calgary property owner, there’s good or bad news coming to your mailbox. Calgary property values are on the upswing following a decline last year which means more than half of city homeowners can expect to pay higher rates based on new assessments released Tuesday. About 55% of Calgary residential property owners will likely see a tax increase, while 45% can expect a decrease based on the annual assessment the city conducted. ... Full Article...