Aug 5, 2010, Charges laid in 12M Calgary mortgage fraud scheme Alberta Law Enforcement Response Teams (ALERT) have laid charges in a $12-million mortgage fraud scheme. During a two-year investigation, authorities determined there were 22 properties involved in the scheme. The police probe also uncovered 12 witnesses, people who were recruited to obtain a mortgage. “The nominees, known as straw … Read More
Jul 27, 2010, Mortage rates still affordable The Bank of Canada raised its key overnight lending rate by 0.25% last week, no doubt setting off another round of confusion about mortgage rates and regulations. Most people will think interest rates will rise rapidly, which is not always the case, says Peter Kinch, founder of the Peter Kinch Mortgage Team. “The … Read More
Jul 9, 2010, Construction of new homes in Calgary soared in June Housing starts in the Calgary census metropolitan area soared in June compared with a year ago. According to preliminary data released today by Canada Mortgage and Housing Corp., total starts during the month were 685, up by 57.8 per cent from June 2009. Single-detached starts jumped to 531 … Read More
Jul 7, 2010, House prices to dip, not crash: Royal LePage Housing prices in Canada are slowing, but aren’t likely to crash, according to experts at Royal LePage. After two busy quarters, an influx of homes for sale will pull average selling prices down in the second half of the year, the realtor found. Today, a detached bungalow sells for … Read More
Jul 5, 2010, Most Albertans expect to pay less than asking price for home: survey First-time homebuyers in Alberta, more than in any other Canadian province, are expecting to pay less than the asking price for their home. The first TD Canada Trust Home Buyers Report, released today, says 71 per cent of those surveyed in the province expect to … Read More
Jul 2, 2010, Single-family, condo sales take June nosedive MLS sales plunged in June in Calgary in both the single-family home market and condomiminums. Statistics released today by the Calgary Real Estate Board showed sales in the single-family home category of 1,061 for the month plummeted by 42.24 per cent while condominium transactions of 445 declined by 39.70 per cent … Read More
Jun 25, 2010, CIBC joins RBC, TD in cutting mortgage rates OTTAWA — CIBC is the latest Canadian bank to announce lower residential mortgage rates, matching the average 0.10 per cent cut by Royal Bank of Canada and TD Canada Trust. CIBC said Friday its five-year closed mortgage rate falls to 5.89 per cent, effective Saturday, the same level as … Read More
Jun 25, 2010, House prices likely to rise 5-7 in Calgary: Conference Board The short-term year-over-year price growth expectation for Calgary’s resale housing market is in the range of five to seven per cent, says the Conference Board of Canada. In its latest Metro Resale Index released today, the board placed Calgary in the second highest level of price growth … Read More
Jun 10, 2010, New home prices in Calgary CMA flat for April, StatCan says New house prices in the Calgary census metropolitan area remained flat in April from the previous month but rose by more than the national average on a year-over-year basis. Statistics Canada in reporting its New Housing Price Index today said Calgary new home prices increased by … Read More
Jun 1, 2010, Bank of Canada raises key interest rate to 0.5 percent For the first time in nearly three years, the Bank of Canada on Tuesday hiked its key interest rate, by 25 basis points to 0.5 per cent, as the domestic economy rebounds strongly against the backdrop of an “uneven” global recovery. However, it signaled in its accompanying … Read More