Alberta sky is not falling

The graph below shows the expected Alberta GDP growth rate for the end of 2015 and 2016. The numbers are still positive – just not as high as they were before.

If the Calgary to Edmonton corridor was a country it would have the 2nd highest growth rate in the world after China. Read More

Calgary housing market a low overall risk of price delines

All the hot air about Calgary housing being over-valued looks to be hot air as CMHC’s report notes below.

Mark Herman, top Calgary Alberta Mortgage broker for renewals and new home purchases

Calgary housing market a low overall risk: CMHC

Mario Toneguzzi, Calgary Herald More from Mario Toneguzzi, Calgary Herald Published on: April 30, 2015 Last Updated: April 30, 2015 5:59 PM MDT

Calgary is at a low risk of a housing correction, says Canada Mortgage and Housing Corp. in an assessment of market conditions across the country. Read More

Schedule of Increased Alberta Real Estate Fees

Here is a schedule of the actual increase in fees.

For my comments on what this all means see my last post here

Please contact me by phone at 403-681-4376 or my email at mark.herman@shaw.ca

Data:

  • Increases are only for 5% down payment buyers.
  • Clients who get submissions in prior to June 1st will be eligible for old premiums.
  • Effective June 1st, (owner occupied 1 – 4 unit) mortgage loan insurance premiums will be:
Loan-to-Value Ratio Standard Premium
(Current)
Standard Premium
(Effective June 1st, 2015
Up to and including 65% 0.60% 0.60%
Up to and including 75% 0.75% 0.75%
Up to and including 80% 1.25% 1.25%
Up to and including 85% 1.80% 1.80%
Up to and including 90% 2.40% 2.40%
Up to and including 95% 3.15% 3.60%
90.01% to 95% — Non-Traditional Down Payment 3.35% 3.85%

 All this from Mortgage Mark Herman, top Calgary Alberta mortgage broker for home purchases and mortgage renewals. Read More

New to Canada Mortgage Program and Stats

Below are some interesting numbers of New to Canada residents.

We specialize in New to Canada programs as there are many in’s and out’s with the details.

Because New to Canada people do not have the standard 2 years of Canadian credit history here to buy a home, there are special programs that help them buy as soon as they have a full-time, perminant job. Read More