Prime could double by end fo 2015.

All the more reason to take the 5 year fixed rate. Here is some fuel for the fire of fixed rates- which have never been this low! Below you can read the boring data we digest daily to give you the best un-biased opinion on your mortgage.

Does your banker do this for you – no way!

Mark Herman, Calgary Alberta Mortgage Broker.

OECD calls for Bank of Canada rate to more than double to 2.25% by end of 2015

Gordon Isfeld | 19/11/13 7:11 AM ET Most economists believe the Bank of Canada Governor Stephen Poloz and the central bank won’t budge off 1% until the first quarter of 2015, and perhaps even later.
  Canadian Press: Most economists believe the Bank of Canada Governor Stephen Poloz and the central bank won’t budge off 1% until the first quarter of 2015, and perhaps even later.

OTTAWA — Just last month, the Bank of Canada dropped a mini-bombshell by adopting a neutral position on interest rates, after long insisting that any eventual move would be up.

That left open the real possibility the central bank may, instead, lower borrowing costs — at least until the struggling economy regains its momentum. Read More

Averge YYC home prices to be > $500,000 in 2017

I have had many people ask what home prices are going to do over the next 4 or 5 years. Well here are the numbers!

Remember, if Alberta were a country our growth would be the same as the world leader – China! – Mark Herman, Calgary Alberta Mortgage Broker.

Calgary resale home average prices to balloon to more than half a million dollars

Report says average to hit $517,016 in 2017

CALGARY – The average price for a resale home in Calgary will balloon to more than half a million dollars by 2017, according to a new real estate report released Tuesday. Read More

Calgary housing boom pushing prices to all-time high

Below in blue I have highlighted the most important part of this and paste it here too: “the Calgary numbers we’re seeing today show this is the strongest and healthiest housing market since the 2006 boom,” he said. “That said, this isn’t the boom — and that’s a good thing.”

As always, sustained growth  – as high as China if Alberta were a country – has people moving here and they have to live somewhere. Check out my other blog posts for more on this topic. Mark Herman Read More

Calgary outpaces province

Calgary outpaces province  

Single-family home construction starts in Calgary and area hit 3,085 in the first six months of 2013

Photograph by: Files , Calgary Herald

Construction starts of single-family homes during the first half of 2013 in the Calgary area were the highest of all urban centres in Alberta — outpacing activity from a year earlier, says a federal agency. Read More