Category: Alberta Real Estate Market Update

Canada's construction industry is projected to grow 2.2% in 2025, driven by increased residential and non-residential investments, despite challenges from US-Canada trade tensions. Recovery is expected from 2026 with a 2.6% annual growth through 2029, supported by government funding for public transit, renewable energy, and affordable housing. Building permits and construction investments rose notably in…

Most Alberta cities saw rent declines, with Airdrie, Calgary, Edmonton, Fort McMurray, and Medicine Hat experiencing drops between 1% and 7%. However, Red Deer and Lethbridge saw slight increases of 0.2% and 1.4%, respectively. Nationally, average rents fell 3.1% year-over-year, marking 14 months of decline, with North Vancouver remaining the most expensive city. Rent decreases…

Refinancing replaces your current mortgage with a new loan to secure better terms, lower rates, adjust loan length, access equity, or remove PMI. Options include rate-and-term, cash-out, cash-in, no-closing-cost, streamline, short refinance, reverse mortgage, and debt-consolidation refinances. Consider credit impact, home equity, closing costs, and break-even points. Ideal when rates drop 0.5%+, equity exceeds 20%,…

Canada's housing markets are adjusting unevenly heading into 2026. Ontario and B.C. face a reset in large, pre-sale dependent high-rise projects with stalled sales and slowed development. Quebec's housing starts hold but face risks from slower population growth and weaker new home demand, offset by strong rental construction. Alberta cools from a stronger base with…

Choosing the right lender for refinancing can save money on fees and interest. Options include banks, credit unions, finance companies, and online lenders. Loan officers and mortgage brokers differ in roles and compensation, so research is key. Compare loan terms, interest rates, fees, and services using disclosures like TILA and closing documents. Good service and…

Getting a mortgage with bad credit is challenging but doable with smart planning. A larger down payment reduces loan size, interest, and may eliminate mortgage insurance. Understanding credit scores helps improve them by paying bills on time, reducing debt, and avoiding new credit. Options like FHA, VA, USDA, subprime, and conventional loans cater to various…

Improving your credit score before applying for a mortgage can save you thousands in interest. Key steps include correcting errors on your credit report, reducing and consolidating credit card balances, keeping credit utilization below 30%, using credit cards responsibly, paying bills on time, and avoiding new credit applications. You can access free annual credit reports…

First-time homebuyers can improve mortgage approval chances by focusing on four key areas: enhancing credit scores by correcting errors and reducing debt; managing debt-to-income ratio and building savings; obtaining mortgage pre-approval with verified financial documents; and exploring suitable loan programs like FHA, VA, or USDA loans. Shopping around and considering assistance programs can also make…

Choosing the right mortgage lender involves understanding your financial situation, including credit score and budget. Research various lenders like banks, credit unions, brokers, and online options to find the best fit. Compare interest rates, loan terms, and customer service. Get preapproved by multiple lenders to strengthen your position. Avoid lenders with poor transparency or pressure…

Self-employed homebuyers can secure loans but must provide more documentation, such as two years of tax returns, profit and loss statements, and IRS Form 4506-T. Maintaining a good credit score and separating business from personal finances is crucial. Business write-offs that reduce reported income may affect mortgage qualification. With proper planning and organization, self-employed individuals…

Refinancing a mortgage involves replacing an existing loan with a new one, often to secure a lower interest rate, shorten the loan term, or access home equity. Key considerations include motivation, length of stay, interest rate changes, available equity, and closing costs. The process requires financial documentation, home appraisal, and closing paperwork. Benefits include potential…

Paying off a mortgage early reduces interest costs and loan term. Key strategies include securing a low rate, making extra payments, understanding prepayment limits, prioritizing emergency savings and high-interest debt, and considering refinancing or recasting. Automating payments aids consistency. Continue to full article