The interest rate increase is expected to deal another blow to Calgarians looking to purchase a home or renew their mortgage. yyc
Calgary homeowners and prospective buyers are expected to feel another increase to the benchmark interest rate by the Bank of Canada, the tenth such increase in the last year and half.
“Doesn’t seem like a whole lot, $15 a month extra for every $100,000 borrowed,” Tran said. “But for some people it can be quite, quite challenging.”How the Bank of Canada’s decision affects Calgary’s food security Housing prices in Calgary are expected to remain steady for the foreseeable future, with demand outstripping a narrow supply.
“Certainly erodes affordability and prices are already up fairly significantly,” Albrescht said. “It reduces peoples buying power.” A challenge for Luis Sanchez, an international University of Calgary student who was placed on a waitlist for on-campus housing and had to look elsewhere with a limited budget.
Nearly half of Albertans surveyed in the report are also concerned about their current level of debt, with the debt becoming too much for others.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Environment Canada lifts heat warning for Calgary - Calgary | Globalnews.caEnvironment Canada first issued the heat warning for Calgary and Rocky View County on Saturday, saying daytime highs during the weekend were expected to reach 30 degrees Celsius.
Read more »
University of Calgary Students’ Union pushes for affordable housing as rents rise - Calgary | Globalnews.caIn a release issued Tuesday morning, the union said many students are living in unsafe spaces and even in their cars because rent is unaffordable. yyc
Read more »
Mounties seize guns, cannabis, illegal tobacco near Calgary - Calgary | Globalnews.caAccording to a Tuesday evening release, officers executed a search warrant at around 10 a.m. on Monday at a rural road on Glenmore View Road.
Read more »
Calgary-area family celebrates 75 years of running ice cream shop - Calgary | Globalnews.caCone-gratulations! MacKay’s Ice Cream is holding an official event from noon to 4 p.m. on Sunday July 30. yyc
Read more »
Business leaders optimistic about Calgary Stampede’s economic impact - Calgary | Globalnews.caAmid the rodeo, the midway and other western parties happening across the city this week, local business leaders are touting the unique opportunity the Calgary Stampede provides to attract new investment. YYC
Read more »