June 2012

Found 2 blog entries for June 2012.

Thinking of buying or selling your home?  New mortgage rules are coming into effect on July 9, 2012 which will impact consumer purchasing power when buying a home.

- no more 30 year mortgages, now down to 25 years for insured mortgages

- limit refinancing loans to 80% of the value of a home, from current 85%

To read more about the changes go to: http://m.theglobeandmail.com/report-on-business/economy/housing/flaherty-clamps-down-on-mortgage-rules-to-cool-overheating-market/article4359232/?service=mobile

If you have any questions about the current real estate market in Edmonton & surrounding areas, give us a call at (780)982-5233 or (780)995-9703.

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Home buyers in Edmonton are facing one of the most affordable markets in Canada according to a recent RBC market survey. That is confirmed by month end figures released by the REALTORS® Association of Edmonton for residential property sold in May through the Multiple Listing Service® System. RBC reported that the housing affordability index for Edmonton was just 32.4% of a typical household income. Increases in the affordability index in other parts of the country are influenced by higher real estate prices.

“While housing prices are higher in Edmonton than last month, they are inching up in manageable increments,” said REALTORS® Association of Edmonton President Doug Singleton. “The total amount a home buyer has available for a home purchase is based

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