Interest Rates and Ratewatch - January 2022

The Bank of Canada announced this morning that they would leave the prime rate alone for another 8 weeks

Fixed rates are heading up

If you're looking to buy a home, nows a good time to buy and lock in the low rates.
If you have a variable rate mortgage and you are working the plan of using accelerated payments and annual pre-payments, you are still going to be ahead of the game in the long run. If you are working this plan on your variable rate mortgage, keep up the good work. If you can't make those extra payments, then now may be a time to consider converting back to a fixed-term while rates are still under 3%.

The current real estate market

Throughout this Pandemic, the one area that has not suffered is real estate. We have seen an upswing on-demand in Alberta. We are in a seller's market once again in Alberta. It has been over a decade since we could say this. Folks are tired of living in a small space all the time. They are demanding more room and this has helped drive the housing market across the country. It is expected that this demand will continue in Alberta as Alberta's market is still affordable and many people are looking to move to an area where they can buy a home and make a good life for their families. I except the Calgary market will remain strong in 2022, however we will rely on suply increasing.

Rates are still low

Interest rates are still low, in the high 2% range.
The Bond market is rising and that will lead to higher fixed rates throughout 2022. We will continue to see interest rates climb in 2022. We have already seen 5 fixed rate increases since October of 2021. This is expected to continue into 2023.

Current Rates

TERM RATE

1 Year 2.54% Ins. 2.59% Conv.
2 Year 2.54% Ins. 2.79% Conv.
3 Year 2.59% Ins. 2.79% Conv.
4 Year 2.69% Ins 2.84% Conv.
5 Year  2.69% Ins. 2.94% Conv. 
7 Year 3.14% Ins 3.14% Conv
10 Year 3.40% Ins. 3.40% Conv

Variable Rates

Prime - .70% to 1.10%

The Bank of Canada Prime Rate remains at 2.45%

Read More the full report from the Bank of Canada here

Thinking of buying or selling your home? We can help.
We offer no-obligation, complimentary, home evaluations.

Phone(403) 270-7601

Email[email protected]

Address Ray Riley
#115 8820 Blackfoot Trail SE
Calgary, AB T2J 3J1

Included below are a list of Homes for Sale in Calgary, Alberta

3398 Properties
Page 1 of 284
$1,199,000
Neighbourhood: Evergreen
4
Beds
3F11/2
Baths
2,960
Sq.Ft.
2009
Year Built
1
Day on Site
A2135076
MLS®
Open 5/25
910 18 Ave SW #304 Calgary,  AB T2R 0H1
$375,000
Neighbourhood: Lower Mount Royal
2
Beds
1
Baths
824
Sq.Ft.
2005
Year Built
1
Day on Site
A2135229
MLS®
$540,000
Neighbourhood: Cranston
2
Beds
2F11/2
Baths
1,237
Sq.Ft.
2001
Year Built
1
Day on Site
A2135248
MLS®
$349,900
Neighbourhood: Rocky Ridge
2
Beds
2
Baths
835
Sq.Ft.
2004
Year Built
1
Day on Site
A2134974
MLS®
Open 5/25
522 Cranford Dr SE #5209 Calgary,  AB T3M 2L7
$389,900
Neighbourhood: Cranston
2
Beds
2
Baths
830
Sq.Ft.
2015
Year Built
1
Day on Site
A2134475
MLS®
$645,000
Neighbourhood: Marlborough
5
Beds
2
Baths
972
Sq.Ft.
1971
Year Built
1
Day on Site
A2135043
MLS®
$509,900
Neighbourhood: Pineridge
3
Beds
2
Baths
825
Sq.Ft.
1978
Year Built
1
Day on Site
A2134684
MLS®
$568,600
Neighbourhood: Somerset
3
Beds
1
Baths
1,029
Sq.Ft.
1999
Year Built
1
Day on Site
A2135217
MLS®
$979,900
Neighbourhood: Walden
4
Beds
3F11/2
Baths
2,093
Sq.Ft.
2016
Year Built
1
Day on Site
A2134892
MLS®
$789,900
Neighbourhood: Hotchkiss
4
Beds
2F11/2
Baths
2,413
Sq.Ft.
2024
Year Built
1
Day on Site
A2134324
MLS®
$399,900
Neighbourhood: Shaganappi
2
Beds
2
Baths
743
Sq.Ft.
2016
Year Built
1
Day on Site
A2134914
MLS®
Open 5/25
1709 19 Ave SW #402 Calgary,  AB T2T 0J5
$224,900
Neighbourhood: Bankview
1
Beds
1
Baths
455
Sq.Ft.
1969
Year Built
1
Day on Site
A2135273
MLS®

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