Interest Rates and Ratewatch - January 2022
Posted by Ray Riley on Wednesday, January 26, 2022 at 12:32 PM
By Ray Riley / January 26, 2022
Comment
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%.
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 |
Included below are a list of Homes for Sale in Calgary, Alberta
$679,900
Neighbourhood:
Skyview Ranch
3
Beds
2F11/2
Baths
1,796
Sq.Ft.
2013
Year Built
1
Day on Site
A2095456
MLS®
$579,900
Neighbourhood:
Evergreen
4
Beds
1F11/2
Baths
1,173
Sq.Ft.
2007
Year Built
1
Day on Site
A2094449
MLS®
$589,500
Neighbourhood:
Tuscany
3
Beds
2F11/2
Baths
1,305
Sq.Ft.
2002
Year Built
1
Day on Site
A2094880
MLS®
Open 12/2
$529,900
Neighbourhood:
Mckenzie Towne
3
Beds
2F11/2
Baths
1,346
Sq.Ft.
2005
Year Built
1
Day on Site
A2095048
MLS®
$379,900
Neighbourhood:
Garrison Woods
1
Beds
1
Baths
766
Sq.Ft.
1999
Year Built
1
Day on Site
A2095441
MLS®
$809,900
Neighbourhood:
Sage Hill
3
Beds
3F11/2
Baths
2,119
Sq.Ft.
2019
Year Built
1
Day on Site
A2095340
MLS®
Open 12/3
$1,985,000
Neighbourhood:
Altadore
4
Beds
4F11/2
Baths
3,372
Sq.Ft.
2014
Year Built
1
Day on Site
A2095425
MLS®
$895,000
Neighbourhood:
Douglasdale/Glen
5
Beds
3F11/2
Baths
2,635
Sq.Ft.
1997
Year Built
1
Day on Site
A2095409
MLS®
$1,225,000
Neighbourhood:
Capitol Hill
4
Beds
4F11/2
Baths
2,512
Sq.Ft.
2023
Year Built
1
Day on Site
A2095477
MLS®
$249,900
Neighbourhood:
Signal Hill
2
Beds
2
Baths
966
Sq.Ft.
1996
Year Built
1
Day on Site
A2094965
MLS®
Open 12/2
$649,900
Neighbourhood:
Crestmont
5
Beds
3F11/2
Baths
1,915
Sq.Ft.
2001
Year Built
1
Day on Site
A2095424
MLS®
Post a Comment