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
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We offer no-obligation, complimentary, home evaluations.
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Included below are a list of Homes for Sale in Calgary, Alberta
$989,900
Neighbourhood:
Parkdale
4
Beds
3F11/2
Baths
1,805
Sq.Ft.
2015
Year Built
1
Day on Site
A2026013
MLS®
CONTEMPORARY, ELEGANT, LUXURIOUS. Sensational living in the heart of Parkdale! Primely situated on a quiet tree-lined street, you'll find this Exceptional Custom Dream Home built by AWARD-WINNING...
$455,000
Neighbourhood:
Monterey Park
3
Beds
2
Baths
988
Sq.Ft.
1992
Year Built
1
Day on Site
A2035396
MLS®
Well kept bilevel features with vaulted ceiling', 3 good size bedrooms on the main floor and a fully developed walkout basement with separate entrance. There is also an exterior side door next to...
$269,000
Neighbourhood:
Tuxedo Park
1
Beds
1
Baths
657
Sq.Ft.
2017
Year Built
2
Days on Site
A2032181
MLS®
Located Super conveniently along Centre St. yet on the quiet side of this Concrete building, with #3 bus right at front door, and bank, shopping, all amenities nearby..... . this One-bedroom...
$225,000
Neighbourhood:
Mission
1
Beds
1
Baths
619
Sq.Ft.
1981
Year Built
2
Days on Site
A2034915
MLS®
This waterfront apartment has peek-a-boo River Views from the large and very private balcony. Galley style kitchen with granite counters, sit up bar, silgranite sink, and dishwasher. The open concept...
$616,000
Neighbourhood:
Dalhousie
5
Beds
3
Baths
1,070
Sq.Ft.
1969
Year Built
2
Days on Site
A2034970
MLS®
Fabulous Bi-Level with a walkup separate entrance suite located in the well-established Dalhousie community. This home provides a total of 5 bedrooms (3 up, 2 down) and 3 full bathrooms or an option...
$539,000
Neighbourhood:
Applewood Park
4
Beds
3
Baths
1,318
Sq.Ft.
1992
Year Built
2
Days on Site
A2035209
MLS®
A spacious bungalow (1318 sf) with double attached garage in the well-liked area of Applewood. 4 beds 3 baths. High vaulted ceiling entrance opens to a front living room. Adjacent to it is the...
$399,000
Neighbourhood:
Evanston
3
Beds
2F11/2
Baths
1,250
Sq.Ft.
2013
Year Built
2
Days on Site
A2035405
MLS®
This stunning 3-bedroom property in Evanston features a practical open-concept floor plan that is perfect for modern living. The unit has been updated and includes three bedrooms, additional full...
Open 4/1
$1,060,000
Neighbourhood:
Brentwood
7
Beds
6
Baths
1,357
Sq.Ft.
1960
Year Built
2
Days on Site
A2035225
MLS®
This property is an exceptional investment opportunity and a luxurious home all in one! Located on a quiet street in the highly sought-after Brentwood area, this modern and stunning property has...
$215,000
Neighbourhood:
Skyview Ranch
1
Beds
1
Baths
589
Sq.Ft.
2017
Year Built
2
Days on Site
A2034924
MLS®
Welcome to McCall Landing in the vibrant community of Skyview! This stunning TOP FLOOR 1 bedroom, 1 bathroom condo boasts a modern open layout and top-of-the-line finishes.
The kitchen...
The kitchen...
$1,650,000
Neighbourhood:
Lakeview
5
Beds
4F11/2
Baths
2,657
Sq.Ft.
1966
Year Built
2
Days on Site
A2035226
MLS®
Rare opportunity to buy into Lakeview Village! This is an amazing family house one block away from Jennie Elliot Elementary school. Fully renovated down to the studs in 2015. Custom layout and...
$819,900
Neighbourhood:
Cedarbrae
5
Beds
3F11/2
Baths
1,837
Sq.Ft.
1974
Year Built
2
Days on Site
A2035087
MLS®
Welcome home to 351 Cedarille Crescent SW. With the finishings and floorplan of a luxury home, you're going to immediately fall in love. The combination of modern touches with traditional elegance...
$299,900
Neighbourhood:
Panorama Hills
2
Beds
2
Baths
889
Sq.Ft.
2014
Year Built
2
Days on Site
A2035103
MLS®
Beautiful TOP floor condo with views of the city located in the community of Panorama. With almost 900sqft of living space this condo unit features 9ft ceilings, hardwood floors throughout most of...
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