2013: A year in review + 2014 predictions

It was a bit of a mixed bag last year - we experienced low 5 year rates around 2.99%, until yield rates began to rise and the Government decided to slow things down, with tightening mortgage guidelines.

What will 2014 bring? We think it will be a successful housing year. The mortgage rates are still historically low and we are sure they will stay historically low. Employment is high, wages are increasing in Edmonton, all of which contribute to an applicant's ability to qualify for a mortgage.

And....Perhaps MOST importantly....rental rates are skyrocketing (and rental vacancies are at an all-time low - near zero percent!). With high monthly rents and limited availability, we believe more renters will be purchasing (perhaps now more than ever). If you need assistance with a purchase, let us know!

Cheers to a great 2014!
The Bob Hanscom Mortgage Agency