When the overnight rate is increased, it becomes more expensive to borrow money. The increased costs of borrowing money are shifted from the bank onto the consumer by increasing the Prime Rate.

Pre-Approvals are likely to decrease.

Fixed-Rate Mortgages remain the same.

Adjustable Rate Mortgages will increase according to the new Prime Rate minus your discount. (Expect information in the mail).

Static Variable Mortgages payments remain the same but a portion of interest paid to the lender will change.

Reach out with your questions anytime. I can introduce you to a mortgage broker who would be happy to go over your options with you and help you find a mortgage that you're most comfortable with.

Jason Streich⁠
Greater Calgary Real Estate⁠
403 807 2204⁠
jstriech@shaw.ca⁠ 

During this time of year, our thoughts are filled with gratitude for those who have supported us in our personal lives and careers. Here are some ideas on how to host an event that extends that gratitude to helping others in need.⁠
⁠
Jason Streich⁠
Greater Calgary Real Estate⁠
403 807 2204⁠
jstriech@shaw.ca⁠

WATCH VIDEO

The strong sales for both condominium apartment and row properties was not enough to offset the declines reported for other property types. City sales eased by nearly 12% compared to last year. ⁠With 1,901 sales in September, activity is still far stronger than levels prior to the pandemic and is well above long-term trends for September. ⁠With recent pullbacks in sales and thanks to strong levels earlier in the year, year-to-date sales remain 15% higher than last year’s levels. ⁠
⁠
In September, new listings declined by 10%. With a sales-to-new-listings ratio of 72% it was enough to prevent any gain in inventory levels, which declined over last month and were nearly 21% lower than last year’s levels. ⁠The adjustments in both sales and supply levels have caused the months of supply to remain relatively low at less than three months and the shift to more balanced conditions is causing some adjustments to home prices. ⁠
⁠
While prices have slid from the highs seen in May, as of September, benchmark prices remain 11% higher than last year and 6% higher than levels reported at the beginning of the year.⁠

Jason Streich⁠
Greater Calgary Real Estate⁠
403 807 2204⁠
jstriech@shaw.ca⁠

Read Full CREB Market Report⁠
Home Evaluation Form
Search for your home today 

I hope you and your family had an amazingThanksgiving. Here's to the best in the coming year. Thank you to those of you who stopped by our Thanksgiving Pie Pick Up event on Saturday. It was a success and great to see all of your smiling faces + want to say a HUGE THANK YOU to all of our sponsors!

I'm appreciative of all of your trust when it comes to buying or selling real estate and I can never thank you enough. If questions arise regarding buying or selling, just remember I'm just a phone call away.⁠

Jason Streich⁠

Online shopping can be easy and fun. But unfortunately, there are many scammers who want to steal your identity and your money. The information here provides tips on ways you can protect your personal information and your finances when shopping online.

Jason Streich⁠
Greater Calgary Real Estate⁠
403 807 2204⁠
jstriech@shaw.ca⁠

Did you hear the news? The BoC increased the overnight lending rate by 0.75%, which is another increase for the 5th time in a row. The Prime rate is expected to increase by 0.75% to 5.45% and Variable rate mortgages will increase by 0.75%.⁠

The Bank’s committed to price stability and will continue to do what is required to achieve a 2% inflation target. As the effects of monetary tightening work their way through the economy, the BoC will assess how much higher interest rates need to go to return inflation to its target. The current inflation rate is measured at 7.6% decreasing from 8.1% in the previous month.⁠

The next announcement is scheduled for October 26th and there's certainly hope that October will be more positive.⁠
⁠
Jason Streich⁠
Greater Calgary Real Estate⁠
403 807 2204⁠
jstriech@shaw.ca⁠

August sales are comparable to the strong levels recorded last year and well above long-term trends for the month. While sales have remained relatively strong, there still a shift towards more affordable options as the year-over-year pullback in detached sales was nearly matched by gains for multi-family product types.⁠

New listings continue to trend down, preventing any supply gains or a substantial shift in the months of supply. Despite year-over-year gains in new listings, the spread between new listings and sales this month narrowed compared to the past three months. ⁠

This caused total inventory to trend down and prevented any significant shift in the months of supply. The months of supply in August remained at just above two months, not at tight as earlier in the year, but still below levels traditionally seen this time of year.⁠

For the third month in a row, benchmark prices eased declining to $531,800. While the reduction reflects shifting market conditions, it is important to note that previous gains are not lost, and prices remain over 11% higher than last year.⁠

Jason Streich⁠
Greater Calgary Real Estate⁠
403 807 2204⁠
jstriech@shaw.ca⁠

Read Full CREB Market Report⁠ 
Home Evaluation Form
Search for your home today 

Calgary housing sales totalled 18,694 units in the first half of 2022, with sales in the second quarter nearly matching the record high pace set in the first quarter of the year. 

This is NO surprise with eager consumers wanting to get into the market with low pre-approval rates. New listings struggled to keep pace leaving inventories relatively low and the months of supply relatively tight. This caused prices to trend up in the second quarter relative to both the previous quarter and year.

July saw a 1% increase from the Bank Of Canada. After 4 consecutive rate increases, the overnight lending rate has jumped to 2.5% and pushed mortgage rates up to their highest levels in over a decade. The lending rate increases have impacted home sales and are expected to weigh on sales over the second half of the year, offsetting some of the strong gains reported over the first half of the year. 

Supply adjustments in the market have been slow however, the pullback in demand is expected to help support more balanced conditions. With market conditions easing and a higher cost of borrowing, prices are expected to trend down in the second half of the year, offsetting some of the stronger than expected gains in the first half of the year. 

Despite the pullbacks, we anticipate that the annual benchmark price will remain higher than levels reported last year.


Click here to read more! Contact me with your questions!

Jason Streich⁠ 
Greater Calgary Real Estate⁠ 
403 807 2204⁠ 
jstriech@shaw.ca⁠

Having to evacuate your house suddenly for an emergency can be terrifying. The information here provides tips to help you to prepare ahead of time so you will be able to grab what you need and go.⁠

Jason Streich⁠
Greater Calgary Real Estate⁠
403 807 2204⁠
jstriech@shaw.ca⁠

WATCH VIDEO

Devices that use smart home technology can make your life easier but there are also certain risks. The information below provides some tips on how to keep your devices secure.

Jason Streich⁠
Greater Calgary Real Estate⁠
403 807 2204⁠
jstriech@shaw.ca⁠

SOLD!!!
⁠
376 Point McKay Gardens NW, Calgary, AB⁠
MLS#: A1200702⁠
⁠
Listed at $685,000 | Sold for $715,000

Congrats to Laura and Tequa on setting a new record for Point McKay!⁠

⁠Jason Streich⁠
Greater Calgary Real Estate⁠
403 807 2204⁠
jstriech@shaw.ca⁠

Home Evaluation Form 

Tax season can be a stressful time! To help make it easy and error-free, check out this information for some common tax-filing mistakes to avoid. You’ll feel confident and ready when it’s time to file!⁠