Carlana Johnson

Hi, During this crazy time there are numerous families in need. Here is something that the banks are doing to help. Insurers (CMHC, Genwroth, and CG) already had programs in place with the banks/lenders that allowed them to capitalize up to 4 monthly payments. Today they announced that they will consider extending the program to allow up to 6 months of capitalization provided that: 1. Original insured loan amount is not exceeded... 2. Request to cap payments is received prior to Sept 13, 2020 3. Bank/lender confirms the capitalization is being applied reasonably to help mitigate short-term financial difficulty resulting from COVID-19. The insurers have several other default management tools available which include: payment deferral, loan re-amortization, and other special payment arrangements. All assistance options will be considered on a case by case basis. The programs are facilitated through the banks/lenders and therefore you should be directing your clients to contact their lender directly for further assistance. Some banks/lenders have their own assistance options as well. Here is a list of customer service numbers: ATB 1-800-332-8383 B2B 1 800 263 8349 BMO 1-877-895-3278 Bridgewater 1-866-243-4301 CIBC 1-800-465-2422 CMLS 1-888-995-2657 Optimum 1-866-441-3775 Equitable 1-888-334-3313 Connect First 403-736-4000 Chinook Financial 403-934-3358 First Calgary Financial 403-736-4000 First National 1-888-488-0794 Haventree 1-855-272-0051 Home Trust 1-855-270-3630 HSBC 1-888-310-4722 ICICI 1-888-424-2422 Manulife 1-877-765-2265 MCAP 1-800-265-2624 Merix 1-877-637-4911 Marathon 1-855-503-6060 National Bank 1-888-835-6281 RBC 1-866-809-5800 RFA 1-877-416-7873 RMG 1-866-809-5800 Scotia 1-800-472-6842 Servus 1-877-378-8728 Street Capital 1-866-683-8090 TD 1-866-222-3456 Do not hesitate to reach out if you have any questions. Thanks

There has been changing circumstances and numerous predictions of what will really happen this year. Some say two hikes, while others say there will be a decrease at the end of this year. Hold tight 2019 is going to be an interesting ride.

As expected bank of Canada raised their rate, banks will follow shortly. If you want more insight do not hesitate to contact me.

A discussion about mortgages with Realtor Robyn Moser.

As expected bank of Canada raised interest rates.

Looks like a rate hike is in the future sooner then expected. Fixed rates have already started to move.

Looks like rates will be holding steady for a few months at least. With the new mortgage policies coming in, I have a feeling home sales will slow along with the rest of the economy. Stay tuned.

Bank of Canada raised rates .25% today. Here is an article to explain how and if it would impact your mortgage.

Well it happened. Bank of Canada has finally raised their rate. Read this article to see how it will affect you.

Something to consider!

I am surprised that this has taken so long to come out. I worked for the bank back in the day and this was part of their culture back then. Banks are a business and are always trying to increase their revenue but they shouldn't do it at the expense of their customers or the health of their employees. I always try and do what is in the best interest of my clients and believe if I do that it will come back to me with referrals and karma.

This is the main reason I stopped working for the big bank. The sales staff are told to just hit targets and it is not about doing what is in the best interest of the clients. Being an independent mortgage adviser allows me to work for the client not the bank! Customers first.

This again will have an impact on interest rates as the lenders back end insure and this just increased their costs.

Something to consider.

Calgary Housing report

This will definitely impact the housing market.

This could make the market very interesting.

To any of my mortgage clients that have places in Fort McMurray. Most of the the great lenders that I work with and most likely placed you with have some assistant programs to help you with your mortgage. Please do not hesitate to contact me and I can point you in the right direction.

Interesting read.

Some budget planning!

Something to think about.

Here are the new guidelines.

This will be detrimental to many first time homebuyers in Alberta.

One of the most important things to getting a mortgage.

Hopefully they keep it this way.

I don't see interest rates going anywhere anytime soon.

Did not see this coming. Something clients need to prepare for when they hit the lawyers office.

This has been going on for months.

Alberta Real Estate Update 5614 homes for sale in metro Calgary 1281 homes sold in the last 30 days 4.38 months worth of inventory... 23% of the homes statistically to sell in the next 30 days Market Conditions: Buyers Average List Price : $473,315 Average Sale Price : $461,779 Average days on market : 35 Average list to sale price ratio : 97.6% 3781 homes for sale in metro Edmonton 751 homes sold in the last 30 days 5.03 months worth of inventory Market conditions : Buyers 20% of the homes statistically to sell in the next 30 days Average List Price : $372,796 Average Sale Price : $363,465 Average days on market : 42 Average list to sale price ratio : 97.5% Graph of Calgary activity for the last 7 days attached