My Mortgage Blog

I don't know about you, but I'm seeing signs of a strengthening Calgary Fall Real Estate Market.

Sales were up in August and early on in the month, September is looking even stronger. I feel consumer confidence is stronger than it has been in years, and the market is reflecting that.

Increased sales along with declines in inventory are moving the market towards more balanced conditions. Could we have seen the bottom of the market? That's what it's looking like.

To help fuel the market, rates have remained low. On Wednesday the Bank of Canada (BoC) held interest rates steady, as expected. They also made no mention of future moves. "The current level of stimulus remained appropriate", the BoC said, and reiterated that the pace of economic growth in Canada would slow down in the second half of the year.

Trade wars continue to weigh on the Global economy, including here at home. So, we can expect the status quo for interest rates in the short-term.

Talking about the next rate announcement on Oct 30, the BoC said it would “pay particular attention to global developments and their impact on Canadian growth and inflation.”

Check out this CTV News article for more coverage on the Bank of Canada announcement.

I hope you're seeing positive results in your business as we enter the fall market for Calgary Real Estate!