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March 2014

Found 2 blog entries for March 2014.

 SALES GROWTH BOOSTED BY CONDOMINIUM ACTIVITY

The lack of choice in single family sector impacts sale growth in the city of Calgary.  Following double digit gains last month, sales growth in the city of Calgary totaled 1,854 units, or an 8.68 per cent increase over the same period in 2013. Slower sales growth resulted in a reduction of listings in the single family sector. However, single family sales still totalled 1,230 units, a 1.9 per cent increase over the previous year. The demand growth in the single family sector has been restricted by the availability of product. New listings in this sector fell for the second consecutive month, causing further tightening in an already undersupplied market.

Condominium sales continue to surge. After the first

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CMHC Raises Mortgage Premiums

People without a 20% down payment will be paying more to buy a house. Come May 1, the nation’s largest default insurer is bumping up its standard premiums by 0.10 to 0.40 percentage points. It's the first hike to homeowner insurance premiums since 1998.

Stated income applications will be charged even more.

For the average borrower with 5% down, that makes home buying $992 more expensive (plus interest if the premium is rolled into the mortgage, which it usually is).

The average CMHC insured mortgage at 95% loan-to-value was $248,000 in 2013. CMHC says this will raise that homeowner’s monthly payments by about $5. Not too agonizing.

The impact of this news is negligible unless you’re putting down less than 15%. At

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Re/Max, CREB Certified Condominium Specialist