Real Estate blog Calgary


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by Stewart J Lowe & Associates


Many people spend years dreaming about building a custom home – from sketching where their bathrooms will be located to driving past hundreds of brick homes looking for just the right colour of red or brown brick. These dreams are part of what makes home ownership so special, and it adds to the excitement when you are able to build a home to your specifications that will meet your needs exactly.‚Äč

Melissa Legault | Mortgage Advisor - Jencor Mortgage
Cell: 403-862-6909 | Fax: 1-866-890-8567 | Email:
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Good news for brokers and homebuyers - Justin da Rosa

by Stewart J Lowe & Associates

Apr 15, 2016

Broker channel economist: Record-low interest rates are here to stay and the economy is stronger than you think.

“So you want to know where interest rates are headed then listen to the Bank of Canada – and it’s saying no interest rate hike in 2016. There’s no need for one,” Michael Campbell, Verico’s economist, wrote in his latest economic report, which was obtained by “There’s no inflationary pressure or demand pressure implying a rate hike. Our manufacturing sector may be recovering but it’s not expanding – hence no upward pressure on rates.”

That’s good news for broker and, indeed, homebuyers; inexpensive mortgages were one of the driving factors that made 2015 one of the best year on record for many industry players.

According to Campbell, the Bank of Canada recognizes the stimulation the low looney has had on the economy and will be in no hurry to thrust the dollar higher by increasing interest rates.

“The bottom line is that The Bank of Canada doesn’t want a stronger dollar until our recovery becomes more secure, especially given the precarious global economic environment,” Campell wrote. “I suspect that in both the States and Canada the central bankers are far more concerned about a global shock impacting their respective economies than anything domestic.”

Also in the report, Campbell shared his bullish outlook for the economy – which is being driven by Vancouver and Toronto.

“The overall economy led by Greater Vancouver and Toronto is far stronger than most people realize,” Campbell wrote. “The only serious trouble spots in Canada are those regions impacted by the massive drop in resource prices – especially oil producing provinces. 

“But even in Alberta things may be improving if the 19,000 jobs created in March is not just a one off event.”

Qualifying for a Mortgage as a Self-Employed Applicant.-Al Nenshi

by Stewart J Lowe & Associates

Qualifying for a Mortgage as a Self-Employed Applicant.

If you are self-employed, you can still qualify to buy a house, but it can be a bit trickier as most lenders will require a track record of consistent income. READ MORE The standard is a two year average of your net taxable income. Lenders do recognize that many self-employed individuals will make legitimate tax deductions in order to reduce their taxable income. If you don’t pay taxes on the income, the lenders will most likely not accept anymore then the net declared income.

If you’re self-employed and show a HIGH net income, and can prove that you’re earning a healthy gross income, and that your deductions are limited to your field you’ll be good to go. Your income tax portion will not be brought down.

For example: If a net line 150 income was $98,000 in year one, and was $122,000 in year two the 2-year average is: $98,000 + $122,000 / 2 = $110,000
$110,000 is the number we use as the 2-year average of income.

Lower annual incomes will show different brackets of down payment requirements and financing options. A trained mortgage professional should be able to review your financial statements and find items that may be allowed to be ‘added back’ into your income. Call Al today!



by Stewart J Lowe & Associates

"No Frills" mortgages are bare bones products designed for one type of person:  someone who doesn’t want to pay for added flexibility!

No Frills products are also sometimes used as bait.  It’s no secret that low rates generate phone calls.  Once a customer is on the hook, he/she can then be up sold into a more profitable mortgage.  (That is how a small number of people–but by no means the majority–use them.)  Over time, our prediction is that you’ll see more and more mortgage sites advertising no frills rates for this reason.


The Calgary & Area Market At A Glance

by Stewart J Lowe & Associates

Calgary House Market

Anyone wondering about what 2016 will bring for the Canadian real estate market probably does not need to look any further than the recent headlines out of Toronto: Former Hells Angels clubhouse sells for well over asking.

The asking price was $649,900. Purchase price was $885,000. The building, in a gritty corner of the east end, has been abandoned since 2007.

More practically though, with the low loonie, the fast decline in oil prices and the slow growth of export industries, Canadian consumers – and in particular home buyers – are going to be key factors in the Canadian economy. The question is whether they'll be able keep things moving.

There is concern that debt laden consumers simply do not have the spending power left to the support the economy the way they have been for the past several years.

Another factor that could create concerns in Canada is China. Slowing growth there and the ongoing devaluation of the yuan will likely see investment moving to safe havens. Canadian real estate (particularly Vancouver) has traditionally been seen as very safe.

Rates are supposed to be moving up.  If you have Clients looking to buy, this may be a good time for them to make the move. 

I can pre-approve your Clients with the lower rates and am able to lock in this rate for a period of 90-120 days.

Please call me on my cell at 403-540-3000

Thank you.


Displaying blog entries 1-5 of 5




Contact Information

Photo of Stewart J. Lowe &  Associates Real Estate
Stewart J. Lowe & Associates
Real Estate Professionals Inc
202 5403 Crowchild Trail
Calgary AB T3B 4Z1
Direct: 403-850-0669
Fax: (403) 476-7608