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Monday, January 17, 2011 -

Effective March 18, 2011 Amortization change to max 30 Years on CMHC and GE mortgages, this will impact clients with less then 20% down payment Maximum 85% financing on refinances (equity take outs NOT on Purchases). Elimination of government insurance on lines of credit , this product was only available through one or two lenders, and it is important to note that HELOC?s (secured lines of credit) are still available up to 80%.
posted in General at Mon, 17 Jan 2011 12:55:05 -0700

Wednesday, January 12, 2011 -

The average price for a single family detached home in December was $355,270, down about $10,000 as compared to the price in November. The average condo price dropped less than $6,000 to $223,454. The marginal price reduction (down 0.45%) continued a SFD slide that started in June when average prices were over $390,000. Condo prices peaked at $252,700 in April and have continued a relentless march downward since then.The REALTORS® Association of Edmonton released month end and year end results ... Full Article...
posted in General at Wed, 12 Jan 2011 14:20:40 -0700

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