Alberta Mortgage Rates

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About Alberta

More About: Living In Alberta

Alberta is one of the three prairie provinces and is the 4th most populous province in Canada, with a population of roughly 4.1 million. Here are some more fun facts about Alberta:

  • Edmonton is the Capital city of Alberta, with a population of about 1.3 million. Edmonton is home to the world's second largest festival, the Edmonton Fringe Festival, which takes place every summer
  • Alberta's economy is largely rooted in agriculture, forestry, oil and gas
  • Because of Alberta's prosperous economy and high quality of life, many Canadians have been flocking west in recent years in search of better employment opportunities
  • Alberta offers both bustling, metropolitan cities and serene wilderness – all within a short distance

5 Things You Need To Know About Buying In Alberta

  1. The average home price in Alberta is about $400,000 – that's just around the national average
  2. 2014 saw healthy growth for Alberta's real estate market. Home prices and sales were up year over year and are expected to continue to surge. Because of Alberta's strong economy, the province's housing market has been doing better than the rest of the country's
  3. Calgary's market is more expensive than the rest of the province, due to high demand and a growing population with an increased focus on higher end homes
  4. A healthy, growing housing market backed by a strong economy means Alberta is a prime sellers' market
  5. Mortgage interest rates are expected to increase, as Canadian exports, investments, job growth and incomes improve. Once the economy is back to a comfortable, healthy place, we should see mortgage rates start to rise

Frequently Asked Question: How does Alberta's economy impact the housing market?

A region's economy will always have a direct impact on the housing market. When an economy is strong, with good incomes and healthy employment levels, people are more willing and able to purchase properties. As demand for these properties increases, so in turn do the prices, which means that sellers are profiting from home sales, because their return is higher than their original investment. As such, there exists a very reciprocal relationship between the economy and the housing market. Alberta is a prime example of how a prosperous economy lends itself to a strong real estate market.

Alberta Housing Statistics

Alberta is Canada's strongest housing market right now. Its prosperous economy and growing population have meant positive gains in the real estate sector, and this growth is expected to continue through 2015.

Property Prices: Moderate Quality of Life Index: High
Cost of Living: High Traffic Index: High

Buying Property in Alberta – Important Links

Thinking of buying a home in Alberta? Here are some important links to help you learn more about the province and get you started on your mortgage journey in Alberta:

Get Alberta regional housing statistics from the Canada Mortgage and Housing Corporation.

Ever wonder what everyday items will cost you in Alberta? You can compare the cost of living across Canada and around the world here.

Are you new to Canada? Alberta is very ethnically diverse and has a number of resources available to immigrants, aimed at providing a solid foundation for new Canadians.

Health care varies from province to province. Find out all you need to know about the Alberta health care system and how to qualify for coverage here.

Get up to speed on provincial politics – learn more about the Alberta provincial government here.

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Blog: MoneyWise


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