Support local this Christmas

There are many ways to show support in your community over the holidays, shopping locally helps smaller business grow. Many merchants have unique items and traditional items and they work very hard to supply the best products they can.

As the seasons turn to the warm weather of summer, it is time to pull out the bikes and go for a ride. After you bike has been sitting in storage all winter, what is the best way to get it ready to ride again? Some basic steps can be done at home and some steps will need some professional attention. To start with do the following: Wash your bike Check the chain condition and replace it if needed Check the brakes for deterioration and replace pads if they are too thin. Adjust the brake levers as needed to ensure they are working property.…

JUST ANNOUNCED* that the mortgage qualifying rate, more commonly known as the stress test, is confirmed to be INCREASING as of JUNE 1. The change, comes in on both conventional-uninsured mortgages (20%+ down with no mortgage default insurance) AND insured mortgages, where down payment is less than 20%. The new qualifying rate is 5.25% and could takes effect June 1, 2021. This equates to roughly a 5% decrease in purchasing power. (ex. $500k mortgage down to $475k) Our professional association (Mortgage Professionals Canada), continues to lobby the government opposing changes, putting downward pressure on Canadians ability to purchase homes.

There are a few ways to find local food trucks. Start by asking your friends which is their favourite and where to find them. Some resources that is helpful to find food trucks are:

As part of the mortgage and real estate processes, there’s a lot of confusion around the differences between the deposit and the down payment. It's important to understand what sets them apart so you don’t get confused when it’s time to secure financing on a property once you have an accepted offer.

As property prices continue to rise across Canada, the conversation around "how to climb the property ladder" has made a subtle shift to "how to get on the property ladder in the first place." Especially if you're single. Whereas before it was assumed anyone would qualify to buy a starter home (or condo), nowadays with increased housing prices and the government making it tougher to qualify for a mortgage through a financial stress test, becoming a homeowner isn't a walk in the park. Qualifying for a mortgage on a single income is becoming increasingly difficult.

Original Article Source Credits:  EdmontonJournal , https://edmontonjournal.com/

Article Written By:  Laura Severs

Original Article Posted on:  April 22, 2021

Link to Original Article:  https://edmontonjournal.com/special-sections/build-design-yeg/pandemic-means-new-home-buyers-are-tailoring-homes-to-their-perfect-fit