Gurdial Singh - Calgary, Airdrie, Cochrane Realestate Agent

What does the Intrest Rate drop of 0.25% means to Homeowners?

If you're a homeowner with a variable-rate mortgage, today’s interest rate announcement brings good news. Depending on whether you have an adjustable-rate or a static-rate mortgage, your interest will decrease by 0.25%. For those with an adjustable-rate mortgage, this reduction will result in lower monthly payments. If you have a static variable-rate mortgage with a fixed payment, you might actually start paying down more of your principal loan amount again. However, if you have a fixed-rate mortgage, this interest rate change will not affect you at all. This decrease in prime rate will result in payment reduction of approximately $15 per $100,000 borrowed for those in a variable rate mortgage.

The Bank of Canada today reduced its target for the overnight rate to 4¾%, with the Bank Rate at 5% and the deposit rate at 4¾%.

Exciting news for first-time home buyers in Canada! Starting August 1st, 2024, first-time buyers can choose a 30-year amortization for new homes. This means more payment flexibility and potentially qualifying for a higher purchase price.

ARE YOU FIRST TIME HOME BUYER .. CALL US WE CAN HELP YOU TO BUY YOUR DREAM HOUSE .

Gurdial Singh - Calgary, Airdrie, Cochrane Realestate Agent now takes appointments on their Page.

Check out some of the announcements made by Global leaders this year for Market:

--> says it plans to open a second cloud-computing server hub in Canada in late 2023 that will result in billions of dollars of investments in the coming years.

--> announced a strategic partnership with the University of Calgary and the Government of Alberta on Wednesday. The company will build their Canadian headquarters in Calgary, creating 500 to 1,000 jobs over the next 24 months.

--> : Global tech firm reveals plan to bring up to 1,000 jobs, Canadian HQ to Calgary.

--> bringing 300 tech jobs to new Calgary innovation hub

--> Multinational tech giant to bring 500 jobs to Calgary

--> UK-based global software technology consultancy Test Driven Solutions Ltd. is bringing its Canadian headquarters to Calgary as the company expands into North America.

Its still great time to invest in Real Estate, or sell and diversify some of your investments if you have multiple properties.

Call me today, to get the best value in return on your investments.

403-479-9689

Gurdial Singh

Gurdial Singh - Calgary, Airdrie, Cochrane Realestate Agent updated their phone number.

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