Further interest rate rises may or may not be on the cards in 2017 with no expert consensus as yet. Following the increase on July 12, Bank of Canada governor Stephen Poloz said that further rates would depend on data. The latest retail figures, released by StatsCan last week along with rising inflation have some calling for another rate rise before 2017 ends. TD Securities' Fred Demers told Bloomberg that an interest rate hike in October 'is a very likely scenario," while Benjamin Reitzes of BMO Capital Markets added: "October is still a very reasonable call for the bank." CIBC economist Avery Shenfeld is…

Rebuilding efforts in Fort McMurray, Alta., are running ahead of expectations, with reconstruction underway on one-third of the homes destroyed in last year’s wildfire, according to Canada Mortgage and Housing Corp. In a report Thursday, the federal agency said the rebuilding of 844 housing units has started and that number is expected to rise to about 1,000 this year. It said 122 of the projects were started last year and 722 in the first half of this year. CHMC market analyst Tim Gensey said the agency underestimated how many construction workers would come to Fort McMurray when it suggested last December only…

Alberta's recreational property values, particularly those near Edmonton and Calgary are on the rise a new market report says.

According to the 2017 Royal LePage Canadian Recreational House Report, recreational properties near the two cities have begun to see their markets turn a corner with slight year over year prices increase so far in 2017.

Average regional prices in Alberta include:

• Pigeon Lake: $450K for lakefront / $315K for woodland cabin / $236K resort/condo
• Wabamum Lake and Lac St. Anne: $516K for lakefront/ $242K for woodland cabin
• Sylvan Lake:  $1M for lakefront property
• Pine Lake: $600K for lakefront property
• Canmore: $2.75M for riverside property / $790K for resort/condo property

 

Edmonton Journal 06/20/2017