I have sold a property at 452 Rainbow Falls DR in CHESTERMERE.
Exceptionally built & stunning brand new custom Brownstone by Lionsworthe Homes in popular Rainbow Falls will "WOW" you. This last end unit is an elegant 2 storey with open concept floor plan offering every upgrade and is truly impressive. From the beautiful brick exterior & gorgeous entrance way to the solid maple hardwood flooring throughout main, no detail is spared. Main floor offers 9ft knock down ceilings, wonderfully appointed kitchen with granite counter tops & island, glass backsplash & Samsung stainless steel appliances. The spacious living and dining room offer plenty of space to host family & friends. Upstairs you'll find a large master suite with full ensuite bath, as well as two other large bedrooms & full bath. This functional plan offers granite counters and Moen fixtures throughout, high efficiency furnace & hot water tank, full window covering package, and an amazing landscaped yard, patio & double detached garage. Walking distance to schools, parks and nearby amenities. Don't miss out!

August 21, 2013

Rates Rise Again. No Housing Threat Yet

Courtesy -  CMT, Canadian Mortgage Trends 

By: Rob McLister, Editor CMT

Fixed mortgage rates have been on a steady ascent since bond yields blasted off in May. Now, the major banks are jacking up rates again.


Most of the Big 6 are lifting their “Special offer” 5-year fixed mortgages to 3.79% or 3.89%, a 20 basis point hike.

From that, typical well-qualified borrowers can expect at least 20 bps“discretion” (i.e., actual rates of 3.59% to 3.69%). If you know how to haggle, you might do even better.


Royal Bank also announced a 20 bps hike in its 5-year posted rate, which rises to 5.34% on Thursday. If a few more banks follow RBC’s lead, the benchmark qualifying rate will rise accordingly. That would mark the first increase in the benchmark rate in more than 500 days(since April 2012).

A higher benchmark rate makes it tougher to qualify for a variable, HELOC or 1- to 4-year fixed term. (Mind you, one 20 bps hike is not as impactful as dramatized headlines like this suggest.)

A 20 bps jump in the qualifying rate means a household at the edge of affordability would need ~$1,100 more income to get a variable-rate mortgage on a $300,000 house with 5% down.*

Looking back to May 1, 2013 is more telling. Since then, a 5-year fixed mortgage payment on that same $300,000 house has risen about $120 a month to ~$1,475. That kind of payment change is a potential source of financial “difficulty” for less than 1 in 10 mortgage holders—if past CAAMP surveys are a guide. Note that "difficulty" does not imply default.

Naturally, all these incremental rate hikes can add up and decelerate home sales. But based on past consumer surveys, it could take a good point and a half rate-bump to curtail buying decisions in meaningful ways. At the moment, we’re only halfway there.

* Note: The benchmark rate has little effect on someone choosing a fixed term of five years or more. That person’s ability to qualify is instead dependent on the actual rate they pay (a.k.a.  the “contract rate”).
Rob McLister, CMT


I have sold a property at 4 140 ROCKYLEDGE VIEW NW in CALGARY.
This gorgeous townhouse boasts a modern open concept layout with functional indoor outdoor living. Fantastic front patio provides views, space to entertain and room for the BBQ with gas hookup. Spacious & open foyer provides a welcoming space as you enter this immaculate home. Large kitchen with maple shaker cabinets, stainless appliances & breakfast bar over look the living room, dining room and views to the outdoors. Fantastic flow through this home provides lots of natural light and great living space. Down the hall is your in-suite laundry, storage, and gorgeous 4pc bath. Through to the master suite you'll find a large bedroom with walk-in closet & access to your rear covered patio and open green space. Amazing in-floor heat, floor to ceiling windows and full exercise and fitness room make this property truly amazing. Access to your titled underground parking & titled storage locker adds to your convenient lifestyle. Close to all amenities, schools, pathways, shopping, new LRT, and access to downtown!

Bring on the Games!!!

The fourth annual Foothills Highland Games will be held on Saturday, Aug. 24 at Foothills Composite High School and Howard Park. 2013 will mark the fourth annual event hosting over 3000 spectators and over 350 competitors battiling it our in various events and competitions. The event will include Highland dance competitions, piping and drumming, the Quigley Electric heavy events, various vendors, beer garden, musical entertainment, trick dogs, a children’s play area, and the Okotoks Rentals/Natural High Tug of War.

Gates open at 7 a.m. with competitions beginning at 8 a.m. The opening ceremonies will be at 12:30 p.m. and the mass bands will be at 4 p.m. The semi-final and final tug of war will follow the mass bands. 

There will be a variety of entertainment in the ceilidh tent throughout the day including musicians, Irish dancers and Scottish country dancers. The Ceilidh, featuring Fraid Knot, will go from 6 p.m. to 11 p.m. 

For more information see

Gates will open at 7AM

Games Admission:
$10 Per Person
Ages 6 and under are free!
$25 Family Pass (family of 4)

Ceilidh Admission:
$10 Adults and Children Age 12+
*Daytime entertainment is included with Games Admission. Entry to the Ceilidh Tent after 5PM requires a Ceilidh ticket.

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