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The Mortgage Force Team Edmonton -Dominion Lending Centres Mortgage Force
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Edmonton will be starting a 5 week pilot program this fall for new driver-less public transport vehicles. Calgary has already stated it's own similar pilot. It will be interesting to see the level of consumer confidence behind this initiative, and the results from the study.

https://www.thestar.com/edmonton/2018/09/11/edmonton-braces-for-a-driverless-vehicle-pilot-program-this-fall.html
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Downtown Edmonton's real estate market continues to strengthen with vacancy rates coming close to what we saw before the provincial recession.





https://edmontonjournal.com/business/commercial-real-estate/tech-companies-boosting-growth-in-vibrant-downtown-edmonton
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Only 5 days left to register for this amazing seminar!


https://buyinedmonton.eventbrite.ca
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Another rate hike announcement today. Prime to increase by .25% to 3.45% with most lenders. We can also expect fixed rates to rise in the next few days, as well as the Bank of Canada "stress test" rate. Have any questions about how this will effect your current or future mortgage? Lets chat! 780-466-9898

http://www.cbc.ca/beta/news/business/bank-of-canada-rate-decision-1.4490918
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The Federal government has introduced yet another "stress test" which applies to all borrowers putting down a 20% down payment or more. As of January 1st 2018, All applicant will now have to qualify as if their mortgage rate was 2% higher than the rate they are actually receiving. As we saw with the mortgage rule changes in October or 2016, this will greatly reduce the buying power of Canadians by up to 20%. At this point in time, these new rules will apply to all federally governed financial institutions. It is unclear whether or not provincial financial institutions (ATB, Servus, Etc) will follow suit. Please feel free to reach out if you have any questions.
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The new proposed mortgage rules will further inhibit buying power of Canadians.
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