The Bank of Canada has just announced a 0.25% decrease to its policy interest rate, bringing relief to borrowers across the country. But what does this mean for you if you’re looking to buy or sell a home in Canmore? Let’s break it down in simple terms.

How This Rate Drop Affects You

  • Lower Borrowing Costs – If you have a variable-rate mortgage or a home equity line of credit (HELOC), your interest rate will decrease, meaning lower monthly payments.
  • Fixed Mortgage Rates Remain Unchanged (For Now) – If you’re locked into a fixed-rate mortgage, this change does not impact your current rate. However, future fixed rates are influenced by bond yields, which may shift due to this rate drop.
  • Increased Buying Power – Lower interest rates mean lower…

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Bank of Canada Rate Cut: What It Means for Canmore Homebuyers

Bank of Canada Rate Cut: What It Means for Canmore Homebuyers

Published on January 30, 2025

Bank of Canada Cuts Interest Rate

On January 29, 2025, the Bank of Canada reduced its policy rate by 25 basis points, bringing it down to 3.00%.

This marks the latest in a series of rate cuts aimed at stimulating economic growth and improving housing affordability.

Impact on Borrowing Costs

With this rate cut, borrowing costs are expected to decline as banks adjust their prime lending rates. The prime rate is now projected to decrease to 5.2%, making financing more affordable.

For instance, a buyer purchasing a $1,200,000 home in Canmore with a 10% down payment could see…

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Your 2024 Canmore Real Estate Market Review

It's time to reflect on the exciting trends and achievements in Canmore's real estate market. Whether you're a longtime local, a first-time buyer, or someone looking for an investment property, this year offered plenty of insights and opportunities.

Let’s dive into the numbers and see what made 2024 a year to remember for real estate in Canmore!

Single Family Homes & Duplexes

The epitome of mountain living, single-family homes and duplexes are always a hot ticket in Canmore. This year, 91 properties were sold in this category, with an impressive average price of $1,892,071. These homes spent an average of 55 days on the market, reflecting a steady demand for these larger, more private spaces.

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Coldwell Banker Lifestyle Joins the Magic of the Rotary Club of Canmore’s Festival of Trees!

The holiday season is in full swing, and we’re thrilled to share some exciting news—Coldwell Banker Lifestyle is proudly part of the Rotary Club of Canmore’s Festival of Trees this year at the stunning Malcolm Hotel!

From decorating our tree to soaking in the festive spirit of this cherished community event, our team of REALTORS® has been fully immersed in the magic. If you haven’t experienced the Festival of Trees yet, let us be the first to say: don’t miss it—you have until December 31, 2024, to join in the fun!

Decorating Crew

Decorating Our Tree: A Labor of Love (and LAUGHTER!)

Our team had such an incredible time getting creative and decorating our…

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Coldwell Banker Lifestyle Expands with New Office in Canmore, Alberta

Honoring Local Heritage, Community-Focused Service, and the Global Legacy of Coldwell Banker

CANMORE, Alberta – Coldwell Banker Lifestyle, a family-operated real estate brokerage with deep roots in Cold Lake, Alberta, proudly announces its expansion into the Bow Valley with the opening of a new office in Canmore, Alberta. Through the recent acquisition of Coldwell Banker Rockies Realty in Canmore, the brokerage extends its commitment to providing exceptional real estate services at the heart of the Canadian Rockies.

With this expansion, Coldwell Banker Lifestyle brings together the local knowledge and expertise of Canmore’s experienced REALTORS® with the internationally…

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