ATB Economics

May 8, 2020

 
 
 
April job numbers show impact of
COVID-19
 

It’s not a surprise, but it still hurts to see the spike in unemployment and the reduction in total hours worked by those still employed brought on by the effort to contain COVID-19.

 

Alberta’s unemployment rate rose from an already high 8.7 per cent in March to 13.4 per cent in April. It has not been this high since the current data series began in 1976. For comparison, the average rate over the last 24 months was 7.2 per cent.

 

The unemployment rate is, however, only part of the…

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Using Your Home Equity

 


If you are looking at using your home equity to complete upgrades to your home, paying down debt or using the money for some other necessity, make sure you are in the know about what will be required when obtaining a Home Equity Line of Credit or HELOC.
There will be upfront costs, as with any other mortgage that you may apply for. Lawyers, fees, title search fees, and fees to transfer your mortgage to a HELOC may all be included.

HELOCs do not have fixed rates. This means that your monthly payment can fluctuate. The interest is determined according to the prime rate plus whatever the percentage rate the bank has set. For example, the interest rate at the bank says prime plus 2%. If the prime rate is 1.5%, add 2% more.…

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If you’re in the market to put your home on the market, you are probably looking into whether to hire a real estate agent or not. The main differences between these two options go back to what you’ll save. While you might think you can keep a lot of your hard-invested cash by selling your home alone, this is not necessarily the case. In the long run, it’ll be more beneficial to utilize a realtor versus going the FSBO (for sale by owner – pronounced fizz-bo) route. You’re the only one that can ultimately make this decision but be sure to take a moment to read some highlights on potential outcomes.

 

Save Time

Would you rather spend your weekends off relaxing or hosting an open house? This is

just one of the things a licensed real…

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If you’re buying a home for the first time, it can be a little difficult trying to figure out where to start. Here’s a handy to-do list to help you out, and be sure to call me if you have any questions!

  1. Save: Save for a down payment, closing costs, and insurance, and taxes. It is always safe to have 20% of the amount of the home you are trying to buy. So, if you are looking at a $300,000 home, try to have $60,000 saved. The minimum down payment is 5%  

  2. Improve Credit Score: Make sure to stay current on your bills, make no major purchases, don’t cancel any credit cards. A higher credit score means a lower interest rate!

  3. Calculate What You Can Afford: Look for a mortgage calculator online, or give me a call and I…

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Whether you're painting your home to prepare it for sale, or simply to make it more attractive for your own enjoyment, choosing the right colour is important. A colour isn't just a matter of taste, it's also, to a large extent, about the emotions it elicits.

If you're painting your foyer, for example, you may want it to seem bright and welcoming. So, light orange tones might be appropriate as that colour is often interpreted as friendly.

In your living room, you may want to create an atmosphere of comfort and relaxation. In that case, consider shades of greens or grays as those colours communicate peacefulness and calm.

Want the rec room to look vibrant and energetic? Purples and reds communicate those emotions.

Where do you find more…

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Dream Vacation Entry - Monthly Prizes & Annual Prize of $5,000.00!!  

Dream Vacation 

MaxWell Realty Inc. is pleased to offer this fun and exciting no obligation $5,000 sweepstakes contest. No Purchase Required. 1 Prize will be awarded of $5,000 CDN in January of each year. Odds of winning are based on number of entries received. See full contest rules for details below.

To add additional excitement to the sweepstakes, we are holding additional prize draws from our partners every month! Follow our social channels for monthly draw results! Terms and conditions:  http://bit.ly/2F7lEgO

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As you've probably noticed, credit card companies regularly offer bonuses to get you to apply for their cards. For example, one such card company offers opportunities to buy tickets to concerts and other events ahead of everyone else. It's their "front of the line" service.

When you’re searching for a new home, wouldn't it be great if you could get to the front of the line on desirable properties – before other buyers get the chance?

Well, in a way, you can.

The first thing you need to do is create a profile for the specific type of home you're looking to buy. That profile will need to include the basics, such as type of home (e.g. detached), size and rooms (e.g. 2000-2,500 sq. ft., 3 bedrooms, 2 baths), and your target neighborhoods.

…

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