Interest Rate Increase Influence Buying Power
By Tom Albrecht | Sep 11, 2023 | Calgary - Market Analysis
Demand continues surpassing stock in Calgary's housing market, as interest rates jump further. These factors come together to put a strain on people trying to purchase a home or renew their mortgage. While speaking with Global News, Tom Albrecht says “When you have a low housing stock, you really don’t need extreme levels of demand to keep pushing prices up”. Along with this, a high stress test rate makes borrowing money difficult. Watch the Global News piece here:
Tom Albrecht founded The A-Team with his wife, Breanna. He holds a Masters in Economics for Developing Countries from The University of Oxford. Tom is licensed at RE/MAX First, and is a specialist buyer's agent in Alberta - specifically, Calgary, Fort McMurray, Airdrie, Cochrane, Okotoks & Chestermere. He was rated #1 Calgary agent in 2022 & 2023 by rate-my-agent.com
The interpretations of any MLS® data used are our own and don’t reflect the opinions of the Calgary Real Estate Board or its members. This article is not intended to make predictions about the housing market and should not be constituted as advice. Consult your Calgary Area REALTOR® for real estate market advice.
