Bank of Canada increases policy interest rate by 50 basis points, continues quantitative tightening

FOR IMMEDIATE RELEASE Media Relations Ottawa, Ontario October 26, 2022

The Bank of Canada today increased its target for the overnight rate to 3¾%, with the Bank Rate at 4% and the deposit rate at 3¾%. The Bank is also continuing its policy of quantitative tightening.

Inflation around the world remains high and broadly based. This reflects the strength of the global recovery from the pandemic, a series of global supply disruptions, and elevated commodity prices, particularly for energy, which have been pushed up by Russia’s attack on Ukraine. The strength of the US dollar is adding to inflationary pressures in many countries.…

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Family friendly WALKOUT HOME that is perfect to have extended family living with you as w/a TOTAL OF 6 BEDROOMS, a main floor flex room & 4 1/2 BATHS in the heart of Panorama Hills. This fully developed 2 storey home walks out into a beautiful spacious yard & is located just steps away from walking paths & golf course with transit, schools & shopping nearby. What a great location w/easy access to Country Hills Blvd, Stoney Trail & the QE2. This home features a bright & spacious floor plan. Kitchen has granite counters & ample cupboards, SS appliances including a gas range & is open to the family room & dining nook. Family room has a feature wall with build ins & a gas fireplace to enjoy those cooler days. There is a formal dining & living room off the…

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COMING SOON! 230 Panorama Hills Road NW, Calgary, $899,000, 2 storey walk-out home in Panorama Hills, Extended family friendly home, Fully developed, 6 bedrooms, 4.5 bathrooms, Main floor flex room, Large double attached garage, Close to schools, parks, shopping!

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Love it when we can help make a clients dream come true! Wishing this wonderful family an abundance of happiness in their new home!

 

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A big congratulations to our clients on their purchase! What a great location!

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SEPTEMBER HOUSING MARKET UPDATE
Oct. 3, 2022

Demand shifting to more affordable options

Strong sales for condominium apartment and row properties was not enough to offset declines reported for other property types. This caused city sales to ease by nearly 12 per cent compared to last year.

However, with 1,901 sales in September, activity is still far stronger than levels achieved prior to the pandemic and is well above long-term trends for September. Despite recent pullbacks in sales, and thanks to strong levels earlier in the year, year-to-date sales remain 15 per cent higher than last year’s levels.

“While demand is easing, especially for higher priced detached…

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