Edmonton, St Albert, & Area RE/MAX Real Estate Professional

 

  We just saw a quick jump in the mortgage rates from 5.5% to 5.85%.

 

I'm not sure where they will go from here. Maybe this is directly related to the economic issues in the U.S. Even with all thats happening we are finding that buyers are buying, and sellers are selling.

 

My opinion is that we are seeing a big confidence problem with both buyers and sellers. All the doom and gloom news causes everyone to be pessimistic. From my reading, I believe the economy is still strong in Alberta and will continue so for the future.

 

Real estate is cyclical, so what goes down should go up.  Keeping an eye on whats happening in the world financial circles, plus doing the math to know when its time to buy instead of renting. You can save some money and build some equity too.

 

We'll have to wait and see what the result will be from the abortive bail-out in the U.S.