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Fort McMurray Mortgage Brokers
Fort McMurray is 435 km northeast of Edmonton, 60 km west of the Saskatchewan border. Fort McMurray is the largest community in the Regional Municipality of Wood Buffalo. The population of Fort McMurray is approximately 65,000 although it is projected to hit 100,000 by 2012 due to the booming tar sands projects. Fort McMurray is not technically a city however if it were it would be the 5th largest in Alberta.
Climate
Fort McMurray has a borderline humid continental climate with long cold winters and fairly warm but short summers. Temperatures average -19°C in winter and in July temperatures average 17°C.
Housing
Housing prices and rents in Fort McMurray are the highest in Alberta, and much higher than you would expect in such a remote northern location. Even with the highest incomes in the province, many tar sand employees make their homes in other cities and fly / commute back and forth. The Alberta government has promised to release more Crown land for residential construction in an effort to keep up with the growth which does not appear to be slowing down.
What our Fort McMurray mortgage brokers are saying:
Fort Mac is one of the few cities we really haven't seen a big slow down. Our Fort McMurray mortgage brokers get as many inquiries today as we did a year ago, which I guess can be considered a good or bad thing depending on whether you are in the market or trying to get into the market. From the perspective of a mortgage broker or a realtor, the only thing this market needs is more houses.
The hardest part about getting a mortgage in Fort McMurray is the amount you need to qualify for in terms of income. The mortgages are large here, as housing is quite expensive. With mortgage rates being so low the affordability of housing is coming down however not as much as it needs to for many buyers. Through longer amortizations however and great mortgage rates we are putting more and more buyers into the market as the only thing tougher than the housing market in Fort McMurray is the rental market.
Verico Mortgage Options Ltd., Fort McMurray's source for the lowest mortgage rates in Canada!
Mortgage Brokers
Call one of our Fort McMurray Mortgage Brokers today, or apply online for a Free Pre-Approval today.
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