What's New at Axis

The Canadian economy experienced some significant growth in Q4 of 2022, and this has cemented the possibility of the Bank of Canada holding its key interest rate steady. In this article, we will be discussing the recent economic developments and how they impact the Bank of Canada's policy decisions.

Economic Overview:

The Gross Domestic Product (GDP) in Q4 of 2022 grew by 4.5%, compared to the previous quarter. This surge in growth can be attributed to higher exports and a stronger labor market, which saw an increase in job creation. Additionally, consumer spending remained robust, contributing to the overall economic growth. The Bank of Canada had previously stated that it would not raise the interest rate until inflation stays above 2% for a sustained period. With inflation currently at 1.8%, this latest economic development makes it highly likely that the Bank will keep interest rates steady for the near future.

Impact on the Canadian Economy:

The current situation of steady interest rates is expected to have positive implications for the Canadian economy. The lower interest rates mean that borrowing will be cheaper for consumers and businesses, which can result in increased spending and investment. Additionally, the lower rates will help to stimulate the housing market, which has been under pressure due to the COVID-19 pandemic. A stable interest rate environment also helps to maintain the competitiveness of Canadian exports, as a stronger Canadian dollar may have negative implications for exporters.

In summary, the recent Q4 economic developments have solidified the possibility of the Bank of Canada holding its interest rate steady. This steady rate environment is expected to have positive implications for the Canadian economy, including increased spending and investment, as well as support for the housing market and exporters. It is important to monitor these developments and stay up to date on the latest economic data to make informed financial decisions.

We understand that getting approved for a mortgage can be a daunting and stressful process, but we're here to help. Our team of experts has compiled a comprehensive guide on how to increase your chances of getting approved for a mortgage.

Improve Your Credit Score

Your credit score is one of the most important factors in determining your mortgage approval. A high credit score can increase your chances of getting approved and lower your interest rate. To improve your credit score, pay your bills on time, keep your credit card balances low, and dispute any errors on your credit report.

Save for a Down Payment

Having a large down payment can also increase your chances of getting approved for a mortgage. Lenders prefer borrowers who have saved up a substantial amount of money for a down payment, as it shows that they are financially responsible and have a vested interest in the property.

Reduce Your Debt-to-Income Ratio

Your debt-to-income ratio is the amount of debt you have compared to your income. Lenders prefer borrowers who have a low debt-to-income ratio, as it shows that they have the financial means to repay the mortgage. To reduce your debt-to-income ratio, pay off your debts and avoid taking on any new debt.

Get Pre-Approved for a Mortgage

Getting pre-approved for a mortgage can also increase your chances of getting approved. It shows that you are serious about buying a home and that a lender has already reviewed your financial information and determined that you are eligible for a mortgage.

Choose the Right Type of Mortgage
There are many different types of mortgages available, each with its own set of pros and cons. It's important to choose the right type of mortgage for your financial situation and long-term goals. Some common types of mortgages include fixed-rate, adjustable-rate, and government-insured mortgages.

Work with a Mortgage Broker

A mortgage broker can help you navigate the complex mortgage process and find the best mortgage for your financial situation. They can also help you negotiate with lenders and get the best possible interest rate.

Be Prepared for the Application Process

The mortgage application process can be lengthy and complicated. To increase your chances of getting approved, make sure you have all of the necessary documents and information ready, including pay stubs, bank statements, and tax returns.

In conclusion, getting approved for a mortgage requires careful planning, financial responsibility, and a good understanding of the mortgage process. By following these tips, you can increase your chances of getting approved for a mortgage and achieve your dream of owning a home.

Summer is upon us once more and it is so good to get outside and enjoy the outdoors! At Axis in Walden, we have embraced the outdoors and used this opportunity to jumpstart construction along with a couple other surprises. Here’s what’s new for Summer 2022.

Z Model Show Home Now Open!

As of June, we opened the newest show home. This is the first time you can now tour a completely done up Z model. Featured in the show home are some of the most popular option upgrades including top picks like the walk in shower, iron spindle railings, and stainless steel hood fan. Following the popularity of our previous X model upgraded show home, this new show home features black accents throughout. From the lighting package, plumbing fixtures, bathroom accents, and door hardware, adding a touch of matte black throughout the home takes this home to a new level of luxury. Come see for yourself and tell us what your favorite feature is!

Show home located at 121 Walden Lane. Call David for questions or directions at 403-369-6216

Block 6 is Ready for Possession!

The Y models were already one of our most popular floorplans, and these one backing onto the greenspace are no exception. With a smart layout, these 1193sqft 2 storey towns pack a lot of space, especially considering they have a basement that can be developed with a 3rd full bathroom and/or a 4th bedroom. In June this block is going to get the newest residents to Axis and we are so excited to welcome these new families.

Block 1 Foundations are Done

Block 1 is where the next X model townhomes are located. Facing west they will have attractive views of the Mountains. Now that the foundations are completed, the next step is an exciting one – Framing! Now that’s where this block really takes shape, and with units to this block, this is really going to attract the attention of cars and people passing by. Which brings us to our next update…

Block 2 Now Open, New X Units Available for Purchase

Our very last block of homes is finally open for purchase. This block is made up of just 6 units of the X model. Facing west, you’re going to get clear views of the mountains. This is your last chance to get into a new townhome in Axis in Walden. Check out our floorplans to see what the X model looks like on the inside, or check out the gallery to see a virtual tour. Prices start at $415,000+gst and possession is expected to be late 2023/early 2024. Note: Only 2 units are released each month, and we anticipate this block selling out by September, so if you’re in the market for an amazing home, now’s the time to act!

That’s all for now. Stay tuned for more updates!