Category Archive Lethbridge Mortgage

Coaldale Mortgage - Market Update January 2017

Lethbridge & Coaldale Market Update – January 2017

Being Lethbridge and Coaldale mortgage professionals, the team at Mortgage Worx is consistently monitoring the housing market performances of each town and its surrounding communities.

In doing so, we can confidently provide our clients with the best advice and services possible when it comes to getting a mortgage.

Per the Lethbridge Real Estate Board Association, home sales in December 2016 were just under what they were in December 2015. Last month there were 126 units sold, a 2.6% decrease from the same month last year in Lethbridge.

For the 12-months of 2016, home sales in Lethbridge reached a nine-year high thanks to a 1.2% jump from what 2015 sold.

The average home sold for $262,265 in December 2016, a small decrease of 1.7% from the same time last year, while the average selling price for a home in all of 2016 experienced a 1.3% increase to $266,801.

Looking at Coaldale specifically, the average price that a residential home sold for in 2016 was $269,110, a drop from the $287,065 average recorded in 2015. Also falling was the number of total home sales as they dropped from 165 units to 148 units year-over-year.

The number of listings in Coaldale stood at 266 units for all of 2016, a number that was slightly higher than the 249 we saw in 2015. The average sale-to-list price fell from 65% in 2015 to 55% in 2016.

However, the number of new listings for all property types in Lethbridge equalled 135 units last month, the exact same as December 2015.

Overall, the number of residential months of inventory was 8.4 months at the end of December 2016, up minimally from the 8.2 months we had in December 2015. This number is calculated by taking the number of homes for sale on the market and determining how long it would take for them to sell based on the current pace of sales.

Although there were no major changes in the area in December, we can expect things to start to ramp up once again as we get further into 2017. With oil prices on the rise and a new season upon us, it wouldn’t be surprised to see sales increase over the coming months.

If you’re interested in buying or selling a home in the area, consulting a Coaldale mortgage broker from Mortgage Worx is a great way to ensure that you get the right deal for your situation.

We are here to help people Lethbridge and the surrounding areas find the right financial plan suited for their needs. For more information, reach out to us today!




Fort MacLeod Mortgage

3 Great Reasons To Use A Mortgage Broker

As Fort MacLeod mortgage professionals who have been helping people in the city and its surrounding areas find the perfect mortgage for years, our team is constantly asked numerous questions.

Questions regarding what exactly we do as mortgage brokers, how we differ from a direct lender and how much a broker costs are all concerns we see on a frequent basis.

To help answer some of these questions and ease your mind when faced with the decision of whether to work with a mortgage broker, we’ve compiled a short list of three reasons why you should use a broker when it’s time to get a mortgage.

  1. More Options

At Mortgage Worx Inc. – The Mortgage Centre, we have access to more than 30 of the nation’s top lenders in which we use to find you the best rate.

This means that we can talk to different lenders to see what they can offer you. We negotiate with these lenders on behalf of you to find the lowest rates we can. On the other hand, banks normally just have a couple of options for clients as they can only offer what that specific bank carries.

Using a broker and shopping through the network of lenders that we have relationships with, our team will provide you with increased options so you can ultimately get the mortgage package that best fits your unique situation. These lenders will battle for your mortgage, and this is something we use to our advantage to get you a lower rate!

  1. Save Time and Money

Working with a Fort MacLeod mortgage broker like one from Mortgage Worx can save you and your family a considerable amount of time and money. A broker is an intermediary between you and the lender, saving you valuable time that you may otherwise have had to spend shopping yourself around to different lenders. A broker is essentially a one-stop shop for your mortgage needs.

A broker can also potentially save you thousands of dollars by negotiating lower rates with lenders, something that may not be possible if you were to approach a lender on your own.

  1. Brokers Work For You

Finally, mortgage brokers work for you! Our team is not employed by the banks or any other lender. In fact, all our advice and recommendations we make are done with all of your best interests in mind.

Additionally, a broker’s service is generally free to you! When a lender agrees to take on your mortgage, that lender will compensate the broker that helped you. This is extremely beneficial to you as you are not charged a broker fee!


If you’re considering buying a home, refinancing a mortgage or consolidating debt, contacting one of our Fort MacLeod mortgage professionals is a great first step to ensuring you get the right deal.

Located in Lethbridge, we are happy to serve Lethbridge, Fort MacLeod and its surrounding communities. For more information on how we can help, contact us today!