Wes Munro Realtor

Legal Update Alberta Nov/2025…

With the busy summer closing season behind us and the end of the year quickly approaching we have a few updates to share with you.

Land Titles Registration Times

Notwithstanding the more than doubling of Alberta Land Titles registration fees in October of 2024 we have not seen any improvements in registration delays. It is presently taking more than two months to secure registrations of transfers of land and mortgages which means that any transactions closing now will not be completed with new titles issuing until at least the middle of January of 2026.

Christmas

This year’s Christmas Eve and New Year’s Eve both fall on Wednesdays with the Christmas and New Year’s days falling on Thursdays.

The Land Titles Office is typically closed over the holidays for maintenance and upkeep. As a result of the foregoing, our office will also be closed from noon of December 24th through to and including Friday December 26th and again from noon on December 31st through to and including Friday January 2nd. We urge you to use caution and consult us in advance prior to scheduling completion days from and including December 23rd through to January 5th as the timely closing of real estate transactions will be difficult during this time period.

Condominium Document Reviews

Condominium document review fee can be $385 plus GST and any search costs. A lawyer may request a retainer of $500 for this service.
Actual Condo Doc review companies charge similar fees without retainer!

Wills and Estates

In addition to assisting Lou with his real estate conveyancing practice, Catherine Andrews is happy to assist clients with the preparation of Wills, Enduring Powers of Attorney and Personal Directives.

Bank of Canada cuts Rates again!

The Bank of Canada lowered its key interest rate again by 0.25% (25 basis points) today, bringing it down to 2.25%. This marks another step in the ongoing effort to support the economy as inflation continues to cool.

Since beginning this easing cycle in June 2024, the Bank has reduced its rate by 2.75% (275 basis points) from a peak of 5%, its highest level in over two decades.

Here’s how today’s decision could affect you:
Variable-rate mortgages: You can expect a drop in your interest rate and monthly payments once lenders adjust their prime rates. Most major lenders are expected to move to 4.45%, with TD Bank slightly higher at 4.60%.
Fixed-rate mortgages: There’s no immediate change today. Fixed rates are influenced more by bond yields, which may still shift based on how markets interpret the Bank’s tone and inflation outlook.
Lines of credit and other loans tied to prime: Borrowing costs should ease slightly as prime rates move lower.
The Bank’s next rate announcement is scheduled for December 10. Between now and then, inflation and economic trends will guide whether further cuts are likely.

If you’d like to chat about how today’s rate cut could open up new options for you, I’d be happy to walk through what it means for your mortgage.
Best regards,

Sean Rampersaud
Mortgage Associate