CALGARY (660 NEWS)- A new report predicts residential rental rates will be going up this year in Calgary.Property management group Hope Street said the average advertised price for all rentals has increased 13 per cent to $1, 671 a month.That’s compared to September 2018 when the average price was $1,481 a month.READ MORE: Mortgage risks fading thanks to higher rates, tougher rulesPresident and CEO of Hope Street Shamon Kereshi said if you’re a renter, now might be a good time to lock in a rate for the long term.“They’re meant to be for 12 or 24 months, or what not. The trends are telling us in the coming spring and summer seasons, those rates will be going up when we look at listing data.”Kereshi said that vacancy rates are also inching down as a result of the new mortgage rules.READ MORE: A rough real estate market in Calgary“People who were qualified to buy their first house or families that were qualified to move into a slightly larger house are no longer qualified to do that because the mortgage rules have become stricter. As a result, the houses they were hoping to buy, they can no longer afford to buy or no longer get approved to buy.” read more