CALGARY - With Calgary’s housing market picking up steam again, more than 80 real estate professionals, 20 bankers and several home renovation experts and mortgage insurers will gather Saturday for a one-day home buying and renovation extravaganza.

A carnival atmosphere is planned for two RONA locations — 90 Crowfoot Way N.W. and 9630 Macleod Trail S — for the Under the Tent Home Buyers and Renovation Event, which is a free information day of seminars and one-on-one home buying, financial and advisory services open to the general public from 9:30 a.m. to 4 p.m.

“This is a perfect time with low interest rates and reduced house prices for current owners and first-time home buyers to learn more about the home buying and renovation options,” said Laura Parsons, area manager, mortgage specialists, Calgary District, BMO Bank of Montreal.

Realtors from CIR Realty will talk about current MLS properties and RONA associates will discuss the federal government’s renovation tax credit. There will also be BMO mortgage specialists as well as mortgage loan insurance advisers from Genworth Financial Canada. Canada Mortgage and Housing Corp. will also be available to provide individual advice to prospective buyers.

Questions will also be answered regarding the Purchase Plus Improvement Program which allows people to fold immediate major renovations and other improvements on the property into the mortgage when buying a home. This eliminates the need to obtain secondary financing after the purchase to pay for home improvements. The home buyer obtains a single first mortgage, makes a single mortgage payment and benefits from the first mortgage interest rates.

All the sponsors of the Under the Tent Home Buyers and Renovation Event, including the 80 realtors, have pooled their funds to provide a donation of $1,600 to Habitat for Humanity.

Historic low mortgage rates combined with less expensive homes compared with a year ago has sparked activity in the local real estate market. May witnessed the first year-over-year gain in single-family MLS sales since September and since April 2007 for condos. And preliminary data indicates June sales are continuing at a very steady pace.