While Canada’s housing market often feels insulated, global events still influence mortgage rates, buyer sentiment, and overall market health. 💰 U.S. Federal Reserve DecisionsThe Bank of Canada often reacts to movements from the U.S. Federal Reserve. When the Fed raises or lowers interest rates, it impacts currency values and borrowing costs north of the border.
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Canada’s housing market is evolving, and if you’re planning to buy, sell, or invest, understanding emerging trends is essential. 🌆 Urban to Suburban ShiftThe pandemic sparked an urban exodus, but now, a reverse trend is starting. Young professionals are returning to city centers like Toronto and Montreal for job opportunities and urban amenities. However, suburban
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The Canadian housing market is always a hot topic, and 2024 is no exception. After years of fluctuating interest rates, record-breaking highs, and affordability debates, what’s next for buyers, sellers, and investors? 🏡 Interest Rates: A Balancing ActAfter aggressive rate hikes in 2022 and 2023, the Bank of Canada has started to ease rates, bringing
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Let’s be real — every Canadian wants the lowest possible mortgage rate. But how do you actually get it? It’s more than just calling your bank. 1️⃣ Shop Around:Don’t settle for your primary bank’s first offer. Mortgage brokers can often find better deals through multiple lenders. According to Ratehub.ca, Canadians who use brokers save an
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You found your dream home, the numbers seem right, but — wait — you didn’t pass the mortgage stress test? Yep, it’s a thing, and it’s a game-changer in Canada’s real estate scene. What is the Stress Test?Introduced in 2018, the federal stress test ensures borrowers can handle potential interest rate hikes. You’ll need to
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When diving into homeownership, understanding your financing options is crucial. In Canada, mortgages aren’t one-size-fits-all. Each comes with its own benefits and drawbacks, so let’s break it down. 🔒 Fixed-Rate MortgagesThe go-to choice for many Canadians, fixed-rate mortgages offer stability. Your interest rate stays the same throughout your term — no surprises. This is perfect
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