Wrapping Up the Year
The Bank of Canada wasn’t very jolly this year, holding rates steady due to stubborn inflation and uncertainty. The good news? Great mortgage options are still available, with many rates under 4% — and more relief expected in 2025. I’m optimistic we’ll see fixed rates dip toward 3% by summer.
Is a market adjustment underway?
Rising inventory, slowing pre-sales, and softer demand suggest the housing market is shifting. While more supply sounds positive for buyers, much of today’s inventory isn’t aligned with what people truly need — a challenge created by years of misguided policy and mismatched construction.
A few tips during uncertain times:
Sell only if you need to — pricing is everything.
Consider pausing rent increases to retain great tenants.
Trim monthly expenses to stay flexible.
Protect your equity early with a Line of Credit or other financing options.
Stay ahead of your mortgage renewal - early planning matters.
