Not long ago, home sellers were in their heyday, as historically-low mortgage rates triggered a real estate buying frenzy. However, the Bank of Canada shut down the party when it began raising interest rates last year.1 Now, it’s not as simple to sell a home. While pandemic-era homebuyers were ...
Continue ReadingTo avoid buyer’s remorse, be sure to consider your future self when shopping for a home. Most new homebuyers don’t regret becoming homeowners. In fact, according to a recent survey by Zolo, 80% of Canadians who purchased a home during the pandemic say they’re glad they bought their current homes.1 ...
Continue ReadingDoes your current home no longer serve your needs? If so, you may be torn between relocating to a new home or renovating your existing one. This can be a difficult choice, and there’s a lot to consider—including potential costs, financial implications, and quality of life. A major remodel can ...
Continue ReadingThere’s an old adage in real estate: location, location, location. But ever since the Bank of Canada began its series of inflation-fighting interest rate hikes last year, a new mantra has emerged: mortgage rates, mortgage rates, mortgage rates. Higher rates had the immediate impact of cooling homebuyer affordability and ...
Continue ReadingIt’s not easy being a first-time home buyer right now. At the end of last year, housing affordability hit an all-time low.1 Additionally, mortgage rates have risen significantly since 2021, while inventory remains tight for many property categories, but especially for starter homes. Even lower-priced condos are harder to snag ...
Continue Reading2023 Real Estate Market Outlook (And What It Means for You) Last year, one factor drove the real estate market more than any other: rising mortgage rates. In March 2022, the Bank of Canada began a series of interest rate hikes in an effort to pump the ...
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