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Here we go again! Real estate prices are poised to rise once more—and in some areas, they already are. Several factors are contributing to this shift, including: Mortgage Qualification is Easier: Right now, qualifying for a mortgage is almost as easy as it was during the boom of 2022. Extended Amortizations: In many cases, amortizations have been extended, resulting in lower monthly payments—even by CMHC standards. Higher Refinancing Limits: Refinancing to build in-law suites or lane housing can now go up to 90% of your home’s value—up from the previous 80%. Record Number of First-Time Homebuyers: There’s an unprecedented wave of first-time buyers, with many Canadians between the ages of 25 and 34, as well as a significant number of new immigrants in that same age group, eager to buy. If you’ve been thinking about entering the market or refinancing, now might be the time to act. Feel free to reach out if you have any questions or want to explore your options! Best regards, Geoff |
