A New Political Chapter, Familiar Housing Questions
Discover customized mortgage solutions and strategies with expert guidance from The Spooner Group.
Let's break it all down, and help you make confident decisions, no matter what headlines are saying.
A minority government often leads to slower, more cautious changes.
Policies take longer to pass, and compromises are more common.
So while you'll hear promises around: ποΈ Housing supply πΈ Tax credits or affordability incentives π¦ Lending regulations β¦it may take months or even years for these to be implemented (if they happen at all).
Key areas to watch:
Despite headlines, home prices are rising again in many Canadian cities. According to the latest 5-year trends:
With low supply and motivated buyers, sellers still have strong negotiating power. If you're thinking of moving up or downsizing, timing matters.
Prices are trending up, and with interest rates lower than last year, getting in sooner could be a smart move. Waiting for prices to "crash" may not pay off β Canada's housing market historically rebounds quickly.
The Bank of Canada has already cut interest rates 7 times since mid-2024. And many analysts expect 1β2 more cuts by the end of 2025. Right now, average mortgage rates are:
But this could change depending on:
π Bottom line: If you're waiting for "the perfect rate," you're looking at it wrong. You should act when you can afford to (and when you have a plan in place). We haven't had rates like this since 2022.
Here's what you should be thinking about depending on your goals:
Let's be honest: there's no such thing as a perfect time to buy. But history shows that people who buy with a plan tend to:
Those who wait on the sidelines often miss opportunities because of fear.
Election results, rate predictions, and housing headlines will continue to shift. But your mortgage strategy shouldn't be based on headlines β it should be based on your goals, timeline, and finances.
If you want to talk through your options (or just get clarity without pressure) I'm here to help. π© Reach out anytime to book a no-obligation chat.
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