b'Looking to buy real estate?The real estate market in Toronto has been the subject of much speculation and discussion over the past couple of years with bidding wars, double-digit price growth and the highs and lows of interest rates. As we kick off 2023, we are shifting into a world where interest rates are higher, thankfully bidding wars are less common and house prices have stabilized, making this market very different from the one weve been entrenched in over the last few years. As an RBC mortgage specialist, Im frequently asked by my clients: how are rising interest rates impacting affordability and what does this mean for homebuyers? Rising interest rates have increased qualifying guidelines which means that purchasing Mass_NRG_GreyLine_Inset_OuterMask_CMYK power is less than it would be when rates are low. The silver lining is that higher interest rates have put downward pressure on prices which helps to compensate for reduced purchasing power. Lower house prices could also have an impact on the downpayment required and the amount of land transfer tax you need to pay. Navigating the evolving housing market is tough, but Im here to help you! RBCs white glove service means that your needs always come first. I can meet with you whenever and wherever its convenient for you and I will do whatever it takes to make this process as seamless as possible. Together, you and I will assess your financial situation and your financing needs to identify strategies tailored to your situation. I cant stress enough the value you get from working with a mortgage specialist. It isnt just limited to pre-approvals and newhomepurchases.Fromsmallimprovementstolarge makeovers, I can help find the right financing for your needs. I can also help you leverage the equity youve built up in your home to invest in real estate, to renovate, start a business, or even pay for childrens education.Your home is so much more than the place where you eat and sleep; its where you raise a family, build a community, and chase your dreams. Whether you are looking to purchase, refinance, renovate, or take advantage of the equity you have built, I cant wait to help you make your home ownership dreams come true in 2023!Erika BikloMortgage Specialist 647-628-5786erika.biklo@rbc.comContact me today!Personal lending products and residential mortgages are offered by Royal Bank of Canada and are subject to its standard lending criteria. /Trademark(s) of Royal Bank of Canada.45810 (01/2023)'