ClickCease

We’d love to hear from you. Use this form to start the conversation about how we can help you find and purchase the home of your dreams.

We’d love to hear from you. Use this form to start the conversation about how we can help you find and purchase the home of your dreams.

We’d love to hear from you. Use this form to start the conversation about how we can sell your home for top dollar, and in record time.

Please reach out via the form below to inquire about buying and/or selling your home.

General inquiry
General inquiry
Updates 1 month ago

You asked. We answered.

Understandably, the past year’s tumult has stirred up many unanswered questions. So, as we close out this year, we wanted to take this opportunity to answer a few of the most frequently asked questions about current market conditions, right here

How will the interest rate changes affect new properties coming to market?

We have and will continue to see affordability issues. People who bought at lower interest rates have seen those rates climb significantly, and some simply can’t afford to carry the new monthly costs. This will very likely result in an increase in inventory, particularly at the lower price points. 

Should I look at a fixed or variable mortgage?

The rates for fixed and variable mortgages are currently quite comparable. Variable rates, however, will continue to rise. We recommend looking at fixed options for the next six to 24 months, and then re-evaluate because in keeping with the dynamic and cyclical nature of economics, the variable rate will very likely be down by then.

Will there be another interest rate hike?

Yes. The Bank of Canada is set to make another announcement December 7th, which will likely be an increase of another 25 to 50 points. This will be the last increase of the year.

How are first-time buyers being affected?

Again, affordability is being impacted. What you can afford has gone down based on monthly carrying costs. That said, prices are not what they were at their peak last year, so while the cost of borrowing may be higher, it may be offset by the price you pay for the property.

Is now right time to list? 

There are obviously many factors to consider, but the bottom line is that no market can stop you from selling. It simply comes down to pricing and strategy. Look at your motivation. If you’re moving up in the market, now could be a great time to do that. If you’re getting out of the market or moving to another one, this could also be a good time. The key to today’s market is buying and selling within the same timeframe. 

What about investing?

As for investing, the same is true as far as there being many variables to consider. Are you a cash buyer or do you require financing from bank? What type of housing are you considering (condo, freehold, income)? Whatever the case, it is important to align yourself with expert advisors who can provide the metrics, insight and experience you need to make the best decision at the right time.  

As always, if you have questions, we would love to hear from you and would be happy to give you advice, specific to your current situation.

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