Mortgage Research

As we navigate the spring market, one thing remains clear: now is the time to put a proactive mortgage strategy in place. Whether you’re approaching renewal, considering a new home purchase, or thinking about leveraging your home’s equity, being prepared ensures you're ready to act—no matter what the future holds.

WHY TIMING MATTERS

Interest rates are on pause—for now. After a series of rate cuts beginning last June, the Bank of Canada held its key interest rate at 2.75% earlier this month. While some economists anticipate the possibility of further decreases later this year, much depends on how the broader economy evolves. In the meantime, today’s stable rates present an opportunity to explore your options—whether that means securing a better deal on a new mortgage or refinancing your current mortgage.

At the same time, housing affordability and access to homeownership are major themes in the platforms of both the Liberal and Conservative parties. No matter who forms the next government, there will likely be policy changes that affect the housing market. However, those changes won’t be immediate. Legislation and programs take time to design, pass, and implement. That’s why preparing now makes sense—you’ll be positioned to take advantage of today’s conditions and ready to adapt when changes do come.

A quieter market could be an opportunity.

The spring market has been slower than usual, with many buyers and sellers waiting for clearer signals before making a move. This quieter environment can actually work to your benefit. With fewer buyers competing for homes, you may find better opportunities to negotiate or even secure a home at a better price.

WHAT YOU CAN DO RIGHT NOW

If your mortgage is renewing within the next 12 months be proactive! You don't have to wait for your lender's renewal letter and you don't have to accept their offer without considering your options first. It’s always a good idea to shop around – and renewal is a great time to re-evaluate your situation so you can make any changes if necessary.By starting the renewal process early, not only do you give yourself time to secure a better deal, potentially saving thousands of dollars in the long term, you can lock in a favourable rate and avoid unpleasant surprises.

If you're considering a home purchase get pre-approved now to understand your buying power. Pre-approval helps you act quickly when the right property or rate becomes available. It also helps you focus your home search within your budget, saving time and stress. If the market shifts, having pre-approval in place makes it easier to act decisively.

If you’re thinking about accessing your home equity this is an excellent time, with home values in many areas remaining strong. Whether you want to consolidate high-interest debt, fund home improvements, or build financial flexibility for the future, refinancing now can give you more options as market conditions remain steady. Don’t wait for potential changes in rates or policy—take advantage of the current window of opportunity.

Even if you’re not planning any immediate moves, it’s always helpful to check in with your mortgage professional. With changes potentially on the horizon, staying informed will ensure that you're prepared for whatever comes next.Whether you’re renewing your mortgage, buying a new home, or tapping into your equity, I’m here to help you build a strategy that aligns with both your short- and long-term goals.

Connect with The House Team today and let’s get you on track for what’s to come. Call 613-962-1388 or request a free 15-minute appointment with The House Team HERE - we're here to help!