TWO RECENT DEVELOPMENTS COULD HELP BRING MORTGAGE RATES DOWN

First, the collapse of banks in the U.S. and Switzerland sent shockwaves through the financial sector, causing a ripple effect through the global economy.

Fixed mortgage rates generally follow the 5-year Canadian bond yield. A growing number of investors, concerned about instability in the banking sector, are now fleeing to the safety of these government-backed bonds. An increase in bond prices means lower yields—and lower mortgage rates

You Want To Buy A New Home So Now What?

Should You Sell First Then Buy?

The market has shifted, it’s now balanced but you still need to be aware of the pros and cons of the ultimate question: “I want to buy a new home so should I sell first and then buy”?

It’s a tough call to be sure and it’s important that you understand all the implications that are associated with all the answers. So let me begin.

Market Conditions

We are definitely in a balanced market with a slight lean towards a buyers market but don’t let that fool you, as this can increase the time your home sits on the market. As a result if you sell before you buy it ensures you won’t end up with two mortgages, always a plus!

There is another equally important consideration; selling with a looming closing date on your home puts undue pressure on you to jump on any offer. Selling first provides you the luxury of considering each offer carefully and negotiating more favourable conditions

There’s a lot to consider when selling your home, from market conditions and appraisals to where you’ll go next. Don’t forget, however, the importance of design. It’s often one of the first things buyers notice when they walk into a home, and it’s also a detail that you, as a seller, can easily control.

According to Realtor.ca’s 2022 housing market forecast, October of 2021 saw record home sales.1 Even with the pandemic igniting new restrictions in some provinces, the Canadian housing market is expected to remain hot. This means, if you’re looking to sell in the near future, now is the time to consider how you can stand out.

Updating your home design is one way to do that. Changes like eco-friendly fixtures or upgraded siding can add value to your home now and be highlighted when you market it for sale later. To get the most out of your updates, focus on these popular home design features that will wow buyers in 2022.

Keep in mind, not all of these will work well in every house. If you plan to buy, list, or renovate a property, give us a call. We can help you realize your vision and maximize the impact of your investment.