The real estate market has kicked off 2024 with remarkable momentum, with a resurgence in bidding wars. This shift follows a slower period last fall, which experienced multi decade lows in sales. Key Market Trends: • Sales Surge: Home sales in January soared by 37% compared to last year, signaling a strong resurgence of buyer interest. • Renewed Confidence: The anticipation of the Bank of Canada potentially cutting rates later in the year is fueling buyer enthusiasm to enter... [read more]

The real estate market is witnessing notable shifts in mortgage rates, essential for current and potential homeowners to understand. Recent Trends in Mortgage Rates: • This week has seen most lenders, including major banks, reducing their rates by 10-20 basis points. • The average deep-discount 5-year fixed rate is now around 5.07%, down from 5.82% in October. The expectation going forward is a general downward trend in rates, though not without fluctuations. [read more]