A Quick October Update

As the weather cools down, so does the real estate market. However, comparing this past September to the one in 2023 shows sales are up by an impressive 31%. This increase is largely due to the current interest rate environment. While rates haven’t dropped enough to fully stimulate the market, home buyers are beginning to feel a sense of relief.

In the coming months, interest rates are expected to fall further. Additionally, new government initiatives aim to make housing more accessible. As of December 15th, first-time home buyers will be eligible for a 30-year mortgage. A longer mortgage term combined with lower interest rates significantly improves affordability. Furthermore, the cap on insured mortgages has increased from…

196 Views, 0 Comments