In the world of mortgages and real estate, things are looking up. The Government of Canada has increased the maximum home value eligible for mortgage insurance by 50%, from $1 million to $1.5 million. This is a significant change. Additionally, last Tuesday, Canada’s inflation rate dropped to 1.95%, much sooner than expected (we weren’t anticipating a drop to 2% until late 2025). In even better news, the US Federal Reserve made a major rate cut of 0.5%, which impacts us as well since US policies influence our rates. This all signals the potential for further mortgage rate cuts sooner than expected—great news for home buyers and owners!
Feel free to reach out if you have any questions. Wishing you a fantastic week!
Elena
