Mortgage Changes Boost Homebuying

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Canadian housing market

Global News

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Will it be easier or harder for Canadians to buy a home in 2025? - National | Globalnews.ca

Summary

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71% Informative

Some prospective buyers might find an opportunity through changes in mortgage rules and lower borrowing costs in the new year .

Ottawa ’s moves to expand the availability of insured mortgages and 30-year amortizations took effect in late 2024 .

Some experts have also warned that opening a new tier of homes to prospective buyers will drive prices higher.

Re/Max Canada’s 2025 housing outlook released in late November projected a six per cent jump in average home prices this year .

Condos are forecast to increase 3.5 per cent year-over-year to $ 605,993 .

The bulk of housing completions coming to the market in the next few years will be condo properties, while demand is expected to remain tight for detached homes.

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informal

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English

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not offensive

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not hateful