Posted on
December 12, 2024
by
Cynthia Lloyd
Welcome to December!
I hope this message finds you well, December has started and so has final stretch of the year. As we move into 2025, many people are considering whether or not 2025 will bring a move with it. While this time can be a lot to juggle, I wanted to reach out and offer some insights that could help you move forward, if a move is in your near future.
Something to consider, if you're expecting to move house in the new year, is the declining interest rate trend we are seeing. In December, the Bank of Canada reduced the Benchmark interest rate for the FIFTH time in a row! The latest 'Jumbo-Cut' took the rate down to 3.25%, this could impact your mortgage options, savings, and financial planning.
📉 What Does This Declining Interest Rate Mean For You?
With the Bank of Canada's repeated lowering of the benchmark rate, mortgage rate & loan terms are likely to become more favourable. This could be leveraged while refinancing, helping to secure a better mortgage rate or reduce your monthly payments. Whether you're relocating to a new area, upsizing, or downsizing, there is a way to make this new rate work for you, let's discuss it!
📍What Market Are You Living In?
Whether you're being posted out in 2025, or staying put, knowing the LOCAL markets is KEY 🗝️ The Real Estate Market in every community is different and requires a expert touch. I am available to be your local market expert, and have a large network of trusted agents around Canada. No matter where you go, I can help get you the information you need.
❓Preparing for the Unpreparable
We all know that it's hard being 100% CERTAIN when dealing with the Army and Posting Season. There are still things you can do to prepare for a move, even if your not positive it will be happening:
✔️Getting Pre-Approved, so you know what you can afford, and where to start during any house hunting trips.
✔️Make Initial Connections with REALTORS® in the areas you may potentially move to.
✔️Plan for Moving costs, there are always last minute, suprise costs than can pop up.
If you have any questions or need assistance with any of these steps, I would be more than happy to help. I would love to help turn a potentially stressful time, into one of comfort and trust, knowing that you're in the right hands.
Happy December!