2025: 4 Reasons Why 2025 Could Be an Active Year
The real estate market in North Vancouver and West Vancouver could see significant activity in 2025, thanks to four key changes introduced in 2024:
30-Year Amortizations for Insured Mortgages: This extended timeline means lower monthly payments, making homeownership more accessible for many buyers.
Increased Insured Mortgage Limits: The jump from $1.0M to $1.5M for insured mortgages opens more opportunities for buyers to consider properties in higher price brackets, common in North Vancouver.
No Stress Test for Mortgage Transfers: Simplifying mortgage transfers between lenders will encourage buyers and sellers to stay competitive in the market without unnecessary hurdles.
Five Interest Rate Reductions: Lower rates mean more affordable borrowing, creating an environment ripe for both buyers and sellers.
For sellers, this is a golden opportunity to leverage an influx of motivated buyers. For buyers, the relaxed borrowing conditions open doors to condos and homes that were previously out of reach.
Want to know how these changes could affect your next move? Reach out today and follow me for expert insights into the North Vancouver real estate market!
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