The Bank of Canada lowered its key overnight rate by another 50 basis points (0.5 percentage points), bringing it to 3.25%. This marks the fifth reduction in the central bank’s policy rate since June and the second consecutive cut of this magnitude.

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Homeowners in Canada may face challenges over the upcoming year when renewing their mortgages in 2025, particularly with higher interest rates on fixed mortgages than when they purchased.  With this forecast in mind, homeowners need to be thinking about how to maintain the greatest equity in their home and ease the potential stress of these mortgage renewals.

A few factors to consider:

• How can you preserve the maximum equity if a home sale is necessary at the time of your mortgage renewal?
• If listings are expected to surge through 2025, what do you need to do to be competitive to ensure you can buy and sell with ease?

If your mortgage is coming up for renewal in 2025, ComFree is here to help, offering a service with zero commissions for buyers and sellers alike, while providing maximum exposure and a competitive pricing advantage.

How ComFree Can Help:

1. Higher-Quality Showings with Qualified Buyers: ComFree offers immersive virtual tours that provide potential buyers with a more detailed, accurate view of the property. This helps reduce the number of “tire kickers” — casual browsers who aren’t serious about purchasing. With fewer low-quality showings, sellers are more likely to attract qualified buyers who are truly interested and financially able to make a purchase.
2. No Commission Fees — Save on Costs: One of the most significant benefits of ComFree is that there is no middleman, which means sellers don’t have to pay high real estate commission fees (typically around 5% in Canada) and buyers don’t needs to pay increased asking prices.  This saves both parties thousands of dollars, which can be especially helpful in a market where pricing may need to be adjusted.
3. Maximum Exposure:  ComFree listings receive the same exposure as those listed with any full service brokerage.  All ComFree properties are listed on the MLS®/Realtor.ca and comfree.com.  This ensures sellers still reach the maximum audience and buyers know your home is on the market.
4. Discounted Legal Fees: ComFree offers is discounted legal services through its partnerships across Canada.  Buyers and sellers can expect to save between $500 and $1,200 in closing legal fees, helping to reduce the overall cost of selling their home.
5. Streamlined Buying & Selling Process: ComFree provides a the maximum benefits of a full service agent, but cuts outs the middleman, making the transaction process simple and easy! From listing to closing, home-owners have come to reply on ComFree to offer all the tools and support needed.

If you are looking to sell in the upcoming month, ComFree allows you to save thousands which increases your buying power AND increases your competitive advantage if the prediction of increased listings in 2025 rings true.

Overview of Current Trends

The Canadian housing market is beginning to exhibit signs of stabilization, particularly as interest rates show a downward trend. This shift is expected to positively influence buyer sentiment and overall market activity.

Interest Rate Developments

Recent data indicates that interest rates are on the decline, which could alleviate some financial pressures for potential homebuyers. Lower interest rates generally make borrowing more affordable, potentially leading to increased demand in the housing sector.

Market Activity and Buyer Sentiment

As interest rates decrease, there is an anticipated boost in buyer confidence. This renewed optimism may encourage more individuals to enter the housing market, contributing to a more active real estate environment. The combination of lower borrowing costs and improved consumer sentiment could lead to a resurgence in home sales.

In summary, the Canadian housing market appears to be stabilizing as interest rates decline. This trend may foster a more favorable environment for buyers, ultimately enhancing market dynamics.