As we navigate through 2024, the Canadian real estate and mortgage landscape has seen significant shifts just this year alone. From governmental policy changes from Trudeau's Liberal Government, to fluctuating interest rates, understanding these dynamics is crucial for anyone involved in the housing market. Join Alex McFadyen as he breaks down the critical developments that have shaped the Canadian real estate and mortgage sectors since the start of 2024.
In this comprehensive video, we cover:
📜 Government Announcements Impacting Real Estate: Delve into the latest updates, including the significant 66% Capital Gains Tax increase and the enhanced First Time Buyers Benefits, which now allow a $60,000 RRSP withdrawal under the Home Buyers Program and a 30-year amortization exclusively for NEW Build Properties.
🎢 Fixed Rates Journey in 2024: Examine the rollercoaster trends of fixed mortgage rates this year, their current standings, and what the coming months might hold for potential buyers and current homeowners.
⏳ Bank of Canada's Rate Cuts Outlook: Everyone is eagerly awaiting rate cuts. While Tiff Macklem has not confirmed a date, indications are strong that cuts are imminent within the year. We analyze what this means for the market and timing your investments.
🏡 The State of the Real Estate Market in 2024: Despite a slow start, there's burgeoning opportunity for savvy investors and homebuyers poised to enter the market before the anticipated rate drops.
🔑 Renewing Your Mortgage in 2024?: Tips and strategies for those facing mortgage renewal, ensuring you secure the best possible terms during these fluctuating times.
#canadarealestate #trudeau #canadianpolitics #canadianeconomy #housingcrisis
🎙️ Make sure to check out our brand new podcast, "The Flow: Real Estate & Money Show" wherever you listen to podcasts. podcasters.spotify.com/pod/sh...
🌐 For detailed insights and tailored advice for the Canadian market, don't forget to visit www.getflowmortgage.ca/. And, if this content lights a bulb for you, give us a like, share, and make sure you're subscribed to Flow Mortgage Co.
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Timestamps:
0:00 Keeping Up With The Changes
0:30 NEW Capital Gains Tax Increases!
1:23 NEW First Time Buyers Benefits
2:03 Fixed Rates So Far in 2024
2:57 When will the Bank of Canada Cut Rates?
3:45 The Real Estate Market so far in 2024
4:30 Renewing Your Mortgage in 2024?
5:07 Exciting Things at Flow Mortgage Co.
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