Did you know that about 60% of mortgages in Canada are up for renewal in 2025 and 2026?
And these are mortgages from 2020 and 2021, when people locked in historically low interest rates of 1.5-2.5%. That means they'll be renewing new mortgage terms with interest rates in the 4s! What's the impact the new interest rates will have on people's monthly mortgage payments? Will we see more people return to the real estate market because they need to sell their home, or they want to change homes because of the shock of the mortgage payments?
How are people affording historically high home prices in Halifax in 2025? Especially when people are paying higher interest rates!
All that and more on this episode of the Halifax Real Estate Podcast.
Enjoy!
Jason Paul
902-220-7357
jason@infinityrealestategroup.ca
@jasonpaulhalifaxrealtor
Andrew Hutchison
902-240-7212
andrew@hutchisonmortgages.ca
@andrew_hutchison_mortgages
