Mortgage Market Changes – They’re Working!

I previously wrote about changes to the mortgage market introduced by the Federal government in late 2024. The changes included the (re)introduction of 30-year mortgage amortizations and an increase in the Mortgage Insurance cap. You can view a simple explanation here.

Well, it looks like these changes are working!

I recently came across an update on the impacts of those changes 18 months after their introduction. You can check out the article from Canadian Mortgage Trends here. It’s a little lengthy but provides great context and information if you are into that sort of detail.

In a nutshell, the changes have had the intended effect, specifically in the Greater Vancouver (and Toronto) markets by helping first time home buyers enter the market or afford more house.

Do these changes apply to you in your home buying journey? Have questions?

Reach out any time.