Melissa Thimot Real Estate

It’s hard to ignore how loud and unsettled the news feels right now.

Between ongoing trade tensions, questions about the economy, affordability pressures and constant speculation about interest rates, headlines seem to shift by the week, sometimes by the day. For many Canadians, that steady stream of mixed signals can make it difficult to know what to do next, especially when it comes to major financial decisions like buying a home or renewing a mortgage.

What’s worth remembering is that while the broader environment matters, the right mortgage decision is rarely about reacting to headlines. It’s about making choices that align with your own finances, your lifestyle and your longer-term plans.

For buyers, uncertainty can actually create opportunity, particularly for those who are prepared. When confidence is lower, there is often less competition, more room to negotiate and more time to think through decisions carefully. That breathing room can be valuable, allowing buyers to focus less on urgency and more on fit: the right home, the right payment and the right structure for their situation.

For homeowners approaching a renewal or considering a refinance, uncertain times make it even more important not to treat the process as a formality. Even small differences in rate, term length or product features can add up over time. And if you’re looking at refinancing to manage debt or improve cash flow, today’s environment makes it especially important to understand the trade-offs, not just the headline rate.

Focus on what you can control

The common thread is that uncertainty doesn’t mean standing still. It means being more intentional. There are often more options available than people realize, but those options don’t always show up clearly in the news or online rate tables. Understanding what’s available, and what makes sense for you, usually requires a broader conversation.

That’s where working with me as your mortgage professional can make a real difference, by stepping back together, reviewing your full financial picture, and making sure your mortgage supports your long-term goals. A good mortgage plan doesn’t try to predict every economic twist and turn. Instead, it focuses on flexibility, affordability and resilience so you’re well positioned even when conditions change.

If you’re feeling uneasy about what you’re hearing in the news, you don’t have to sort through it on your own. Whether you’re thinking about buying, approaching a renewal, or considering a refinance, reach out to me for a quick conversation. Even a short check-in can help confirm you’re on the right track, clarify your options, or highlight adjustments worth considering.

When the headlines feel noisy, the goal is simple: make sure your mortgage plan still fits your life. I’m always here to help.

Paul Macara
Mortgage Professional
(250) 857-4741
paul@macaramortgages.com

Preparing your home for showings can feel overwhelming — especially when you have little ones running around. The good news? With a bit of planning and realistic expectations, the process can be smooth, stress-free, and even surprisingly manageable.

Quick Prep Is Your Friend

Buyers want to see a tidy, inviting space, but it doesn’t need to be spotless. Focus on the main areas: kitchen counters, floors, and the primary bedroom. Keep a couple of baskets handy to toss toys, books, and kid clutter into before you head out.

Plan Short, Simple Outings

Showings usually last 20–30 minutes. Have a few quick go-to activities ready — a walk to the park, a drive-through treat run, or a nearby indoor play spot. The goal is something easy that gets everyone out of the house fast.

Expect Some Flexibility

Buyers may request showings with short notice. It helps to keep the home “show-ready light”: beds made, dishes rinsed, toys contained. Don’t aim for perfection — consistency is enough.

Keep Safety Top of Mind

Before leaving, double-check that medications, cleaning supplies, and valuables are stored safely. Turn off candles and secure pets.

After the Showing

Once you return, reset the house to “family mode.” Let the kids pull their toys back out — you’re still living here, and buyers understand that.

The Bottom Line

Showings with kids can feel like a juggling act, but with simple systems and realistic expectations, your family can get through the process smoothly and successfully.

As the new year gets underway, I’d like to wish you and your loved ones a happy new year, filled with health, stability and peace of mind.

With 2025 now in the rearview mirror, this is a good moment to reflect on the trends that shaped Canada’s mortgage and housing markets, and to look ahead at what 2026 may bring.

2025 recap: some relief, but no return to normal

If 2024 marked the turning point for interest rates, 2025 was about gradual relief and adjustment.

The Bank of Canada lowered its policy rate four times in 2025, bringing it down from 3.25% to 2.25% by late October, where it held through year-end. Prime rates followed, providing gradual relief for variable-rate borrowers.

Inflation stayed close to the Bank of Canada’s 2% target for much of the year, easing pressure on everyday expenses and allowing interest rates to trend lower without reigniting price concerns. While economic growth remained uneven, Canada largely avoided a sharp downturn, supported by resilient employment and steady consumer spending.

Lower borrowing costs brought more buyers back into the housing market, particularly through the spring and summer. Data from the Canadian Real Estate Association showed national home sales trending higher compared with early 2025, while prices posted modest year-over-year gains. Affordability remained stretched in many regions, pointing to a market that was regaining balance rather than accelerating sharply.

Governments and regulators remained focused on housing supply and affordability throughout 2025. Key measures in Budget 2025 included the expansion of the GST rebate for new purpose-built rental housing and changes aimed at improving access to insured mortgages, both intended to support housing construction and ease affordability pressures over time.

Looking ahead to 2026: a steadier year, with fewer surprises

As 2026 gets underway, the outlook is measured but constructive.
Most economists expect the Bank of Canada to remain on hold for much of the year, with limited room for further rate cuts unless economic conditions weaken meaningfully. Mortgage rates may drift modestly lower over time, but large declines are unlikely, pointing to a more stable rate environment than in recent years.

Housing activity is expected to remain steady rather than surge. Pent-up demand and gradual affordability improvements should support sales, but headwinds remain. According to Royal LePage, policy uncertainty, shifting immigration patterns and softness in parts of the condominium market could weigh on activity in some regions, while tight supply should continue to limit broad price declines.

As a result, price growth is expected to be modest and highly regional.

For many households, 2026 will be a year of decision-making, especially for those renewing mortgages that were taken out at much lower rates. Planning ahead and reviewing options early will be especially important.

Here to help you plan for the year ahead

Whether you’re thinking about buying, renewing or refinancing, or simply want a clearer picture of your options, I’m here to help.

A short conversation early in the year can often make a big difference later on. If you’d like to review your situation or talk through what 2026 could look like for you, feel free to reach out anytime.

Here’s to a steady and successful year ahead!

Paul Macara
Mortgage Professional
(250) 857-4741
paul@macaramortgages.com

Vancouver Island has become one of the most desirable places to live in Canada — and the real estate numbers consistently reflect that. While many BC markets experience fluctuation, the Island continues to show stability, demand, and long-term growth.

Strong Lifestyle Appeal

People are prioritizing quality of life more than ever, and the Island delivers: mild weather, access to nature, walkable communities, and a slower, family-friendly lifestyle. This steady demand supports local housing values year-round.

Population Growth & Migration

Vancouver Island consistently attracts buyers from the Lower Mainland, Alberta, and across Canada. With limited land for new development in many areas, demand often exceeds supply — keeping the market resilient.

Diverse Housing Options

From urban condos in Victoria to new-build neighbourhoods in Langford and family homes in Saanich and Nanaimo, the Island appeals to a wide range of buyers. This variety helps balance the market and avoid the extreme swings seen elsewhere.

Strong Local Economy

Government, tech, tourism, education, and healthcare sectors keep the economy stable. This creates reliable long-term demand for housing, even during national slowdowns.

Moderate Price Growth vs. Mainland Spikes

Compared to the Lower Mainland’s volatility, Vancouver Island has seen more sustainable growth. This positions it as a safer long-term investment for both homeowners and buyers seeking stability.

The Bottom Line

Vancouver Island continues to outperform because it offers something rare: strong demand, steady growth, and a lifestyle people actively choose. Whether you’re buying, selling, or investing, the Island remains one of BC’s most reliable markets.

Whether you already own a home or you’re thinking about buying or renovating this year, Budget 2025 may affect the options available to you. Some programs are ending, others are being introduced, and a few could make borrowing or planning a little easier, especially for first-time buyers.

My goal is to help you make sense of what has changed and where there may still be opportunities. Here’s a quick look at what could matter most for your plans in the coming year, and how I can help if any of these apply to you.

The Underused Housing Tax is being eliminated

The 1% tax will no longer apply starting with the 2025 tax year. If you own a property through a corporation or trust, this means no more annual UHT filings. Just keep in mind that filings from 2022 to 2024 still need to be completed. If you’re not sure whether you’re up to date, I can help point you in the right direction.

No federal loan for secondary suites

The government has cancelled the Secondary Suite Loan Program for basement or laneway units. But there are other options that might work, such as purchase-plus-improvements programs or insured refinances. If you’ve been considering adding a suite, we can explore what’s still available.

GST rebate confirmed for first-time buyers

First-time buyers of new homes up to $1 million will no longer pay federal GST. Homes between $1 million and $1.5 million will qualify for a partial rebate. This could mean up to 5% in savings. If eligibility is a concern, especially around the first-time buyer rule, I can help you confirm whether you qualify and what documents you’ll need.

Funding for affordable housing and rentals

The new Build Canada Homes program will direct $13 billion toward modular-built and non-market housing using federal land. It isn’t a consumer program, but over time it’s designed to increase supply and ease pressure in higher-cost regions.

Energy efficiency rebates winding down

The Canada Greener Homes Grant has been discontinued, and related loans are no longer taking applications. Before starting a renovation, it’s still worth checking what provincial or municipal rebates may be available. There may also be financing options that make improvements more affordable, including for energy-efficient upgrades.

More focus on financial fraud protection

Budget 2025 also calls for stronger fraud safeguards within the financial system. The government wants banks to enhance consumer protections and give Canadians more control over their accounts. If you ever get a message or email that doesn’t look right, feel free to reach out, I can help you verify before you share anything.

Support for rental housing expansion

The annual limit on Canada Mortgage Bonds has increased to $80 billion to help finance multi-unit rental housing. This won’t affect personal mortgages, but it should support rental availability and stability in the long term.

Planning ahead? I’m here to help

Budget 2025 brings changes that could shape borrowing decisions in the year ahead for both current homeowners and those planning to buy or renovate. Some programs have shifted and a few new ones may offer opportunities depending on your situation.

If you’d like to understand how the new rules may affect your plans, feel free to give me a call or reach out anytime. I’d be happy to go over the options and what’s still available.  

Paul Macara
Mortgage Professional
(250) 857-4741
paul@macaramortgages.com