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REAL ESTATE MARKET SNAPSHOT |
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The Vancouver Island Real Estate Board (VIREB) reports a strong start in our Cowichan Valley real estate market area with sales, listings and average sale price all up for single family homes over numbers in January 2024. Healthy sales were reported board wide for single family detached properties and townhomes. Condo sales changed little over numbers from January of last year. |
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While the market appears stronger than it was last year, a shifting administration in the United States brings uncertainty moving forward. The British Columbia Real Estate Association (BCREA) postulates a 25% tariff on imports to the United States would likely have a serious affect the Canadian economy which could lead to a temporary decline in BC’s real estate market and markets across the country. Once things adjust however, we could see mortgage rates drop substantially and release pent up demand. BCREA takes a deeper dive into how US tariffs may impact us. Get more info here:
👉BCREA's Market Intelligence Report.
For a closer look at our Vancouver Island Real Estate Market, check out VIREB's latest Market Update👇 |
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Tariff Uncertainty & Your Mortgage: What You Need to Know! |
The mortgage and real estate markets are always evolving, and global events—like the latest round of U.S.-Canada tariff talks—can have ripple effects. As a mortgage broker, my focus is on how these developments impact borrowing costs, mortgage rates, and homeownership opportunities. | Wait! What Just Happened? |
Recently, the U.S. announced 25% tariffs on most Canadian goods (10% on energy), prompting Canada to respond with its own 25% tariffs on $155B of U.S. products. However, both countries have agreed to a 30-day pause to negotiate further. While this isn’t a resolution, it gives the markets breathing room—and for homebuyers, this could mean new opportunities. |
How could this impact Mortgages?
Fixed Mortgage Rates: Falling & Creating Opportunity
- Canada’s 5-year bond yield, a key driver of fixed mortgage rates, recently hit a 3-year low.
- As uncertainty rises, investors are shifting money into bonds, pushing fixed mortgage rates lower—a major win for buyers and homeowners looking to refinance.
Variable Rates: Potential for Further Drops - The Bank of Canada (BoC) is closely watching economic conditions, and rate cuts could be on the horizon.
- Some experts predict up to six rate cuts by October, which would bring the policy rate to 1.5%—a huge benefit for those in variable-rate mortgages or considering one.
| What this means for Homeowners & Buyers
- If You're Buying: Low mortgage rates means stronger buying power. With home prices stabilizing and pent up demand in many markets, now could be an excellent time to make a move.
- If You're Refinancing or Looking for a Better Rate on Renewal: Lower rates create an opportunity to reduce monthly payments or access home equity at a lower cost - lets look at your options!
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Bottom Line: A Market for Smart Buyers
While tariff uncertainty continues, one thing is clear: Low mortgages create opportunities for home buyers and homeowners. If you're thinking about buying, refinancing, or renewing, let's strategize to secure the best financing options for your situation. |
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Rates & Info Courtesy of Janette Roch at Dominion Lending Get in touch with her today to explore your mortgage options! |
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January 31-February 9 |
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Cowichan Performing Arts Centre 2687 James St, Duncan |
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February 13-15 |
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Valentines Theater Show Centennial Hall, Lake Cowichan |
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February 17 |
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Cowichan Community Centre 2685 James St. Duncan |
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Highlights from January 2025 |
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| 😍FEATURE FAVORITE😍
The Crow and Gate Pub! Birthday lunch celebrating our beautiful Jenney Massey at one of our favorite places, the Crow and Gate Pub in Yellowpoint. We highly recommend reservations as this place is typically packed in spite of it's out-of-the way location. Always great service & fantastic food!
Check it out! https://crowandgate.ca |
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OVERNIGHT RATE UPDATE Bank of Canada reduces policy rate 25 basis points
On January 29 The Bank of Canada reduced its target for the overnight rate to 3%. The next scheduled date for announcing the overnight rate target is March 12, 2025 Read more: BOC Press Release |
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9971 Echo Heights Chemainus NEW! Ocean Views in Chemainus! Open concept chalet style home with soaring ceilings. |
| 984706 |
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 | 9450 Marble Bay Rd
Lake Cowichan NEW! Stunning west coast SIP construction contemporary home in the heart of Woodland Shores. |
| 984684 |
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 | 6049 Riverbottom Rd
Duncan Impressive 300 ft of gorgeous Cowichan River frontage & off grid cabin on 4.40 Acres. |
| 985431 |
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 | #2-6172 Alington Road, Duncan
Immediate possession possible! 2 bdrm + den, 2 bath 1,949 sq.ft. home with loads of space! |
| 975538 |
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6031 Paldi Road, Duncan Spectacular country estate on 4.94 private Acres! 2 homes nestled perfectly among the trees. |
| 975975 |
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4504 Bench Road Cowichan Station Modern convenience meets old world charm in this extensively renovated farm house! |
| 970959 |
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THINKING OF MAKING A MOVE? LET'S CHAT! |
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 | ALLY EARLE * PREC
Team Leader, Associate Broker & Real Estate Professional *denotes Personal Real Estate Corporation |
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JEN PIKE Team Member Real Estate Professional
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 | JENNEY MASSEY
Team Member Real Estate Professional
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Reach out Today! Let us help make your Real Estate Goals a reality! |
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250-710-3181 |  |
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Pemberton Holmes Real Estate
