Episode 63: Canada's Mortgage Industry and Housing Outlook for 2024-2025 with Kristine Sweder
Summary
There is so much transition going on in real estate! Interest rates are high, and so is difficulty qualifying for a mortgage. With elections on both sides of the border in late 2024, I have asked Canadian Mortgage Broker Kristine Sweder to join me today. Her innovative housing ideas, and real estate investment solutions, she shares her projections for Canada's mortgage industry and how we can get more housing going forward!
Listen to full episode :
Meet Our Guest!
Kristine Sweder, a seasoned professional in the mortgage industry, stands as a testament to dedication, expertise, and compassion. With almost two decades of experience navigating the complexities of the mortgage landscape. Kristine has not only built a successful career but has also become the proud owner and director of Triunity Mortgage Group, a thriving mortgage group that reflects her commitment to excellence.
Born and raised in a close-knit community, Kristine discovered her passion for finance early on. Armed with a strong work ethic and an innate ability to connect with people, she entered the mortgage industry almost 20 years ago. Throughout her career, Kristine has weathered economic fluctuations and industry changes, emerging as a reliable expert in her field.
Beyond her professional achievements, Kristine is a proud mother of a grown child, a testament to her ability to balance the demands of a challenging career with the joys and responsibilities of motherhood. Her dedication to her family extends beyond her own home, as she is known for being a reliable source of support and guidance for her colleagues and friends.
As Kristine continues to make strides in the mortgage industry, her legacy is not just one of professional success but also of compassion and advocacy. Her story serves as an inspiration to those around her, a reminder that success is not just measured in numbers but in the positive impact one can have on the lives of others.
This week’s blog post:
Welcome to my latest blog post, dear readers! If you're navigating the ever-changing waters of Canada's mortgage industry or curious about the housing outlook for 2024-2025, you've landed in the right place. I'm Dr. Jennifer Salisbury, your guide through the complexities of housing and mortgage landscapes in both the US and Canada.
Introduction
In this episode, we delve deep into the heart of Canada's mortgage industry and its housing outlook with none other than Kristine Sweder, a luminary in the Canadian lending space. Kristine, a licensed mortgage broker with Triunity Mortgage Group under the Dominion Lending Centers franchise, brings a wealth of knowledge and experience to our discussion.
The Canadian Mortgage Landscape
Kristine and I explored a variety of topics, including the impact of interest rates on lending, the intricacies of the stress test in Canada, and strategies for mortgage prepayment. With interest rates on the rise, the affordability of housing has become a pressing issue for many Canadians. Kristine shared insights into how the stress test, designed to prepare borrowers for higher rates, is affecting potential homeowners.
Strategies for Mortgage Freedom
A particularly enlightening part of our conversation was Kristine's advice on utilizing mortgage terms and prepayment privileges to shorten the amortization period. She shared a success story of a couple who, through savvy financial planning and prepayments, are on track to be mortgage-free in just under six years.
Investment and Development Insights
The discussion also covered the evolving landscape for real estate investors and developers, highlighting changes in lending practices and government initiatives aimed at boosting housing supply and affordability. Kristine emphasized the importance of staying informed and proactive in financial planning, especially for those looking to invest in real estate or navigate their mortgage renewals amidst fluctuating interest rates.
Looking Ahead: The Future of Housing in Canada
As we look towards the future, Kristine offered her perspective on the challenges and opportunities that lie ahead in the Canadian housing market, including the potential effects of upcoming elections on housing policies and the importance of preparation and financial literacy for homeowners and investors alike.
Conclusion: A Call to Action for Homeowners and Investors
Our conversation concluded with a call to action for listeners to educate themselves about their financial options and prepare for the future. Whether you're planning a mortgage renewal, considering real estate investment, or simply looking to manage your finances more effectively, the key is to start early and seek professional advice.
I'm incredibly grateful to Kristine Sweder for sharing her expertise with us. For those looking to dive deeper into the topics we've discussed or seeking personalized advice, reaching out to a knowledgeable mortgage broker like Kristine can provide valuable guidance and support.
Thank you for joining me on this journey through the mortgage industry and housing outlook in Canada. Stay tuned for more insights and discussions on "My Life as a Landlord." Your engagement and curiosity fuel this show, and I look forward to exploring more topics that matter to you in future posts.