Naru Menon’s Blog
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Sales Surge: CREA Sees Strong Finish to 2025
In September 2025, Canadian home sales rose 5.2% yearly, reaching 39,700 transactions, the busiest September since 2021. CREA upgraded its 2025 forecast, now expecting 473,093 homes to sell nationally, ↓ 1.1% yearly. The national avg home price ↑ 0.7% yearly to $676K, though CREA predicts a slight 1.4% drop for 2025. Despite improved sales, affordability…
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How Canadian Housing Beats Economic Headwinds
Slide 1 Canada’s economy struggled in 2025, but housing surprisingly stood out as a bright spot. Slide 2 🏠 Housing investment surged thanks to Bank of Canada rate cuts and purpose-built rental support. Slide 3 📊 TD Economics raised its 2025 housing growth outlook, despite cost pressures and regional disparities. Slide 4 ⚒️ Canada must…
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What are the penalties for breaking a variable mortgage versus a fixed one?
Breaking a mortgage results in a prepayment penalty, which differs for fixed and variable mortgages. Variable-rate mortgage penalties are usually three months' interest, while fixed-rate penalties involve a more complex interest rate differential calculation. To reduce penalties, consider options like porting your mortgage, waiting until the term ends, maximizing prepayments, and comparing market rates. Always…
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Burnaby Open House Secrets: Win Big with Naru Menon!
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First-Time Homebuyer Tips: Here’s What You Need to Know
First-time homebuyers should prepare by budgeting for mortgage, taxes, insurance, and maintenance. Getting pre-approved for a mortgage clarifies affordability. Research local markets and factor in closing costs. Consider home inspections to avoid surprises. Decide between buying resale or building new, weighing costs and energy efficiency. Plan for future needs, resale value, and ongoing maintenance. Take…
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Why Bank of Canada May Delay Cuts
GDP ↓ 1.6% in Q2, mostly from weaker exports, while domestic demand stayed resilient and masked headline weakness. Consumer spending ↑ 4.5% and housing investment ↑ 6.3%, showing earlier rate cuts are supporting rate-sensitive sectors. Markets price 48% chance of a September cut, but pending labour and inflation data may delay action. Policy impact needs…
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Check out this new 4 beds-4 baths listing at 33 79 Morrey Unit 16, Burnaby
PREMIUM LOCATION | LOUGHEED TOWN CENTRE!Discover this beautiful, largest corner-unit townhome nestled in a quiet, well-maintained complex with low strata fees. Thoughtfully cared for, this spacious home offers a functional layout featuring 3 bedrooms and 2 bathrooms upstairs, plus a versatile lower-level bedroom with its own ensuite – perfect for guests, in-laws, or a private…
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Renfrew-Collingwood Offers Stable Investor Returns
Two-bedroom furnished rentals average $2,524, offering more affordable investment options. Steady rental activity supports consistent occupancy rates. Mid-range pricing allows investors to capture broader tenant demographic. Higher affordability per square foot attracts long-term renters. Investors can achieve stable cash flow with moderate risk exposure.
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Will British Columbia’s Market Regain Balance?
The Vancouver area still suffers from high prices and constrained supply, especially in core zones. Migration and immigration remain strong, supporting housing demand despite rate pressures. Suburban and exurban markets show more value-seeker activity compared with the downtown core. New-home starts remain elevated but delivery timelines and cost pressures limit oversupply. Outlook: Home values in…
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Your Complete Guide to Mortgage Basis Points
Basis points (BPS) are a key measurement in mortgage interest rates, representing 1/100th of a percentage point (0.01%). They help clarify small rate changes, which can significantly impact mortgage payments. For instance, a 25 basis point increase on a $300,000 mortgage can raise monthly payments by $42.94. Basis points are crucial for understanding shifts in…