As 2024 draws to a close, I’ve taken some time to reflect on the milestones, challenges, and triumphs of this past year. It’s been a year filled with opportunity, hard work, and meaningful connections — both in the mortgage industry and in my personal journey.
The Year in the Mortgage Industry
The Canadian mortgage landscape saw significant changes in 2024, reflecting shifts in affordability and policy aimed at supporting homeowners and buyers:
• Higher Insured Mortgage Cap: The limit for insured mortgages increased from $1 million to $1.5 million, enabling buyers in high-cost areas to access insured mortgages with lower down payments. This change allows more flexibility for buyers, particularly in markets where housing prices remain high, making homeownership more accessible.
• Amortization Flexibility: First-time homebuyers and those purchasing newly built homes now have the option of 30-year amortization periods. While this reduces monthly payments, it also comes with higher interest costs over time.
• Renewal Rule Updates: Borrowers renewing their mortgage with a new lender no longer need to qualify with the stress test. This policy fosters competition, making it easier for homeowners to secure better rates and terms at renewal.
• Market Dynamics: Interest rates began to ease after a challenging 2023, offering some relief to borrowers. At the same time, housing shortages and high demand in many regions kept prices stubbornly high.
• Policy Updates: Anti-money laundering regulations became a major focus, with new rules enhancing transparency in the mortgage process. Brokers and clients alike adjusted to stricter compliance requirements.
• Trends in Lending: Variable-rate mortgages gained popularity again as borrowers anticipated continued rate reductions. Flexible solutions, such as HELOCs and blended mortgage products, were also in high demand.
While navigating these industry changes, I also focused on setting personal goals that aligned with both my values and my aspirations for the future.
My Personal Journey
This year, I set three significant goals for myself: one for health, one for work, and one for giving back. Each goal helped me grow in ways I’m incredibly proud of:
1. Health Goal: I committed to consistent activity — whether through soccer, hiking, or running — and achieved my fitness targets while building a routine that supports my well-being.
2. Work Goal: I set an ambitious work goal, pushing myself to new limits. While I didn’t fully reach my work goal, the effort, the workload I managed, and the incredible clients I helped have set the stage for even greater things ahead. I’m already gearing up for an even higher goal in 2025!
3. Charitable Goal: Giving back has always been close to my heart. This year, I surpassed my goal through initiatives as a director of the Connected to the Community (CTTC) board at MOCO and by supporting causes my family cares deeply about. Get ready for 2025, Bullshooters will be a big one!
Setting goals isn’t just about the end result; it’s about the progress, lessons, and growth along the way. As I look to 2025, I’ve already set the bar even higher and am excited to see where the next year takes me.
A Note of Gratitude
At its core, my work is about people. It’s about listening to your stories, finding solutions, and seeing your dreams take shape. There’s nothing more fulfilling than hearing the excitement in a client’s voice when I say, “We can do that.”
To my clients, thank you. Your trust, your referrals, and your belief in my work inspire me daily. Every success I’ve celebrated this year is rooted in your support, and I’m so grateful to be part of your journey.
I also want to take a moment to express my deepest appreciation for my family and friends. Your unwavering support, encouragement, and belief in me have been a constant source of strength. Whether celebrating milestones or navigating challenges, your presence in my life makes all the difference. You’ve been my rock, and I’m so thankful to have each of you by my side.
Special shout-out to the folks at MOCO — an incredible group of top-tier individuals who consistently push each other to achieve greatness. My team has been my greatest support, providing unmatched knowledge, insight, and motivation throughout this year.
Looking Ahead
As we step into 2025, I’m energized by opportunities. Whether you’re looking to buy your first home, refinance, or explore new investment opportunities, I’m here to guide you through every step. Let’s make 2025 a year of possibilities, growth, and connection — together!
Cheers to 2024: the challenges we faced, the progress we made, and the goals we achieved.