Has the Mortgage Renewal Wave Peaked? And Who Is Moving to Victoria?

Join Jane Johnston, Andrew Plank, and Jen Lowe today at 3 PM for this week’s episode of The Greater Victoria Real Estate Show, where we discuss two major trends affecting the Victoria BC real estate market: mortgage renewal decisions after the COVID-era five-year fixed-rate cycle, and Greater Victoria’s long-term population growth.Five years ago, many Canadian homeowners locked into low five-year fixed mortgage rates during COVID. Over the past year, that renewal wave created significant activity in the mortgage industry — but now that it has largely passed, what are borrowers choosing next? Are people moving into fixed rates, variable rates, shorter mortgage terms, or waiting for more clarity?We’ll also look at one of the most important long-term trends shaping Greater Victoria real estate: continued net population growth over the past 24 years. Where are people moving from, why are they choosing Victoria and Vancouver Island, and where are some people moving when they leave?In this episode, we discuss Victoria BC real estate trends, Greater Victoria housing market updates, mortgage renewal trends in Canada, fixed vs. variable mortgage rates, moving to Victoria BC, Vancouver Island migration, population growth in Victoria BC, and what buyers, sellers, and homeowners need to know in today’s market.Follow The Greater Victoria Real Estate Show for weekly conversations on local real estate, mortgages, market statistics, buyer and seller strategy, relocation trends, and practical advice for anyone thinking about buying, selling, investing, or moving to Victoria BC.