In the B.C. real estate market, a trend towards shorter-term fixed-rate mortgages, particularly three-year terms, is emerging as homeowners anticipate a decline in interest rates. While the Bank of Canada is expected to announce rates soon, the market faces a significant supply issue, limiting housing availability. In Vancouver, despite a lack of frenzied bidding, properties are still selling at or above asking prices. Experts advise potential buyers to be realistic about budgets and seek qualified mortgage assistance, while remaining optimistic about future market conditions.