”After withstanding some turbulent times over the past 12 months, Canada’s housing market looks like it may be reverting to a degree of normality at last – a development that would come as welcome news for the country’s mortgage industry.”
” The height of the COVID-19 pandemic saw home prices and sales activity skyrocket in many major markets before plunging dramatically in 2022 as the Bank of Canada waged war on runaway inflation through a spate of aggressive rate hikes.”
RBC believes the market correction of the past year still has some way left to go – but an end is in sight, with activity likely to bottom out around the spring, according to assistant chief economist Robert Hogue.
”In a March report, he indicated that national prices would level out in the following months, although around half of its forecasted 15% peak-to-trough decline across the country is still to come.”
“I think Canadians adapt very quickly,” he said. “And the rates aren’t high. They’re just high compared to what they were, but historically, they’re still very low.”
”That growing familiarity with higher rates – and the fact that the Bank of Canada appears to have reached the endpoint of its rate-hiking trajectory – could signal a robust spring market, Trafford said, although it remains to be seen just how quickly the pace picks up.”
Source: To read the full article published on the website Canadian Mortgage Professional (CMP) click the link HERE
”You’re almost at the finish line… you’ve organized an open house and had numerous showings, and now, your real estate broker has finally presented you with a promise to purchase! However, you may not be completely satisfied with the offer. What should you do? You have three choices: you can make some compromises and accept
”How to calculate your debt-to-income ratio Many prospective homeowners or parents who want to help their child buy their first home are likely asking how they can do that themselves. It’s a crucial indicator for analyzing your financial health, as banks and financial institutions consider it before agreeing to a loan. Let’s dive in!” What
”So, you found the perfect condo in the perfect neighbourhood! Congratulations! However, did you know that divided and undivided co-ownerships are not the same thing? Learn more about the differences!” The difference between divided and undivided co-ownership Divided co-ownership is the most well-known type of condo. What you are buying is a private portion (your condo
