Lower interest rates can make it easier for people to buy a home.
All in Rates
Lower interest rates can make it easier for people to buy a home.
Consumer confidence is a valuable tool for predicting economic growth but a poor predictor of home values.
As we look towards 2023, it is vital for Canadians to be aware of the potential risks in real estate and to take steps to protect themselves and their investments.
We've seen a lot of changes in the Hamilton housing market over the last few years. The impact of the pandemic-induced low interest rates pushed demand through the roof. Now, a near tripling of mortgage rates has contributed to falling home prices.
The combination of higher borrowing costs, economic uncertainty, rising supply of active listings, and government policies aimed at cooling the housing market have all contributed to the rapid drop in property values in Toronto. However, it's important to keep in mind that the real estate market is complex and that the impact of these factors can vary from area to area.
The outlook for the Vancouver property market can be considered uncertain in the short term, with several variables that could potentially impact the market. It is essential to stay informed and seek professional advice before making any investment decisions.
A summary of housing-related goodies in the Canadian federal budget, and their likely impact on the market.
Higher U.S. interest rates will pressure Canada to match or devalue the Canadian dollar