Ontario Mortgage & Real Estate Insights Podcast
We cover the daily developments, trends, and regulatory changes affecting the industry, powered by an AI Steve Hamoen. Get insights sourced from reputable news outlets to help you stay informed and make well-informed decisions.
Toronto Home Affordability, Mortgage Rate Trends, and Alternative Lending Opportunities
In this episode, we kick off with an introduction to Ontario Mortgage & Real Estate Insights. A sponsor message from Real Approved Inc. follows. We explore the salary requirements for buying a home in Toronto, providing a detailed look at affordability. The discussion then shifts to the Bank of Canada's influence on mortgage rates and the current trends in variable versus fixed mortgage rates. We assess the status of non-bank mortgage lenders and the effects of British Columbia's short-term rental regulations. The episode also highlights opportunities in the alternative lending market for brokers. We wrap up with closing remarks and another sponsor acknowledgment from Real Approved Inc.
Key Points
- Home prices in Toronto have slightly decreased, making it more affordable for buyers as the required annual income to purchase a home has dropped.
- Variable mortgage rates are currently higher than fixed rates, creating a unique situation where traditional advice on choosing between the two may not apply.
- There is a noticeable shift towards uninsured mortgages among non-bank lenders, with a significant increase in delinquency rates in this segment, indicating financial strain for some borrowers.
Chapters
| 0:00 | |
| 0:21 | |
| 0:42 | |
| 1:49 | |
| 3:15 | |
| 6:17 | |
| 9:41 | |
| 12:32 | |
| 14:38 |
Transcript
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