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.
Episode 153: GTA Home Sales Post-Rate Cut, BoC Predictions, and Rising Mortgage Delinquencies
In this episode, we begin with an introduction and a sponsor message by Real Approved Inc. We then explore Greater Toronto Area home sales and market trends following a recent rate cut. The discussion turns to the Bank of Canada's upcoming key lending rate announcement, with expert predictions on its potential impact. We examine how mortgage renewals and interest rates are influencing the market and address concerns over rising mortgage delinquency rates. The episode also highlights RESCON's findings on new home costs and taxation. We delve into FSRA's enforcement actions and its role in financial services. The episode concludes with closing remarks and a sponsor reminder by Real Approved Inc.
Key Points
- Home sales in the Greater Toronto Area surged by 40.1 percent year-over-year in November, driven by lower borrowing costs.
- The Bank of Canada is expected to announce another rate cut on December 11, with economists debating between a 25 and 50 basis point reduction.
- A recent study by the Residential Construction Council of Ontario revealed that taxes now account for nearly 36 percent of the cost of new homes in the province, contributing significantly to housing affordability issues.
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Transcript
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