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.
Canadian Mortgage Concerns, Home Sales Slowdown, and Rate Cut Impacts
In this episode, we begin with a welcome and an introduction, followed by a sponsor message from Real Approved Inc. We examine OSFI's mortgage concerns alongside insights from Equifax on payment increases. The discussion covers mortgage defaults, regional impacts, and OSFI's mitigation measures. We review the outcomes of BCFSA's investigation into unauthorized mortgage brokering, the slowdown in Canadian home sales and housing starts, and a case study on a Hamilton home sale loss. The implications of the Bank of Canada's rate cut and the Prime Minister's foreign investment strategy for rental apartments are explored. The episode concludes with closing remarks and a sponsor message.
Key Points
- OSFI's Annual Risk Outlook has raised concerns about significant mortgage payment shocks as more than one-third of Canadian mortgages will need renewal by the end of 2026, despite recent interest rate cuts by the Bank of Canada.
- The BC Financial Services Authority has uncovered unauthorized mortgage brokering activities, leading to severe penalties and license cancellations for those involved, highlighting the importance of working with registered professionals.
- Canadian home sales have seen their largest drop in nearly three years, influenced by economic uncertainties and a trade war, impacting both sales volume and home prices.
Chapters
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Transcript
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