Episode 152: Fixed Mortgage Rate Hikes, RE/MAX Outlook, and Ontario Market Buying Opportunities
In this episode, we start with an introduction and a sponsor message from Real Approved Inc. We then discuss the recent trend of banks raising fixed mortgage rates and the factors influencing these changes. Seasonal rate fluctuations and market expectations are explored, followed by RE/MAX Canada's market outlook and new rule changes anticipated for 2025. We delve into broker strategies and the role of multi-unit residential development loans. A motion to redefine affordable housing and the federal housing plan are examined. We also cover Ontario real estate market trends, including specific price reductions and buying opportunities. The episode concludes with closing remarks and a sponsor reminder from Real Approved Inc.
Key Points
- Canada's largest banks have raised fixed mortgage rates despite a drop in bond yields, driven by a mix of market conditions and previous bond yield increases.
- Upcoming rule changes in December will allow first-time homebuyers to amortize their mortgages over 30 years and increase the maximum home value eligible for an insured mortgage to $1.5 million.
- Ontario's real estate market is experiencing a slowdown, with many homes selling for less than their asking prices, presenting opportunities for potential buyers.
Chapters
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Transcript
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