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.
Industry Updates, Debt Trends, and Mortgage Rate Insights
In this episode, the introduction includes a sponsor message from Real Approved Inc. The discussion begins with RECO's actions against iPro Realty and the broader implications for the real estate industry. RBC's report on Canadian household net worth and emerging market trends is analyzed. We explore debt trends, focusing on servicing costs and debt-to-income ratios. Insights from Equifax Canada's survey on refinancing and lender switching are shared. The episode includes a mortgage rate update, highlighting the best fixed and variable rates currently available. The episode concludes with closing remarks and a sponsorship reminder from Real Approved Inc.
Key Points
- RECO is seeking an injunction to freeze the assets of iPro Realty and its co-founders following a $10.5-million shortfall from consumer and commission trust accounts.
- The Royal Bank of Canada's findings show that while financial markets bounced back, the housing market slowdown has curbed net worth gains, with a notable increase in debt-servicing costs expected.
- A recent Equifax Canada survey indicates that more than half of Canadian mortgage holders are considering switching lenders or refinancing upon renewal, driven by younger borrowers and newcomers seeking better credit-building tools.
Chapters
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| 7:08 | |
| 10:45 | |
| 12:56 |
Transcript
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