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.
Housing Affordability, Mortgage Strategies, and Ontario Credit Union Growth
The episode begins with an introduction and welcome, followed by a mention of the sponsor, Real Approved Inc. It addresses housing affordability concerns prevalent among Canadians, referencing a report by RBC Economics on related mortgage issues. Strategies for managing higher mortgage payments are discussed, along with the growth observed in Ontario's credit union sector. Expectations of potential rate cuts from the Bank of Canada are considered, alongside broader economic challenges and their implications. The episode concludes with closing remarks and a reminder of the sponsor.
Key Points
- Nearly nine in ten Canadians are worried about housing affordability and security, a concern that spans age, region, and political lines.
- Younger Canadians are particularly disheartened about homeownership prospects, with only 26 percent of Gen Z respondents feeling confident they can afford a home in their desired area within the next five years.
- Those renewing mortgages between 2025 and 2026 could face payment increases ranging from 15 to 40 percent, potentially pricing some out of their homes.
- Credit unions in Ontario have seen a notable growth in assets driven by increased demand for mortgages and commercial loans, despite broader economic challenges.
- The Bank of Canada is projected to cut rates by another 25 basis points in October, influenced by a softening labor market and slowing GDP growth, though some experts predict a rate hold may be more probable.
Chapters
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| 11:01 | |
| 13:05 | |
| 14:18 |
Transcript
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