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.
GTA Market Shifts, Mortgage Rates, and Year-End Price Forecasts
In this episode, we begin with a welcome and an overview, followed by a sponsor message from Real Approved Inc. We discuss the surge in bond yields amid economic uncertainty and its impact on mortgage rates. The conversation then shifts to real estate market dynamics, focusing on the decline in home sales and emerging non-traditional funding trends. We examine market shifts and price variations in the Greater Toronto Area. The episode also includes a market forecast, exploring potential price increases by year-end. We conclude with closing remarks and a sponsor message from Real Approved Inc.
Key Points
- The recent surge in Canada's five-year government bond yield has led to higher fixed mortgage rates, complicating matters for potential homebuyers.
- First-time home buyers are increasingly relying on non-traditional funding sources like non-mortgage debt and gifts, which can lead to long-term financial instability.
- With average selling prices for resale homes in the Greater Toronto Area dropping, particularly in condos and detached homes, buyers now have more options and bargaining power in the market.
Chapters
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Transcript
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