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.
Toronto New Homes Market, Mortgage Rates Guide, and Ontario Real Estate Trends
In this episode, we begin with an introduction to the podcast, followed by a sponsor message from Real Approved Inc. We delve into the latest Toronto-area new homes market report and examine the economic factors influencing it. The discussion then turns to Canadian mortgage rates, providing a renewal guide and exploring the impacts of interest rate changes. An overview of different mortgage types and their benefits is presented, followed by an analysis of real estate market trends in Ontario, including the rental supply gap. We discuss the Bank of Canada's recent interest rate decisions and introduce Equifax's new tool for lenders. The episode concludes with closing remarks and a sponsor reminder.
Key Points
- The Toronto-area new homes market experienced a significant downturn in February, with nearly 17,000 new and pre-construction condo units remaining unsold.
- High building costs and economic uncertainty have kept benchmark condo prices around a million dollars, making homeownership a daunting task for many families.
- Ontario faces a projected rental supply gap of over 200,000 units in the next decade, driven by high immigration and insufficient purpose-built rental projects.
Chapters
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Transcript
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