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.
Ontario Housing Starts, Interest Rates, and RECO Changes
The episode begins with an introduction by Sandy MacKay, followed by a sponsor message from Real Approved Inc. The discussion then moves to housing start figures in Ontario and Windsor, exploring the factors behind recent declines. A TD survey reveals how Canadians are adjusting their spending in response to changing mortgage rates. Recent interest rate developments from the Bank of Canada are discussed, along with October home sales data from the Canadian Real Estate Association. The province's plan to take over the Real Estate Council of Ontario is examined, and predictions for Ontario's best mortgage rates in 2025 are offered. The episode concludes with closing remarks and another sponsor mention.
Key Points
- Housing starts in Windsor saw a dramatic 63 percent decline in October compared to last year, reflecting broader challenges across Ontario and Canada.
- Nearly half of Canadian homeowners anticipating mortgage renewals are preparing for higher monthly payments, with many cutting back on expenses and even considering selling their homes.
- The Bank of Canada is expected to maintain its current interest rate through next year despite mixed inflation signals, suggesting a cautious approach amidst economic uncertainties.
Chapters
| 0:00 | |
| 0:21 | |
| 0:41 | |
| 3:19 | |
| 6:10 | |
| 9:07 | |
| 11:55 | |
| 14:27 | |
| 16:37 |
Transcript
Loading transcript...
- / -