Episode 186: New Mortgage Rules, GTA Real Estate Forecast, and Canada's Rental Market Issues
In this episode, we begin by introducing new mortgage rules and their potential impact on the market. The discussion moves to the upcoming competition in mortgage lending and strategies that major banks are employing for mortgage renewals. A forecast of the real estate market in the Greater Toronto Area is provided, along with an examination of current challenges in Toronto's housing market. Recent performance trends in Toronto's real estate are analyzed, followed by an exploration of issues in Canada's rental market. Highlights from CMHC's rental market report are presented. The episode concludes with a sponsor message from Glasslake Funding's WaveMakers Program and closing remarks with a sponsor message from Real Approved.
Key Points
- The new mortgage rules for 2024-2025 include adjustments to the stress test requirements, aimed at making it more reflective of current economic conditions and helping more Canadians qualify for mortgages.
- The Bank of Canada's recent rate cuts have shifted the focus to a competitive landscape for mortgage renewals, with banks vying for a larger share of the market as many mortgage holders anticipate renewing at more favorable terms.
- The Greater Toronto Area is experiencing a "positive double whammy" for homebuyers, with falling interest rates and rising inventory giving buyers more leverage to negotiate better deals, particularly in the condo market.
Chapters
| 0:00 | |
| 2:34 | |
| 3:26 | |
| 5:50 | |
| 8:27 | |
| 10:49 | |
| 13:40 | |
| 15:04 | |
| 17:32 | |
| 20:28 |
Transcript
Loading transcript...