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Archive for the ‘The Market’ Category
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So our frenzied market is going to cool – and that’s a good thing!
A brief overview of several factors that affect us clearly point to a welcome calming down of this wild and sometimes unpredictable Toronto marketplace.
- Record low interest rates, now on the way up. Government, legitimately concerned about Canadians taking on too much household debt, are letting interest rates inch back up from all time lows.
- More houses on the market. We all know what happens when supply increases.
- Tighter mortgage underwriting approval guidelines. Controls designed to ensure borrowers can handle increasing borrowing rates are being implemented.
- HST – One way or another, buyers of new upper end condos and houses will be paying more.
The cumulative softening impact that these factors will have is evident.
Why is this welcome? Buyers, Sellers, and Continue Reading…
