Continuing on the theme from last month, housing activity continues to slow as expected when the Bank of Canada raised interest rates by 100bps last month and instantly reduced borrowers purchasing power. Remember, over 50% of new mortgage applicants this year have been going with variable rate mortgages, in large part to dodge the pain of a higher mortgage stress test that accompanies fixed rate mortgages. The pain is not over yet, as we should see another rate hike from the Bank of Canada on September 07.
Steve is a regular speaker at industry events, hosts an online video series ‘The Saretsky Show’, and authors the popular “Saretsky Report” which is read by over 7000 subscribers.
Want to book Steve for a talk at your event or conference? Get started below.