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Mortgage News 2022

Navigating the Shift: Unpacking the Dynamics in Canada's Housing Market

11/17/2023

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​Weakness in Canada's housing markets is spreading beyond Vancouver and Toronto, with national home sales down 5.8% and new listings down 2.3% in October, according to the Canadian Real Estate Association. High interest rates and affordability concerns are driving the weakness, and the decline in sales is outpacing the pullback in new listings. Home prices were generally flat in October, with the MLS Home Price Index down 0.8% month-over-month but up 1.1% from last year. Economists expect tough market conditions to continue into 2024, with prices potentially falling further.

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    By: Sarah Colucci

    Senior Mortgage Agent, Lic. M14000929

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Address

411 Queen St. 
Newmarket, ON
​L3Y 2G9

Sarah A. Colucci, Mortgage Agent Lic. M14000929
Sherwood Mortgage Group
Licence # 12176

Telephone

Direct: 647-773-4849
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Email: scolucci@sherwoodmortgagegroup.com
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Photos from DFID - UK Department for International Development, wuestenigel, Free For Commercial Use (FFC)
  • HOME
  • MORTGAGE CALCULATORS
  • APPLY ONLINE
  • PRODUCTS
    • Free House Value Tracker Report
    • CASH-BACK MORTGAGE
    • BRIDGE FUNDS
    • REVERSE MORTGAGES
    • SELF-EMPLOYED MORTGAGES
    • FIRST-TIME HOME BUYER PRE-APPROVALS >
      • FIRST-TIME HOME BUYER TAX CREDIT
    • MORTGAGE REFINANCE >
      • Prepayment penalties
    • SPOUSAL BUYOUTS
    • INVESTMENT PROPERTIES AND RENTALS
    • BRUISED CREDIT
    • PRE-APPROVALS
    • NEWCOMERS
    • DEBT CONSOLIDATION
    • HOME EQUITY LINE OF CREDIT
    • PURCHASE PLUS IMPROVEMENT PROGRAM
    • WHY INVEST IN REAL ESTATE
    • MORTGAGE RENEWALS >
      • New Mortgage Rules and Mortgage Renewals
    • SECOND MORTGAGE LOANS
    • LESS THAN 20% PROPERTIES
    • DOWN PAYMENT
  • CONTACT ME
  • PRIME RATE CANADA
  • CLOSING COSTS
  • DOCUMENTS REQUIRED FOR MORTGAGE FINANCING
  • MORTGAGE DICTIONARY
  • MORTGAGE NEWS
  • GOVERNMENT MORTGAGE RULES
  • MORTGAGE TIPS
  • HOUSE HUNTING CHECKLIST
  • APPRAISALS
  • FIXED OR VARIABLE RATE?