The Slower Spring Market was replaced by a very active May and June
Mortgage rates moved up 4 times in the months of June July and August, taking posted
five year rates from 2.89% to 3.69 % ( Current variable rates are still available at 2.60 %)
These changes plus recent CMHC rule changes have put pressure on the first time buyers
segment of the Real Estate market.
The changes in the CMHC rules will allow fewer Buyers to qualify for mortgages.
Ecomomists with the major banks expect that dispite these changes, the year is expected to have a vey strong finish
The improving economy in the US and a stable Canadian outlook, support the predictions for a strong fall market and positive market growth in the GTA
Call me and lets talk Real Estate