Spring, Election, And The Mortgage Market
“How Will The Coming Months Play Out In Toronto’s Mortgage Market?”
I recently contributed to an article about where the mortgage market is headed in April, 2011 and in the months that follow.
The strength of home sales and the mortgage market for March in general were likely aided to some degree by a combination of the new mortgage rules coming into effect and the upward pressure on interest rates.
Here is a link to the full article http://www.mortgagebrokernews.ca/news/breaking-news/second-best-march-on-record-treb/76348
With the combination of rate increases, tightening of mortgage qualifying rules and terms, and the up coming federal election, all things would seem to be pointing to some type of slow down in April and potentially beyond.
I find the election element perhaps the most interesting.
Over the years, any type of election tends to slow down the real estate market and the mortgage market, with a Federal election having the largest potential impact.
I guess its largely human nature to want to sit back and see how things are going to unfold before making major financial decisions such as buying a home.
In more of a macro point of view, the Canadian market on the whole is a picture of health compared to the rest of the world and any slow down that we may seem in the near term is likely going to be short lived.
That being said, financial markets always have a certain ere of uncertainty to them, especially considering how we can be adversely impacted by events elsewhere, without any notice.
If there is a takeaway to any of this, I would say its business as usual in the mortgage world with some potential interesting twists and turns in the months ahead.
Click Here To Speak With Toronto Mortgage Broker Joe Walsh
Related posts:
- Spring Home Mortgage Financing Season Is Upon Us
- ‘Killing Ewe Softly’- Cooling down the Real Estate Market in Canada.
- Canadian Home Mortgage Market Heating Up
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