News Formal

Mortgage brokers expect more competition as buyers re-enter housing market

  • 📰 BNNBloomberg
  • ⏱ Reading Time:
  • 40 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 50%

Business News News

Business Business Latest News,Business Business Headlines

Mortgage brokers say the latest housing market data from the Canadian Real Estate Association (CREA) suggests homebuyers have largely come off the sidelines, adding that competition is expected to heat up going forward.

Jason Mercer from the Toronto Region Real Estate Board speaks with CP24 about what the data might mean

“We’ve seen a notable surge in sales alongside a decline in new listings. This, combined with new mortgage rules coming into effect on Dec. 15 and the Bank of Canada’s anticipated rate cuts next month, will further heat up competition,” Leah Zlatkin, a licensed mortgage broker and LowestRates.ca expert, said in a statement to BNNBloomberg.ca Monday.

“Homebuyers who were sitting on the sidelines are now actively engaging, weighing their options, and asking critical questions about whether fixed or variable rates best suit their needs in this evolving environment,” Zlatkin said. Victor Tran, a RATESDOTCA mortgage and real estate expert, said in a statement to BNNBloomberg.ca that the housing market is beginning to pickup, which is “good news for both buyers and sellers.”

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 83. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Competition Bureau seeking input on property controls in grocery industryGATINEAU, Que. — The Competition Bureau is seeking information from grocery retailers and those in the real estate business about restrictive real estate clauses in the Canadian grocery industry.
Source: SooToday - 🏆 8. / 85 Read more »

Competition Bureau seeking input on property controls in grocery industryThe Competition Bureau issued a call-out Monday, seeking information from grocery retailers and those in the real estate business about restrictive real estate clauses in the Canadian grocery industry.
Source: BNNBloomberg - 🏆 83. / 50 Read more »