National sales activity remains strong despite rising mortgage rates and new CMHC mortgage funding restrictions. BC hits a new record for sales, indicating it is recovering from last summer’s market softening changes, and economic factors look to improve in 2014, along with variable mortgages rates.
Various reports point to a slowdown for Canada’s future housing market, as attempts to calm Canadian borrowing levels lead to higher mortgage rates, and developers take a more cautious approach.
Sales may have slowed over the past year, but some of Canada’s real estate markets sport sizzling conditions. Read on for a recap on our nation’s top mortgage markets – Toronto, Calgary and Vancouver.
RBC has released a report on Canadian housing affordability. What are buying conditions like in your province?
What is the most affordable housing market in Canada? We break down buying conditions in each province to assess where you’ll get the most for those hard earned housing dollars.