Canada’s Real-Estate Market Stumbles as Rate Hikes Bite

Dated: April 15 2024

Views: 3

Canada’s once-booming real-estate sector is showing signs of strain. Major developers are defaulting on loans, buyers are struggling to close deals, and numerous condominium projects are on hold. The culprit? Aggressive interest-rate hikes by the Bank of Canada. These sudden rate increases have impacted borrowing costs, including mortgages, and are causing disruptions in the residential market. While homeowners have benefited from high prices, the broader economy faces challenges as housing growth slows.

Read the full article here.


Blog author image

Martin Chettle

Taking a personable approach, while maintaining professionalism, has allowed Martin to build and maintain solid relationships, which explains why his business has grown mostly from referrals and repea....

Latest Blog Posts

Canada’s Real-Estate Market Stumbles as Rate Hikes Bite

Canada’s once-booming real-estate sector is showing signs of strain. Major developers are defaulting on loans, buyers are struggling to close deals, and numerous condominium projects are on

Read More

HOW TO NEGOTIATE WHEN SELLING YOUR HOME IN CANADA

Are you someone who always seeks the best deal? If so, there are ample opportunities to leverage your skills when selling a home in Canada. Negotiations are a standard part of the home

Read More

Key Insights for Home Buyers and Sellers going into 2024

Greetings, valued clients! Here's a breakdown of the latest update from the Canadian Real Estate Association (CREA) regarding the housing market forecast for 2023 and a glimpse into 2024.Recent

Read More

TECH FOR SMART HOMES

Want to get smart? Learn all about the tech now available (and soon-to-be-available) that can make your home smarter! Whether you just love gadgets or want to make your life easier, having

Read More