HOME RATES ABOUT SERVICES VIDEO BLOG CONTACT ME TEAM
AGENT LICENSE ID
M11002072
BROKERAGE LICENSE ID
10419
Steven King Mortgage Broker

Steven King

Mortgage Broker


Phone:
Address:
381 Richmond Road, Ottawa, Ontario

BROWSE

PARTNERS

BROWSE

PARTNERS

COMPLETE

THE SURVEY

REFER

A FRIEND

Prices continue to lose momentum in June

8/3/2022

With the decrease in resale market transactions and the increase in interest rates, property price growth moderated for a third consecutive month, but still remained solid in June at 1.0% after adjusting for seasonal effects. Using the seasonally adjusted unsmoothed index, which is more sensitive to market fluctuations, the moderation is even more pronounced, with property prices essentially flat in May and June. While the Bank of Canada has indicated that it will continue to raise its policy rate and that transactions in the real estate market should continue to decline, we anticipate that the composite index should decrease by 10% by the end of 2023. The price declines have already begun to spread across the country. In fact, for all 32 markets where the seasonally adjusted unsmoothed index was available in June, 58% experienced a decline during the month, compared to 34% in May and only 16% in January. We have to go back to May 2020, at the very beginning of the pandemic when uncertainty was at its peak, to find such a large proportion of markets in decline.

https://www.nbc.ca/content/dam/bnc/en/rates-and-analysis/economic-analysis/economic-news-teranet.pdf

MY LENDERS

Scotia Bank TD Bank First National EQ Bank MCAP Merix
Home Trust CMLS Manulife RFA B2B Bank Community Trust
Lifecycle Mortgage ICICI Bank Radius Financial HomeEquity Bank CMI Bridgewater
Sequence Capital Wealth One Fisgard Capital Bloom Financial NationalBank