According to the Canadian Mortgage Rates and Housing Trends 2020 report:
- The end of mortgage deferral programs in the fall could trigger a slump despite low mortgage rates
- Toronto’s June 11.9% YOY increased average selling prices are the result of short-term demand shock from the housing market shutting down at the beginning of the pandemic
- National mortgage rates could drop even further
- A lull in immigration could significantly impact the Toronto and Vancouver markets
- Negative interest rates, such as those implemented in Denmark to stimulate the economy, are not on the horizon for Canada
Thanks to Laura from Lowestrates.ca for the info.