HomeMortgageWhat are the main concerns of mortgage clients at present?

What are the main concerns of mortgage clients at present?

The Bank’s latest rate hike, a surprise 1% jump, poured further cold water on Canada’s cooling house market – and some observers have suggested that a similar supersized hike could be on the way in the coming weeks.

While Abrams said he expected 2022’s third quarter to be a slow one, he said Q4 had the potential for increasing interest in the market from new buyers – and the arrival of new supply as stretched homeowners feel the pinch of rate hikes.

“Right now, many are waiting on the sidelines to see how increasing rates affect the market,” he said. “The mix of this wait-and-see mentality, as well as the potential that some homeowners – especially investors – may have stretched affordability and now have what could be an expensive to carry, depreciating asset, means we may see some inventory in the market in Q4 and into Q1…

Read more at www.mpamag.com

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