Mortgage rates, changing psychology, Canada’s vulnerability, large volumes of investors and migration policy are squeezing the country’s housing market.
Spring is in the air. And for some, so is the expectation of a housing rebound.
The real estate industry hopes the spring market, when sales traditionally surge, will turn around housing prices, which have fallen 19 per cent nationally since their peak a year ago.
There are tentative signs some buyers are tiptoeing back into the market, which has been hammered for a year by mortgage rates that have risen to six and seven per cent. That was forced by the Bank of Canada and others around the world realizing they had to beat back inflation caused by government over-spending during the pandemic.
