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Mortgage Broker News | 09 Sep 2013, 12:00 AM Agree 0
The numbers are in and they’re confirming speculation that rising rates pushed fence-sitters into the market, with GTA sales alone skyrocketed 21 per cent in August.
  • Paolo Di Petta | dipettamortgage.com | 09 Sep 2013, 10:46 AM Agree 0
    Blacklock makes an excellent point. I suspect that especially in the Toronto Market, the July and August sales jumps were directly related to expiring rate holds and rates creeping up.

    Unfortunately, I think in order to save a few hundred bucks in interest, a lot of people have overpaid in the market by thousands (not to mention, the interest on that money over time).

    October is probably going to be an interesting month - Traditionally, September/October is when sales start to taper for the year (until the next summer)

    September 2012 sales numbers were exceptionally bad, so, we have one more month of "20% Year-over-Year Increases" before reality a huge reality check...

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