Recent BoC rate hike might change this trend, however
If the answer is “yes,” shouldn’t their compensation model be the same. A number of industry players think so.
Brokers may be disappointed that the BoC refrained from moving its key rate lower, but the decision may speak volumes about the market’s health or lack thereof.
Rental prices have dropped in one major market and while some may spin it as a move to more affordability, the type of home driving that decrease must be considered.
In the Bank of Canada’s economic outlook on Wednesday it reiterated its concern about the housing market, saying that it still expected a soft landing for most regions.
Real estate brokerage Royal Le Page says that the Canadian housing market has hit the predicted soft landing with price increases now slower-than-normal.
Three of Canada’s major commercial centres are a concern in the coming year according to a new report from Colliers International Canada.
Only 33% Canadian homeowners admit that they have read their entire mortgage agreement, a recent study by Scotiabank has revealed. Worse, only 27% fully understood the details of their home loans.
The economic assessment published with today’s overnight rate decision is providing brokers insight into the market for the rest of 2015.
Rising home sales in Toronto and Vancouver may give support to those saying the federal government may tighten mortgage rules once again.
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