Market Statistics.
The number of sales from last month were down year over year. Much of this can be attributed to a general lack of listings but also due to the harsher mortgage stress tests that buyers are now subject to. Interesting to note that prices are still rising. Please have a look at the infographic below for a visual take on what's currently happening with our housing market and for additional info, check out the video below for a more in-depth analysis. For further questions or concerns, please don't hesitate reaching out to me directly.
Uploaded by Toronto Real Estate Board on 2019-03-05.
The Mortgage Stress Test Explained
This animated video explains the mortgage stress test in Canada and how it impacts your ability to finance your home. Mujtaba Syed, Manager Mobile Mortgage Specialist with TD Canada Trust, narrates what home buyers need to know about getting approved for a mortgage or renewing their mortgage.