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One More Rate Hike Could Push Canadians Over The Edge
Description
This week was a good week in real estate, and the financial markets reflected a similar sentiment as US inflation data printed lower at 6.5% - down from its previous mark of 7.1%.
This was the largest drop since July 2022, and was mostly led by lower fuel prices. This trend continues its 6th month decline as Inflation is now back to Oct 2021 levels; however core inflation remains sticky as it increased by 0.3%, totalling 5.7%.
In this week's podcast episode, we uncover how consumers really feel about their finances as result of the recent rate hike cycle and how that is affecting home buying decisions.
We look at recent debt surveys which indicate 1 in 4 mortgage holders say they’ll be forced to sell if rates increase much further. What does this mean for the real estate market in the coming months? Will there be a flood of listings or will the bank pivot sooner than later?
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