Good news. Canada prevented the mortgage cliff that would have seen existing borrowers pay more. The bad news? The rapid rate cuts and extended amortizations are only expected to help new buyers for a few weeks before further affordability erosion. That was the take in a new report from Oxford Economics, who doesn’t see affordability returning until 2035.
https://betterdwelling.com/canadian-mortgage-rates-to-rise-housing-unaffordable-until-2035-oxford-econ/
https://betterdwelling.com/canadian-mortgage-rates-to-rise-housing-unaffordable-until-2035-oxford-econ/
Good news. Canada prevented the mortgage cliff that would have seen existing borrowers pay more. The bad news? The rapid rate cuts and extended amortizations are only expected to help new buyers for a few weeks before further affordability erosion. That was the take in a new report from Oxford Economics, who doesn’t see affordability returning until 2035.
https://betterdwelling.com/canadian-mortgage-rates-to-rise-housing-unaffordable-until-2035-oxford-econ/
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