Ketiz Singh

The Real Scoop on Canada’s Real Estate Market

Hey there, welcome back to Ball PR Real Estate! I’m Matthew, a real estate agent in Regina, Saskatchewan. Today, we’re diving into the latest news in the Canadian real estate market, so grab a seat and let’s get started!

What’s the Deal with Mortgage Arrears?

More and more people are falling behind on their mortgages, and the stats are painting a picture. According to data from the Canadian Bankers Association, the delinquency rate has increased from 2% to 2.1%. While some headlines may sound alarming, it’s important to note that mortgage arrears hit record lows a couple of years ago, meaning there’s only one direction they can go – up.

• Key Insight: Historically, about 50% of mortgages in arrears end up in foreclosure or power of sale situations, showing that people are more likely to catch up on payments than we think!

The Lowdown on Rent Drops

Rents are on the decline in Canada, with a 3% drop year-over-year. From Vancouver to Toronto, we’re seeing decreases in asking rents, especially for houses and townhouses. While some cities are seeing increases, the overall trend is pointing towards a decline in rent prices.

• Key Insight: Prairie cities like Saskatoon are bucking the trend with rent increases, while larger cities are facing larger declines.

Best Available Mortgage Interest Rates

If you’re shopping for a mortgage, here are some of the best rates you can find right now. Insured, uninsurable, fixed, or variable – check out the rates and see what works best for you!

• Hot Tip: The lowest interest rate isn’t always the best mortgage – make sure to consider all factors before choosing.

Toronto vs. Vancouver: Real Estate Showdown

An article suggests that Toronto will become Canada’s most expensive real estate market in 2025, surpassing Vancouver. But hold on a minute – let’s take a closer look at the numbers. While projections may vary, it’s essential to understand the data behind the forecasts and make informed decisions about the real estate market’s future.

• Takeaway: Don’t believe everything you read – do your research and stay informed about the real estate market trends to make the best choices for your investments.

That’s all for today’s real estate news recap! Stay tuned for more updates and insights on the Canadian real estate market, and remember – knowledge is power in the world of real estate. Thanks for joining me, and see you next time!