2016/2017 CHMC housing market outlook for the GTA

Aside

2016/2017 CHMC housing market outlook for the GTA

CHMC GTA Housing Outlook Fall 20A short and easy to read summary of the CHMC study on the 2016/2017 CHMC housing market outlook can be found on this page and a link to the entire downloadable report can be found at the bottom of this post.

At any time, if you wish, you can request a one on one meeting or conversation to learn details of this educational study by phone or text dialing 416-262-7139

Mortgage rates may stay steady for the next 1 or 2 years
  • Home buying affordability may decrease
  • Toronto is the most expensive city
  • Supply will keep the resale market balanced
  • 30,000 condos in GTA
  • 2017 prices will go up 2%
  • Price growth to slow
  • Pace of construction to ease
  • Condos to dominate construction increase
  • Low inventory has led to higher prices
  • Low-rise sales trending higher
  • Unemployment and earnings growth is low
  • Bank of Canada lowers target rate
  • Price growth outpacing income growth
  • Price growth reflects sales of expensive homes
  • More transactions are in the expensive house market
  • Condo inventory above historical level
  • Growing long-term investor activity
  • Most condo inventories are bought to rent
  • Condo investors are there for a long run
  • Slower price appreciation for new condos

CHMC High Rise Starts OutLook Fall 2015

This study may be very useful for all those who are engaged in one way or another in the

May I help you with your mortgage?

housing market in the Greater Toronto Area; Whether you are seeking to purchase a home or condo in the coming 2 years or you already own a real estate property, this insight may help you to take a wise decision.

Contact your mortgage agent

Mortgage

MortgageMortgage is a registered agreement in a land titles office where security interest in a specific real property is held by a lender as a security for debt repayment by the borrower, a debt pledge

Each mortgage is a claim against the property; should the property be sold or foreclosed each claim is satisfied in order

What kind of mortgage can I help you with?

MortgageSecond MortgageRefinance
Reverse mortgageHome Equity Line of CreditCommercial Mortgage

First mortgage: is the first loan registered in the title against the property

Second Mortgage: Is the loan that is registered second in time in the title against the property, is normally used to trade high credit card debts that carry high-interest rates for a low mortgage rate that eventually will reduce the cost of borrowing making it easier to eliminate that debt

A Mortgage can be conventional or high ratio
Conventional mortgage: Usually when a borrower contributes a 20+% of the value of the property
High ratio mortgage: Usually when a borrower contributes less than a 20% of the value of the property

A Mortgage can be open or closed:
Open: Allows the borrower to repay all or part of the principal at any time without penalties
Closed: Does not allow any prepayments or early repayments of the mortgage

There are different types of mortgage loans because they try to satisfy different needs according to the borrower’s lifestyles and affordability.

Call or text 416-262-7139
Contact meApply On Line

First mortgage

First MortgageFirst mortgage is the first loan registered on the real estate title.

Looking to buy your first home?

Save thousands on your first mortgage, know your options & get approved

Other mortgage loans can also be registered on the same property title, they would be called second or third mortgages

Reading the following will help you get approved when applying for your first mortgage

You are excited about buying your home and wouldn’t like disappointments, if this is the case read the following:

  • Is smart to have your mortgage assessment practiced before you start viewing homes, that way you’ll know what you can or can’t afford.
  • Learn about the unique advantages you are entitled to if you are a first time home buyer
  • Learn about your credit and mortgage loans and credit score
Call or text 416-262-7139
Contact meApply On Line