In a Nut Shell

1. The September market activity is already in full swing. The buyers are in buying mode and eager to land their next home while interest rates remain low.
2. Speaking of interest rates, we may see a further reduction by the Bank of Canada that will translate into yet even lower mortgage rates; a thing of beauty!
3. Keep in mind that if you buy a home over 1MM, you’ll need to come with 20% downpayment, as per the CMHC regulations. That 200,000 can be a challenge, especially for a first time or 2nd time buyer. If you need help coming up with this healthy amount of cash, I’ve go a mortgage broker that has an arrangement with a financial lending institution that will map out a plan for you.

What I’m forecasting for the fall market

1. Expect a very robust few months – still a Seller’s market, despite the uptick in fresh new listings.
2. There may be some hesitation to buy now based on the recent instability of the global stock markets and reports of recession in parts of the world, including Canada (apparently!). But this remains to be seen.
3. This hesitation will only hit the luxury market where there are fewer buyers for homes over $3MM.
4. Many will look to real estate as a safer, more stable holding than the stock market.