Mortgage, Money and Dream – Our thoughts on Canadian Mortgage Market
Call Us: 416-930-1225

Last month Canadian housing saw a surge in resale activities. In the major cities – resale transactions posted a significant jump. This jump made many believe that the initiating event is mortgage rate hike in May 2013.

That assumption is not that bad. From May to August is roughly three months. An ideal closing period.

Generally in August real-estate closings peaks. Among many reason – school season is a main one.

So, the sideliners who were just thinking that the mortgage rate will go further down and at the same time the housing market will crash – could not hold it off any further. They just pulled the trigger and decided to become a home-owner with mortgage.