Has Canada's Housing Market Hit Bottom? Why Mortgage Rates in Canada and the U.S. Are Heading in Opposite Directions

Has Canada's housing market finally found a bottom—or is there still further to fall? This month on the Real Estate Roundtable, I'm joined by Vancouver realtor Steve Saretsky and Toronto mortgage broker David Larock to discuss whether the correction in Canadian real estate is nearing its end, or whether home prices still have further to adjust before a sustained recovery begins. We also break down the latest economic data and what it means for interest rates. While inflation in Canada continues to trend lower, stronger-than-expected GDP growth suggests the Bank of Canada is unlikely to cut interest rates anytime soon. We discuss why the Bank appears to be on hold and what that means for borrowers and housing demand. Finally, we examine an increasingly important divergence between Canada and the United States. Long-term bond yields in the U.S. have been climbing sharply, pushing borrowing costs higher, while Canadian long-term yields have remained relatively stable. Why are the two countries moving in different directions, and what does this mean for fixed mortgage rates and the outlook for Canada's housing market? All that and more in this month's Real Estate Roundtable covering housing, interest rates, and the economic forces shaping the Canadian real estate market.