The Motria Group's Market Blog: New mortgage rules may not have as much impact in Toronto but will have some.
Tuesday Oct 11th, 2016Share
New mortgage rules may not have as much impact in Toronto but will have some. The new mortgage stress test will have an impact on many aspects of the mortgage industry but I am not sure if the Toronto real estate market will be as affected as one may think. The demand in Toronto will remain high as Toronto continues to be sought after by foreign buyers. Toronto continues to be a city where the wealthy want to live. Salaries in Toronto remain relatively high. We may see a larger demand for rental housing as there will be those that just won't be able to afford a house. Demand for condos may increase as house purchases for many become increasingly out of reach. Time will tell.