Climbing interest and mortgage rates are cooling the market
More declines from recent highs are likely, but prices should remain above pre-pandemic levels
Much of the cooldown has been attributed to rising interest rates
Investor exuberance is fading as companies try to stave off a potential recession
Rising interest rates are a factor, but ‘the supply issue has not gone away’
The company will now focus more heavily on core businesses, like investing and banking
“Market expectations began crumbling,'' said Robert Kavcic of BMO Capital Markets
Rising interest rates are causing anxiety in a sector that soared over the last two years
CREA said typical discounted five-year fixed rates have leaped from about 3% to 4% in a month
Some buyers are feeling nervous to wade into the market in case conditions quickly change