Toronto Blizzard

There’s a winter chill out there, and the blowing madness from the curious south is real. Instilling fear and nervousness is the goal, and it behooves us to not be swept into it holus bolus. Thoughtfulness and action will be required, but wasn’t it always?

I have buyers telling me they are waiting for the Trump tumult to steady, but others tell me they are moving ahead. People still need to move.  Life events continue. Babies arrive. Mum and Dad need assisted living. New partnerships are formed. House sales are still happening and selling prices are still sound in most freehold properties. Location is key.

Let’s look at the numbers. The Showings and Offer charts are not comprehensive as they come from a platform that is used by the most established of 416 brokerages but not all brokerages. These are most useful for understanding trends in the core of the city.

In the 416 showings have been steady in the past week. Offers are less robust than showings. The trend is not clear.

And what of mortgage rates?  The Bank of Canada has lowered the prime lending rate, but the main lenders have not publicly lowered the fixed mortgage offerings.

See this bond price report. As bond yields go down. Mortgage rates have historically followed. Let’s see what happens. It could be dramatic.

As homeowners face renewals in 2026 and 2027 in large numbers, it is anticipated the banks will compete for business.

Even now, you can negotiate better than the posted rates. It is in most buyers’ interest to seek the help of a mortgage broker. In the next few years lenders are facing enormous renewal volume and are hoping to keep and attract customers. They will compete for your business.