Housing Market Correction and Foreclosures

Dated: May 28 2010

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The historically low interest rates brought Buyers to market last year looking for “great deals” in the housing market…“Great deals” hunters led to bidding wars due to low inventory of homes…The home prices rose higher and higher with each passing day… Now many analysts agree that the Canadian housing market is due for a correction fuelled by rising interest rates….What does that mean to homeowners?  There could be loss in home value but strict lending rules by Canadian lenders should spare us from what transpired in the U.S. last year (which still continues)…Most homeowners seem to be on solid footing to continue making the mortgage payments leading to less possibility of defaults. Read Boyd Erman’s article in The Globe and Mail highlighting the report by DBRS Ltd... Happy Home Hunting...
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Raj Bajwa

A marketing focused tech savvy realtor using 17+ years of property buying, selling, and investing journey to create magical real estate experiences for all clients. Everyday, I focus on exceeding cli....

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