Yahoo Finance Editor's Edition: Rising interest rates and Canadian real estate prices
Greater Toronto Area and Vancouver home prices continue to soar but rising interest rates could help cool things down.
The Bank of Canada signalled it could raise its overnight rate earlier than expected, opening the door to higher variable mortgage rates. Meanwhile, banks have been hiking fixed rates as bond yields jump.
We’ve been getting monthly updates from the ground floor from Realosophy Realty’s John Pasalis and Oakwyn Realty’s Steve Saretsky, who help make sense of it all, with advice for anyone buying or selling a home.
They shared their thoughts on what higher rates will mean for housing markets. They also answered viewer questions about contracts, the role of realtors, foreign buyers, and how to vet developers.
If you have questions, email them to jessybains@yahoofinance.com and John or Steve will answer them on the next episode.
Jessy Bains is a senior reporter at Yahoo Finance Canada. Follow him on Twitter @jessysbains.
