Mortgage & Market Report – 2023 Outlook & 2022 Recap
We are excited to share with you our December 2022 real estate market and mortgage reports courtesy of our incredible financial partner, Outline Financial. These reports summarize and simplify real estate listings and sales data and are available for almost all area and zones across the GTA.
Each Executive Summary Report is for a specific TRREB zone combination and includes a map of the included zones and a 4 page summary for each property type (detached, semi-detached, townhomes, condos) The Information / statistics you can find in each Executive Summary Report include:
Data comparing the – 1, 3, 5 and 10 year sales averages.
Stats categories – Sales, New Listings, Active Listings, Average Price, Months of Inventory (MOI), Sales to New Listing Ratio (SNLR)
Mortgage & Market Outline
In our year end Mortgage Market Outline Report, we crown our “mortgage newsmaker of the year” and preview key trends and issues that could have a significant impact on 2023.
In summary, this detailed report covers the following:
2022 Top Mortgage Newsmaker of the Year
2023 Rate Forecast and Direction
2023 Economic Calendar – Dates to Watch!
OSFI Considers Further Policy Tightening Measures
Potential Impact of Policy Tightening
Strategies to Help Weather the Interest Rate Storm
2022 Recap and 2023 Outlook
TRREB Stats Outline
In our year end Stats Outline Report, we analyze the full year TRREB stats results and provide our outlook on what 2023 may have in store for the real estate and mortgage markets.
In Section 1 of the full report, we provide a detailed analysis and commentary on the below average price & sales chart that tracks the TRREB market progression from 2020 to 2022. We organize our analysis into the following categories:
2020 – Uncertainty
2021 – Hyper Growth
2022 – Part 1 – The Peak
2022 – Part 2 – The Ride Down
2022 – Part 3 – Steady as She Goes
In Section 2 of the full report, we analyze the supply metrics for detached and condo property types heading into 2023 and outline key trends and issues that we expect will have the biggest impact on housing during 2023.
Full Reports (Text & Video)
Bank of Canada Raises by 0.25%
Timely Topics! On January 25th, 2023, the Bank of Canada (BoC) increased its overnight rate by 0.25% (25bps) lifting it to 4.50%. Lenders followed shortly after by raising their Prime rates from 6.45% to 6.70%.
As at the time of writing, most economists are forecasting that we’ve reached the peak and the next move by the Bank of Canada could be downward starting very late 2023 or 2024. To access the full report that covers the following topics, please click on the image below:
Why did the BoC raise by 0.25% (25 bps)?
Why this could be the last increase by the Bank of Canada.
How does this increase impact existing mortgage holders, or those looking to buy, refinance, or renew?
Potential mortgage payment relief options for those significantly impacted by the rising rates.