Here are The Globe and Mail’s top housing and real estate stories this week, with the lowest mortgage rates available in Canada today, commentary from our mortgage expert and one home worth a look.
Mortgage debt like a ‘ticking time bomb’
Economists are issuing a dark warning, writes David Parkinson. A report from economists at Desjardins Capital Markets says Canada’s mortgage debt is “a ticking time bomb” and that the pain for mortgage holders has barely started. The bulk of mortgages taken out during the pandemic, when rates were at their bottom, will hit renewal time in 2025 and 2026, when Desjardins forecasts homebuyers will face dramatic increases in their monthly payments.
Canadian housing market rebounds in April
The national home price index claimed