On April 14, I attended the annual Independent Mortgage Brokers Association (IMBA) annual conference. We were fortunate to have Canada Mortgage and Housing Corporation’s (CMHC) Regional Economist, Ted Tsiakopoulos, share his outlook on the economy, real estate and interest rates.
Click here for the entire presentation. This is a summary of CMHC’s outlook:
- No evidence of housing bubble.
- housing market is stabilizing in Ontario.
- we won’t see the growth in prices as in years past.
- this outlook is still uncertain given all the global events, both political and economic.
- credit growth is slowing.
- Interest rates will rise as economy improves.
The good news is that there doesn’t seem to be a housing bubble. Interest rates will gradually return to normal. And we don’t seem to be taking on as much personal debt as the government and media has led up to believe in the recent months.