Toronto Real Estate Price Fall in July, Mortgage Rates Down in August

#TorontoRealEstate #CanadianRealEstate #canadianmortgagerates

Toronto’s real estate prices fell all across the board in July, with the highest amount of active listings available for the previous 10 Julys. However, with the cost of borrowing falling, the TRREB is expecting an upsurge in sales in the coming months.

Links:

GTA REALTORS® Release July 2024 Stats:

https://trreb.ca/market-data/market-watch/

Toronto area home prices drop in July as real estate listings pile up:

https://www.thestar.com/real-estate/toronto-area-home-prices-drop-in-july-as-real-estate-listings-pile-up/article_74153d62-4fb4-11ef-8bd7-a7b5584ef74e.html

Global markets plunge amid U.S. recession fears:

https://globalnews.ca/video/10682701/global-markets-plunge-amid-u-s-recession-fears/

Canada 5 Year Government Bond:

https://www.marketwatch.com/investing/bond/tmbmkca-05y?countrycode=bx

Treasuries Surge as Traders Bet on Emergency Fed Rate Cut:

https://financialpost.com/pmn/business-pmn/bond-traders-bet-big-on-the-fed-launching-into-rescue-mode

Real estate action dims in Ontario and BC but Prairie markets keep on rolling:

https://thoughtleadership.rbc.com/real-estate-action-dims-in-ontario-and-bc-but-prairie-markets-keep-on-rolling/

Toronto home sales fall in July after June uptick, prices slightly up:

https://www.reuters.com/markets/toronto-home-sales-fall-july-after-june-uptick-prices-slightly-up-2024-08-06/

Indicators of financial vulnerabilities:

https://www.bankofcanada.ca/rates/indicators/indicators-of-financial-vulnerabilities/

US$6.4 trillion stock wipeout has traders fearing ‘great unwind’ is just starting:

https://www.bnnbloomberg.ca/investing/2024/08/05/64-trillion-stock-wipeout-has-traders-fearing-great-unwind-is-just-starting/

How will the Bank of Canada rate cut impact the real estate market?:

https://www.bnnbloomberg.ca/investing/2024/07/24/how-will-the-bank-of-canada-rate-cut-impact-the-real-estate-market/

Ontario Home Sales Suffer Losses but Experts Predict Market Rebound:

https://www.blogto.com/real-estate-toronto/2024/07/ontario-homes-losses-market-rebound/

Like 2009, this real estate dip might not last:

https://www.theglobeandmail.com/investing/personal-finance/household-finances/article-housing-bubble-canada-real-estate/

Canada's economy is tanking, but at least investors have options:

https://financialpost.com/investing/canada-economy-tanking-but-investors-have-options

Canada Inflation Decelerates to 2.7%, Core Measures Sticky:

https://www.bloomberg.com/news/articles/2024-07-16/canada-inflation-decelerates-to-2-7-core-measures-rise

Dow crashes 1,000 points and the Nasdaq loses 3% as recession fears fuel market panic:

https://markets.businessinsider.com/news/stocks/stock-market-crash-picks-up-recession-fears-carry-trade-unwind-2024-8

Is this a correction or a recession? What to know amid the international market plunge:

https://www.usatoday.com/story/money/2024/08/05/stock-market-recession-correction/74673009007/

Wall Street has its worst day since 2022 as fears of U.S. recession deepen:

https://www.cbc.ca/news/business/world-market-united-states-recession-1.7285512

Mark Mitchell – Mortgage Broker London Ontario
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