More than a quarter of poll participants admitted they are unsure how to improve affordability, and 23% per cent said they faced unexpected costs during the mortgage process Nearly nine in ten respondents said access to trusted guidance is important as they weigh mortgage decisions.
“With so much uncertainty around what comes next, Canadians are thinking carefully about how best to approach their mortgage,” says Patrick Smith, VP, Product Management, Real Estate Secured Lending at TD. “Expert advice can help bring clarity to that complexity, so Canadians can make confident, informed choices aligned with their needs and long-term goals.”
Recent home sales data shows that there has been some improvement in affordability in major markets, but that would-be homebuyers are often remaining on the sidelines while they consider how economic factors may unfold.
“A key way to mitigate the impact of trade uncertainty is to promote growth in the domestic economy,” commented Jason Mercer, chief information officer at the Toronto Regional Real Estate Board. “The housing sector can be a catalyst for growth, with most spin-off expenditures accruing to regional economies. Further interest rate cuts would spur home sales and see more spin-off expenditures, positively impacting the economy and job growth.”
