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The August Monthly Market Insights Report by Teranet Examines the Effect of COVID-19 on the Ontario Mortgage Market

August 31, 2020 • Financial, Real Estate

The impact of the COVID-19 pandemic is becoming more visible across the Canadian real estate and mortgage sectors. Data shows that July was the first month in 2020 that saw a decline in mortgage registration volumes across all lender and property types.

To help you navigate through these uncertain times, our Monthly Market Insights Report provides a detailed analysis of the current state of the Ontario mortgage market and highlights key trends.

In the report, you can find an in-depth analysis of:

  • Mortgage Registrations Volume & Dollar Amount from January 2020 to July 2020.
  • Mortgage Registrations by Municipality.
  • Mortgage Registrations by Lender Category.
  • Mortgage Registrations by Property Type.
  • And Sales Registrations.

Last month, 40,300 residential mortgage transactions were done in the province of Ontario. This is the largest decrease from previous years that we have seen so far in 2020 – the mortgage transactions are 11,700 less compared to July 2019.

Though, on a more positive note, within the first seven months of 2020, there have been 274,510 mortgage registrations which represent a total dollar amount of $126.5 billion. This is a significant increase from 2019.

As all regions in Ontario have entered into Stage 3 of the Reopening Ontario plan, it would be interesting to see if the mortgage registrations recover or continue to experience a downward trend.

Download the complete August 2020 Teranet Monthly Market Insights Report here: August 2020 Teranet Monthly Market Insights Report

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