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:
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
Sign up for our email list to receive future reports as soon as they are released: https://ci23.actonsoftware.com/acton/fs/blocks/showLandingPage/a/2216/p/p-0065/t/page/fm/0