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The Market Insights Report by Teranet Examines the State of the Ontario Mortgage Market As Summer Season Ends

By October 1, 2020May 13th, 2022Market Insight Report

The impact of the COVID-19 pandemic on the Canadian mortgage market became more visible during the summer months.

This trend has continued in August. The month witnessed the sharpest year-over-year drop in 2020, as it recorded 41,000 residential mortgage transactions.

As COVID-19 cases rise and uncertainty remains, our Market Insights Report aims to provide you with a detailed analysis of the current state of the Ontario mortgage market to help you make more informed decisions.

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

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

While the residential mortgage transactions in August 2020 exhibited a decline for the first time in 3 years, the dollar value of mortgage registrations showed a positive trend.

Within the first eight months of 2020, there were 321,860 mortgage registrations, representing a total dollar amount of $149.5 billion. This is a significant increase from 2019, which saw a total dollar amount of $135.1 billion in the first eight months of the year.

As multiple factors come into play – like rising COVID-19 numbers, reopening of schools, and a possible second COVID-19 wave coming to Canada – our data scientists continue to monitor the market and provide you up-to-date mortgage market insights.

Download the latest Teranet Market Insights Report here:  Teranet Monthly Market Insights Report

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