This is a good reminder that the interest rate story isn't over, even though rates are falling. I'll be interested to see how renewals affect the behaviour of investors and older mortgage-holders with significant equity. Investors are already fleeing the condo market, which creates an opportunity for 55+ homeowners to downsize at a significant financial gain. While it will undoubtedly be painful for some, a more dynamic market could increase allocative efficiency in the housing sector and improve the situation overall.
This is a good reminder that the interest rate story isn't over, even though rates are falling. I'll be interested to see how renewals affect the behaviour of investors and older mortgage-holders with significant equity. Investors are already fleeing the condo market, which creates an opportunity for 55+ homeowners to downsize at a significant financial gain. While it will undoubtedly be painful for some, a more dynamic market could increase allocative efficiency in the housing sector and improve the situation overall.