Bay of Quinte & PEC Resilient to Price Declines

December 17, 2023

Benchmark Price Data, Stress Tests, Buying an Unfinished Home & More!


Your weekly update on what is going on in the real estate market. From localized announcements to international trends, stay in the know about what is going on all things real estate. 


Quinte & PEC Resilient to Declines in Benchmark Price 📉

In this week's YouTube video, I weigh in on the House Price Index (HPI) and Benchmark Price numbers for November 2023. Although Canada-wide and GTA numbers have been trending downward for 5 consecutive months, our local market performance has been somewhat resilient to these trends.

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Mortgage stress test to remain unchanged in Canada

Global News

Canada’s banking regulator says it has left the stress test rate for uninsured mortgages unchanged.

 

The Office of the Superintendent of Financial Institutions says the minimum qualifying rate for uninsured residential mortgages will remain the greater of 5.25 per cent, or the mortgage contract rate plus two per cent.

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