Taking the market’s temperature

METRO NEWS – Condo owners and purchasers may be pondering what lies ahead for Toronto’s real estate market as we head into the fall season. In July, the Bank of Canada lowered its overnight lending rate from 0.75 per cent to 0.50 per cent. The major banks soon followed suit, resulting in increased sales activity in the GTA. The Canada Mortgage and Housing Corporation recently released a quarterly supplement entitled Housing Now Canada. Despite Toronto’s red hot housing market, the report has an ominous message about overvaluation.

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(Article reprints courtesy of Metro News)