Blog Article

Wednesday, 03 November 2021

By Leahs Mortgages

Canada’s Economy took a shocking second-quarter dive. Where will it go next?


“The best way to put this is think of it like a hot summer day versus a sweltering summer day,” says mortgage industry specialist Leah Zlatkin.

“So it had been a sweltering summer (in the first quarter) when it comes to real estate, and now quarter two was a hot summer day,” says Zlatkin, the principal broker at Toronto’s Brite Mortgage.

The unexpected downturn — which saw gross domestic product contract at an annualized rate of 1.1 per cent from April to June — could change everything from Canada’s economic recovery to the results of the upcoming federal election, with affordability a key election point.