Blog Article

Wednesday, 03 August 2022

By Leahs Mortgages

Leah Zlatkin quoted in the Financial Post: ‘Vancouver Home Sales Tumble, Calgary’s Slide as Rising Rates and Uncertainty Take Toll’

While many in the real estate industry have blamed rising interest rates for the drop in demand, Leah Zlatkin, expert and licensed mortgage broker, said the pause in home buying has more to do with the risk of a recession and overall uncertainty.

“You have to be cautious in assuming that a Bank of Canada overnight rate increase is really impacting the entire market and I don’t think that that’s really what’s causing people’s hesitation,” Zlatkin said. “I think the thing that’s causing people’s hesitation is housing prices dropping and the uncertainty around whether a recession is coming. A job loss is much more impactful to a mortgage payment than the actual rate increase.”