The Toronto Real Estate Board just released their latest statistical analysis.
GTA home prices jumped 17% year over year. Sales numbers were up nearly 50% compared to June of last year.
Presently, 5 year fixed mortgage rates continue to linger around the 2% level, with continued talk that 5 year rates may drop to 1.5%.
Could the variables of ultra low rates, combined with pent up Covid-19 demand and this incessant fear of missing out be the tangible factors pushing this market to unprecedented heights?
What other factors might explain these phenomenal numbers?
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