Blog Article

Saturday, 06 February 2021

By Shawn Stillman

Shawn Stillman Quoted on Mortgage Broker News – Number of high-value mortgages spikes in Toronto

 

https://www.mortgagebrokernews.ca/news/number-of-highvalue-mortgages-spikes-in-toronto-337501.aspx

According to Shawn Stillman, principal broker at Mortgage Outlet, a potent driver of this development was the work-from-home revolution, which pushed down household costs significantly.

The prevailing environment of record-low rates and the federal government’s financial assistance programs also significantly boosted the general public’s purchasing power.

“People are still looking around and have a lot of inquiries since rates have gone down,” Stillman said. “The mortgage market is definitely fluid right now and it’s healthy. It’s not quite a buyers’ market, and not quite a seller’s market.”

“All of a sudden people could be saving an extra few thousand dollars a month that’s going toward their down payment,” Stillman noted.