RBC (and Government) Propping Up Toronto Condo Market
#torontorealestate #canadianrealestate #canadarealestate RBC, with the tacit support of government regulators, are propping up the Toronto condo market with ‘blanket appraisals,’ with developers encouraging realtors to use RBC’s appraisals – This according to a new report from the Toronto Star. Links: Real estate developers and one major bank offering blanket appraisals in scramble to save preconstruction deals: https://www.thestar.com/real-estate/real-estate-developers-and-one-major-bank-offering-blanket-appraisals-in-scramble-to-save-preconstruction/article_a551fd0a-1525-4503-9521-39cb0974432f.html Toronto home sales are at a 27-year low – and condo investors are stuck in a nightmare: https://www.mpamag.com/ca/mortgage-industry/market-updates/toronto-home-sales-are-at-a-27-year-low-and-condo-investors-are-stuck-in-a-nightmare/531881 This condo investor is being sued for $860,000 for failing to close. He’s one of dozens facing lawsuits as default rates soar: https://www.thestar.com/real-estate/this-condo-investor-is-being-sued-for-860-000-for-failing-to-close-hes-one/article_e0442c6a-dec0-4f72-8fce-c67d32942135.html Residential mortgage underwriting practices and procedures – Guideline (2017): https://www.osfi-bsif.gc.ca/en/guidance/guidance-library/residential-mortgage-underwriting-practices-procedures-guideline-2017 Experts Caution Against Blanket Appraisals, Calling It A “Questionable Practice”: https://storeys.com/blanket-appraisals-questionable-practice-experts/ Opinion | Tumbling home prices could be exactly what we need: https://www.thestar.com/opinion/contributors/tumbling-home-prices-could-be-exactly-what-we-need/article_cb83ea13-fe79-4d3f-ad86-8abd9de49945.html Trump's tariffs are weighing down on Canada's housing market: https://www.mpamag.com/ca/mortgage-industry/market-updates/trumps-tariffs-are-weighing-down-on-canadas-housing-market/531535 Policy interest rate: https://www.bankofcanada.ca/core-functions/monetary-policy/key-interest-rate/ Montreal-Nord, Qc Canada Herbalife Dist C Arthur-herbalife honors 2019 higlights: https://www.youtube.com/watch?v=RLIOQ7-0HFg OSFI’s Annual Risk Outlook – Fiscal Year 2025-2026: https://www.osfi-bsif.gc.ca/en/about-osfi/reports-publications/osfis-annual-risk-outlook-fiscal-year-2025-2026 Trudeau says housing needs to retain its value: https://www.theglobeandmail.com/business/article-trudeau-house-prices-affordability/ Canada to allow 30-year mortgages for first-time homebuyers: https://financialpost.com/real-estate/mortgages/canada-allows-30-year-mortgages-first-time-homebuyers Bank of Canada gave less weight to downward risks to inflation – minutes: https://www.reuters.com/markets/rates-bonds/bank-canada-gave-less-weight-downward-risks-inflation-minutes-2025-03-26/ US 10-year yield won't dance to Bessent's tune: https://www.reuters.com/markets/rates-bonds/us-10-year-yield-wont-dance-bessents-tune-mcgeever-2025-04-08/ Mark Mitchell – Mortgage Broker London Ontario 920 Commissioners road east London, Ontario N5Z 3J1 Phone: (519)860-2102 (Call or Text) MarkMitchell@LondonOntarioMortgages.ca Brokerage Lic: 10464 Broker Lic: M16001479 https://www.LondonOntarioMortgages.ca – Apply Online!! Youtube Channel: https://www.youtube.com/c/MarkMitchellMortgageBrokerLondonOntario Subscribe NOW for more Mortgage/Financial News/Videos. Follow me on Social Media: Instagram - https://www.instagram.com/mortgagebrokerlondonontario Facebook - https://www.facebook.com/londonontariomortgages Twitter - https://twitter.com/londonmortgage1/ LinkedIn - https://www.linkedin.com/in/mark-mitchell-london-s-mortgage-broker-197842123/ TikTok - https://www.tiktok.com/@mortgagebrokerlondon?lang=en Commentary on this Channel should not be considered financial advice.
