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2020 Mortgage Forecasts: Defaults to Jump, Originations to Tumble, Sales to “Suffer”

Author: 
Steve Huebl
Publication date:
May 5, 2020
Article Summary: 

Canada's mortgage and real estate industries are expected to suffer in the short term due to the impacts of the coronavirus pandemic. Mortgage arrears are expected to jump as much as 50%, peaking by Q1 2021. Home sales and prices are expected to suffer short-term pain, with home prices suffering an outsized decline in the second quarter and national average home price growth at a positive, but subdued pace for the remainder of the year. Moody's is forecasting a 10 cline in home prices from their peak.

Keywords: 

Canada real estate, Canada mortgage rates, Canadian banks to cut back on mortgage lending; Moody's Analytics forecasts soggy housing market

Source Citation: 
Steve Huebl
2020 Mortgage Forecasts: Defaults to Jump, Originations to Tumble, Sales to “Suffer”
May 5, 2020
https://www.canadianmortgagetrends.com/2020/05/2020-mortgage-forecasts-defaults-to-jump-originations-to-tumble-sales-to-suffer/
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