The Latest In Mortgage News: Have Home Prices Peaked?

Home prices seem to have reached a peak, but May home sales data from some of the country's real estate boards showed sales and prices still growing in some regions, but down for their second consecutive month in others. Toronto, Vancouver, Montreal, and Quebec saw year-over-year changes skewed due to the lockdown restrictions last spring. A new app gives brokers access to Realtor leads. Reslii is a Canadian first app that helps mortgage agents partner with Realtors, opening up a new stream of leads. It is free for Realtors, but mortgage brokers pay a subscription fee to partner with select real estate agents.

The app enhances the existing business processes of the Realtor, and is user-friendly. Mortgage arrears remain at historic lows, with only 0.22% of mortgages from chartered banks currently in arrears. The rate is lowest in Ontario (0.09%) and highest in Saskatchewan (0.76%).