Ottawa, Ontario (PRWEB) May 21, 2013
The Canadian real estate market is currently undergoing a slow phase. This can easily be observed from statistics revealed by the research consultancy, Urbanation Inc. According to their research, the condominium sales in Toronto dropped a whopping 55% in the first quarter of 2013. However, Jim Flaherty, the Finance Minister of Canada is not worried about this slowdown. According to mortgage expert, Marcus Arkan, this is good news for the key participants of the real estate market.
Mr. Flaherty recently said in a telephone interview that he was not concerned or worried about the slowing down of the Canadian real estate market. In addition to that, he termed the consequences of the slowdown as “healthy developments”. This was quite a surprise for key players of the Canadian housing market.
Mr. Arkan, CTO of Syndicate Mortgage Inc. believes that Jim Flaherty is an experienced individual. Mr. Flaherty’s insight regarding the real estate market has helped him foresee the consequences of the current activities in the housing market of Canada.
Mr. Arkan opines, “The tightening of mortgage policies in 2012 had made a big contribution in stabilizing the housing market of Canada. The new rules gave the housing market an opportunity to release the heat and cool off.”
He further added, “The recent slowdown is a direct consequence of stricter mortgage policies. The condo market has seen a major drop in sales and consequently, a reduction in the demand for mortgage and new condo developments. This will keep another housing bubble at bay.” Mr. Jim had used the term, “healthy developments” for these changes because they allowed the real estate market to stabilize before it could start trending positively again. This will ensure a prosperous future for the real estate in Canada as well as for the participants of the housing market.
The key participants of the housing market include developers, real estate brokers, mortgage brokers, lenders, etc. Every one of them will face direct consequences of the activities that take place in the real estate market.
Mr. Arkan predicts a lucrative future for the Canadian real estate market and believes that the market will flourish in the next few years. To learn more about Canada mortgage rates, please visit the website http://www.syndicatemortgages.com.
About Syndicate Mortgages Inc.
Syndicate Mortgages Inc. is one of the leading Canadian mortgage brokerage firms. Founded in 2008 in Ontario, the company specializes in residential, commercial and construction financing across Canada. With years of experience and expertise in the mortgage industry, and access to an array of lending institutions across Canada, Syndicate is known for finding the best mortgage rates for their customers. Syndicate has branch locations across Canada. For contact, please use the following details.
Syndicate Mortgages Inc.
Toll Free: (888) 646-1062