A mortgage broker on new borrowing rules, lower rates and the renewed excitement in Toronto real estate

Toronto mortgage broker Tuli Parubets attended a presentation by a realty company recently where the word “tsunami” was used in a 2025 housing market lookahead.

While the phrase struck her as a bit much, Ms. Parubets already sees signs of a real estate rally fuelled by falling mortgage rates and looser mortgage rules that kick in Dec. 15. “I’m a foot soldier in the market and I see it,” she said in an interview. “There’s a renewed excitement.”

The new mortgage rules improve affordability for people who have down payments under 20 per cent and thus require mortgage default insurance. They’ll have more latitude to amortize mortgages over 30 years, up from the current limit of 25. And, they’ll be able to buy homes that cost up to $1.5-million, an increase from the current price cap of $1-million for insured mortgages.