For a few homeowners, the end of the road is a power of sale
Real estate industry watchers are growing increasingly nervous about the number of power-of-sale properties popping up on multiple listing services.
Rising interest rates are pressuring lenders and borrowers. The Bank of Canada has raised the benchmark rate from 0.25 per cent to 5 per cent over 17 months. That is a staggering rise in the cost of ownership for those who took out loans to buy homes at peak prices.
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More Canadians missing their mortgage payments, the Home of the Week and more top real estate stories
A Victorian home for two in Toronto’s Cabbagetown
Timing helps Vaughan home pull within $30,000 of desired price
Cemeteries swallowed by the city
Hoping to cash out, a wave of retiring cottage owners face a buyer’s market
Toronto-area subdivisions flooded by single-family home rentals
Liberty Village penthouse with a prudent price tag sells amid stiff competition
‘Every deal has a story’ in Toronto real estate
Toronto-area new home sales are worse than during the 1990s housing market crash
Nearly half of Canadian low- and moderate-income renters surveyed lack air conditioning
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