School is Out For Summer, School is Out Forever!
  
I showed my kids "School's Out" by Alice Cooper. Within 20 seconds, they said they had no interest in old people's music and to turn it off. I played the whole song.
Act Like Cheetahs!
When I think of Cheetahs, my first thought is running fast and not sleeping on a tree!
Where Is The Housing Market Going
According to a recent report by Canada Mortgage and Housing Corporation, the total outstanding mortgage debt in Canada reached $2.16 trillion dollars up 3.4% from a year earlier. That increase is the smallest growth in the last 23 years.
This lower rate of growth is directly attributed to the increase in mortgage rates. Although delinquency rates are still near historic lows, the latest report shows an uptick in homeowners having difficulties making monthly mortgage payments. For the first time since the beginning of the pandemic, mortgage delinquency rates are trending up. Vulnerabilities first detected in credit card and auto loan markets are therefore moving into the mortgage market as well. The national mortgage delinquency rate hit 0.17% in Q4 2023, from a low of 0.14% in Q3 2022.
Good news is on the horizon, lower mortgage rates will be the expected trend. Combine this great news with strong population growth and increases in real disposable income, the forecast is for a healthy real estate market and that will bring higher home sales and prices.
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