August 2023 nesto-meter Report
August 2023 – Chase Belair, Co-Founder and Principal Broker at nesto
This issue of nesto’s monthly mortgage report is a special one. Why? Our consulting economist, Francis Gosselin, Ph.D., ASC, has joined us once again to discuss what’s in store as we move into the second half of 2023.
Within the coming pages, you will first find this August 2023 quarterly report, followed by the beloved, cyclical nesto monthly report with all its data and insights.
We hope you enjoy!
- Real estate values are projected to remain stable or experience slight growth in the short term.
- A more balanced growth rate is expected in the Canadian housing market from 2024 onwards.
- The Bank of Canada is expected to maintain its interest rate at 5% until 2024 to ensure economic stability.
- Inflation indicators are projected to fluctuate within the 5-6% range until the end of 2023, with the possibility of surpassing the 3% mark before gradually decreasing.
- The report raises the possibility of Canada facing a “technical” recession.
Want to see the full report? Download it now!
The data used for this study comes from nesto’s online application and is solely based on the experience of nesto.ca customers/users, not the national market as a whole.
Data is collected from thousands of monthly users declaring their intent or completing online applications across Canada. The data is anonymized and aggregated for analysis.
Data presented within our Rate volatility and variances report refer to nesto’s “best rate” at any given moment. nesto’s best rate comes from any one of our many lending partners at any given moment.
Author: Chase Belair,
Co-Founder and Principal Broker at nesto
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