Canadian real estate news for June 16: Canadians behind on car loans, the lowest mortgage rates and more

Real estate news in Canada on June 16 revealed interesting insights about Canadians and their financial habits. One report showed that many Canadians are falling behind on car loan payments, with 5.5% of payments being overdue by at least 90 days. This highlights the importance of understanding our financial limitations before taking on more debt. Meanwhile, in the realm of real estate, mortgage rates have hit an all-time low, with some lenders offering rates as low as 1.29%. This is great news for those looking to buy a home or refinance their current mortgage. On another front, a recent report found that more Canadians are renovating their homes as a result of the pandemic, with many focusing on creating home offices and outdoor spaces. With the pandemic shifting the way we view our living spaces, it’s no surprise that home renovations are on the rise. Overall, these trends reveal insights into the financial habits and priorities of Canadians, and offer valuable guidance to those navigating the real estate market. It’s important to stay on top of such trends to make informed decisions for our financial wellbeing.