Rising interest rates are a factor, but "the supply issue has not gone away"
The spike in home prices makes recently originated reverse mortgages more risky in a downturn
By historical standards, the contraction is expected to be short-lived
Air is coming out of asset values inflated by pandemic supports
Clients who recently bought with variable rate mortgages could face significant monthly bill hikes
Home prices expected to eventually drop, with overheated Ontario and B.C. markets falling most
Many current homeowners also feel financial pressure, Canada Life survey suggests
Housing starts in the province rebounded to 2015 levels in May, finds Statistics Canada
Both mortgage and non-mortgage debt rose in April
A Manulife survey also found that two-thirds of Canadians don't view homeownership as affordable