{"id":310304,"date":"2025-06-13T04:28:01","date_gmt":"2025-06-13T04:28:01","guid":{"rendered":"https:\/\/wahi.com\/ca\/en\/?p=310304"},"modified":"2025-06-16T04:34:15","modified_gmt":"2025-06-16T04:34:15","slug":"nearly-half-of-mortgage-renewers-anticipate-higher-monthly-costs-and-inventory-levels-in-toronto-reach-new-high-point","status":"publish","type":"post","link":"https:\/\/wahi.com\/ca\/en\/learning-centre\/real-estate-101\/buy\/wahi-top-real-estate-stories-116\/","title":{"rendered":"Nearly Half of Mortgage Renewers Anticipate Higher Monthly Costs, and Inventory Levels in Toronto Reach New High Point"},"content":{"rendered":"

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This week\u2019s top real estate<\/a> stories.
<\/span><\/p>\n

[\/et_pb_text][et_pb_text _builder_version=”4.27.4″ _module_preset=”default” text_font_size=”21px” text_line_height=”1.6em” header_2_font=”||||||||” header_2_font_size=”36px” header_2_line_height=”1.3em” header_3_font_size=”1.25rem” header_3_line_height=”1.88rem” header_4_font=”|700|||||||” header_4_font_size=”1.25rem” header_4_line_height=”1.88rem” custom_margin=”||11px|||” text_font_size_tablet=”21px” text_font_size_phone=”16px” text_font_size_last_edited=”on|phone” header_2_font_size_tablet=”36px” header_2_font_size_phone=”25px” header_2_font_size_last_edited=”on|phone” global_colors_info=”{}”]<\/p>\n

By Jared Lindzon<\/a>\u00a0<\/span>| 2 minute read<\/p>\n

[\/et_pb_text][et_pb_post_title title=”off” author=”off” date_format=”M j” categories=”off” comments=”off” featured_image=”off” _builder_version=”4.18.0″ _module_preset=”default” custom_margin=”||17px|||” global_colors_info=”{}”][\/et_pb_post_title][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.18.0″ _module_preset=”default” custom_padding=”0px||3px|||” da_disable_devices=”off|off|off” locked=”off” global_colors_info=”{}” da_is_popup=”off” da_exit_intent=”off” da_has_close=”on” da_alt_close=”off” da_dark_close=”off” da_not_modal=”on” da_is_singular=”off” da_with_loader=”off” da_has_shadow=”on”][et_pb_row _builder_version=”4.18.0″ _module_preset=”default” width_tablet=”” width_phone=”100%” width_last_edited=”on|desktop” custom_padding=”0px||9px|||” global_colors_info=”{}” width__hover_enabled=”off|desktop”][et_pb_column type=”4_4″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_image src=”@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF9mZWF0dXJlZF9pbWFnZSIsInNldHRpbmdzIjp7fX0=@” align=”center” force_fullwidth=”on” _builder_version=”4.18.0″ _dynamic_attributes=”src” _module_preset=”default” custom_margin=”1px||29px|||” border_radii=”on|32px|32px|32px|32px” border_radii_tablet=”on|32px|32px|32px|32px” border_radii_phone=”on|0px|0px|0px|0px” border_radii_last_edited=”on|desktop” global_colors_info=”{}”][\/et_pb_image][et_pb_text _builder_version=”4.24.2″ _module_preset=”default” text_font_size=”1.13rem” text_line_height=”1.75rem” custom_margin=”-18px||2px|||” custom_padding=”||7px||false|false” custom_padding_tablet=”||7px||false|false” custom_padding_phone=”|15px||15px|false|true” custom_padding_last_edited=”on|phone” text_font_size_tablet=”1.13rem” text_font_size_phone=”0.9rem” text_font_size_last_edited=”on|phone” locked=”off” global_colors_info=”{}”]<\/p>\n

Every Friday, Wahi brings you the most important real estate stories from the past week.\u00a0<\/p>\n

[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.18.0″ _module_preset=”default” custom_padding=”1px||39px|||” da_disable_devices=”off|off|off” locked=”off” global_colors_info=”{}” da_is_popup=”off” da_exit_intent=”off” da_has_close=”on” da_alt_close=”off” da_dark_close=”off” da_not_modal=”on” da_is_singular=”off” da_with_loader=”off” da_has_shadow=”on”][et_pb_row _builder_version=”4.18.0″ _module_preset=”default” custom_padding=”16px||16px|||” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.27.4″ _module_preset=”default” text_font_size=”21px” text_line_height=”1.6em” header_2_font=”||||||||” header_2_font_size=”36px” header_2_line_height=”1.3em” header_3_font_size=”1.25rem” header_3_line_height=”1.88rem” header_4_font=”|700|||||||” header_4_font_size=”1.25rem” header_4_line_height=”1.88rem” text_font_size_tablet=”21px” text_font_size_phone=”16px” text_font_size_last_edited=”on|phone” header_2_font_size_tablet=”36px” header_2_font_size_phone=”25px” header_2_font_size_last_edited=”on|phone” global_colors_info=”{}”]<\/p>\n

 <\/p>\n

Rents Spring Backwards
<\/strong><\/h2>\n

May marked the eighth straight month of year-over-year declines in rent prices, according to the latest report<\/a> from Urbanation and Rentals.ca. Last month, asking rents slipped 3.3% compared to the previous May, averaging $2,129. According to the report, the trend was driven by increasing supply, slowing population growth and overall economic uncertainty. Rents were down in four of Canada\u2019s six largest cities, including a 10% drop in Calgary<\/a>, 7% in Toronto and 6% in Vancouver. Despite recent declines, however, rents remain 12.6% higher than in 2022. \u00a0<\/span><\/p>\n

[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.18.0″ _module_preset=”default” background_color=”#edf7f3″ custom_padding=”32px||32px||true|false” da_disable_devices=”off|off|off” locked=”off” global_colors_info=”{}” da_is_popup=”off” da_exit_intent=”off” da_has_close=”on” da_alt_close=”off” da_dark_close=”off” da_not_modal=”on” da_is_singular=”off” da_with_loader=”off” da_has_shadow=”on”][et_pb_row _builder_version=”4.18.0″ _module_preset=”default” custom_padding=”||25px|||” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.27.4″ _module_preset=”default” header_2_text_align=”center” header_2_text_color=”#38505b” header_2_font_size=”2.63rem” header_2_line_height=”3.75rem” max_width=”800px” module_alignment=”center” header_2_font_size_tablet=”32px” header_2_font_size_phone=”27px” header_2_font_size_last_edited=”on|phone” header_2_line_height_tablet=”3.75rem” header_2_line_height_phone=”32px” header_2_line_height_last_edited=”on|phone” global_colors_info=”{}”]<\/p>\n

\u201cAccording to a new report by TD Bank, nearly half of those renewing mortgages this year are anticipating higher monthly costs, and 57% say it will impact their living situation.\u201d<\/h2>\n

[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.18.0″ _module_preset=”default” custom_padding=”57px||47px|||” da_disable_devices=”off|off|off” locked=”off” global_colors_info=”{}” da_is_popup=”off” da_exit_intent=”off” da_has_close=”on” da_alt_close=”off” da_dark_close=”off” da_not_modal=”on” da_is_singular=”off” da_with_loader=”off” da_has_shadow=”on”][et_pb_row _builder_version=”4.18.0″ _module_preset=”default” custom_padding=”11px||14px|||” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.27.4″ _module_preset=”default” text_font_size=”21px” text_line_height=”1.6em” header_2_font=”||||||||” header_2_font_size=”36px” header_2_line_height=”1.3em” header_3_font_size=”1.25rem” header_3_line_height=”1.88rem” header_4_font=”|700|||||||” header_4_font_size=”1.25rem” header_4_line_height=”1.88rem” text_font_size_tablet=”21px” text_font_size_phone=”16px” text_font_size_last_edited=”on|phone” header_2_font_size_tablet=”36px” header_2_font_size_phone=”25px” header_2_font_size_last_edited=”on|phone” global_colors_info=”{}”]<\/p>\n

Toronto Lowball City\u00a0
<\/strong><\/h2>\n

This bidding war season has been flipped on its head in one of Canada\u2019s most expensive cities. Instead of the usual overbidding insanity, Toronto is seeing most homes sell below asking this spring. According to our latest data<\/a>, the majority of homes sold below asking in 87% of GTA neighbourhoods in May, up from 84% in April and 60% last year. In 80% of neighbourhoods, most single-family homes spent the month in underbidding territory, as did condos in a whopping 98% of neighbourhoods. City-wide, 68% of homes sold for less than the list price, including 78% of condos and 64% of single-family homes. <\/span><\/p>\n

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<\/h2>\n

Another Week, Another Ominous Sign in Toronto \u00a0<\/strong><\/h2>\n

It doesn’t take a crystal ball, tea leaves or tarot cards to see where the housing market is heading in Toronto \u2014just MLS data<\/a>. According to the listing service, the GTA blew past its recent inventory record of 20,000 units in 2024, surpassing 32,000 active residential real estate listings, including nearly 13,800 condos. That marks a new highpoint in the disparity between supply and demand in years, and perhaps ever. Inventory was in decline at the start of the year, but trade war tensions and economic uncertainty have since brought sales to a near standstill as new homes hit the market.\u00a0 <\/span><\/p>\n

[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ admin_label=”Section” _builder_version=”4.24.2″ _module_preset=”default” background_color=”#f0faf4″ custom_margin=”0px||0px||false|false” custom_padding=”0px||0px||false|false” da_disable_devices=”off|off|off” global_module=”307775″ locked=”off” collapsed=”on” global_colors_info=”{}” da_is_popup=”off” da_exit_intent=”off” da_has_close=”on” da_alt_close=”off” da_dark_close=”off” da_not_modal=”on” da_is_singular=”off” da_with_loader=”off” da_has_shadow=”on”][et_pb_row column_structure=”1_2,1_2″ make_equal=”on” _builder_version=”4.24.2″ _module_preset=”default” custom_margin=”||0px||false|false” custom_padding=”||0px||false|false” locked=”off” global_colors_info=”{}”][et_pb_column type=”1_2″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_divider color=”RGBA(255,255,255,0)” _builder_version=”4.24.2″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_divider][et_pb_image src=”https:\/\/wahi.com\/wp-content\/uploads\/2024\/06\/Frame-7488.png” alt=”Wahi Cashback – Listings” title_text=”Wahi Cashback – Listings” url=”https:\/\/wahi.com\/ca\/en\/buy\/wahi-price” disabled_on=”off|off|off” _builder_version=”4.24.2″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_image][\/et_pb_column][et_pb_column type=”1_2″ _builder_version=”4.24.2″ _module_preset=”default” custom_padding=”||||false|false” custom_padding_tablet=”|||35px|false|false” custom_padding_phone=”|||0px|false|false” custom_padding_last_edited=”on|phone” custom_css_main_element=”margin: auto;” global_colors_info=”{}”][et_pb_text content_tablet=”<\/p>\n

The Smarter Way to Buy & Sell<\/h2>\n

” content_phone=”<\/p>\n

The Smarter Way to Buy & Sell<\/h2>\n

” content_last_edited=”on|phone” _builder_version=”4.24.2″ _module_preset=”default” header_2_font=”Poppins||||||||” header_2_text_color=”#38505b” header_2_font_size=”28px” header_2_line_height=”40px” header_3_font_size=”1.53rem” max_width_tablet=”” max_width_phone=”85%” max_width_last_edited=”on|phone” module_alignment=”center” custom_margin=”||10px||false|false” custom_padding=”||||false|false” header_line_height_tablet=”” header_line_height_phone=”” header_line_height_last_edited=”on|phone” header_2_font_size_tablet=”1.53rem” header_2_font_size_phone=”1.4rem” header_2_font_size_last_edited=”on|phone” header_2_line_height_tablet=”3.75rem” header_2_line_height_phone=”2.5rem” header_2_line_height_last_edited=”on|desktop” locked=”off” global_colors_info=”{}”]<\/p>\n

The Smarter Way to Buy & Sell<\/h2>\n

[\/et_pb_text][et_pb_divider divider_weight=”3px” _builder_version=”4.24.2″ _module_preset=”default” width=”100px” module_alignment=”left” height=”11px” custom_margin=”||14px||false|false” module_alignment_tablet=”left” module_alignment_phone=”center” module_alignment_last_edited=”on|phone” locked=”off” global_colors_info=”{}”][\/et_pb_divider][et_pb_text content_tablet=”<\/p>\n

A smart move starts with Wahi. Expert Realtors with unique data-driven insights and up to 1.5% cashback – an average of $15k* after closing on your new home\u2014it all adds up.<\/p>\n

” content_phone=”<\/p>\n

A smart move starts with Wahi. Expert Realtors with unique data-driven insights and up to 1.5% cashback – an average of $15k* after closing on your new home\u2014it all adds up.<\/p>\n

” content_last_edited=”on|phone” _builder_version=”4.24.2″ _module_preset=”default” text_text_color=”#000000″ text_font_size=”18px” text_line_height=”24px” custom_margin=”||0px||false|false” custom_padding=”||||false|false” custom_padding_tablet=”|90px|24px|0px|false|false” custom_padding_phone=”|10px|2px|10px|false|true” custom_padding_last_edited=”on|desktop” locked=”off” global_colors_info=”{}”]<\/p>\n

A smart move starts with Wahi. Expert Realtors with unique data-driven insights and up to 1.5% cashback – an average of $15k* after closing on your new home\u2014it all adds up.<\/span><\/p>\n

[\/et_pb_text][et_pb_button button_url=”https:\/\/wahi.com\/ca\/en\/buy-sell-with-wahi” button_text=”LEARN MORE” button_alignment=”left” button_alignment_tablet=”left” button_alignment_phone=”center” button_alignment_last_edited=”on|desktop” _builder_version=”4.24.2″ _module_preset=”default” custom_button=”on” button_text_size=”13px” button_letter_spacing=”1px” button_use_icon=”off” custom_margin=”30px||||false|false” custom_padding=”||||false|false” locked=”off” global_colors_info=”{}”][\/et_pb_button][et_pb_divider color=”RGBA(255,255,255,0)” _builder_version=”4.24.2″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_divider][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.18.0″ _module_preset=”default” custom_padding=”29px||0px|||” da_disable_devices=”off|off|off” global_colors_info=”{}” da_is_popup=”off” da_exit_intent=”off” da_has_close=”on” da_alt_close=”off” da_dark_close=”off” da_not_modal=”on” da_is_singular=”off” da_with_loader=”off” da_has_shadow=”on”][et_pb_row _builder_version=”4.18.0″ _module_preset=”default” custom_padding=”||4px|||” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.27.4″ _module_preset=”default” text_font_size=”21px” text_line_height=”1.6em” header_2_font=”||||||||” header_2_font_size=”36px” header_2_line_height=”1.3em” header_3_font_size=”1.25rem” header_3_line_height=”1.88rem” header_4_font=”|700|||||||” header_4_font_size=”1.25rem” header_4_line_height=”1.88rem” custom_padding=”||0px|||” text_font_size_tablet=”21px” text_font_size_phone=”16px” text_font_size_last_edited=”on|phone” header_2_font_size_tablet=”36px” header_2_font_size_phone=”25px” header_2_font_size_last_edited=”on|phone” global_colors_info=”{}”]<\/p>\n

The Results Are in on GST Rebate\u2019s Potential Impact \u00a0<\/strong><\/h2>\n

The new GST rebate for first-time buyers of new homes will provide serious relief, sometimes. According to a new analysis<\/a> by Desjardins, the recently tabled motion,<\/a> which offers first-time buyers a 5% rebate on new home sales up to $1 million could refund them about $50,000 total, reducing monthly mortgage bills by $240. Enjoying the full financial benefit, however, isn\u2019t all that easy, as it only applies to first-time buyers of newly built homes of exactly $1 million. Those same buyers should expect less relief on those same new homes if the price tag is higher, or lower. \u00a0 \u00a0\u00a0<\/span><\/p>\n

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Pinching Loonies \u00a0<\/strong><\/h2>\n

Canadian homeowners are busting out the bills and breaking out the spreadsheets as they prepare to take on higher mortgage costs. According to a new <\/span>report<\/span><\/a> by TD Bank, nearly half of those renewing mortgages this year are anticipating higher monthly costs, and 57% say it will impact their living situation. Over 73% of those up for renewal say they\u2019ll need to cut down on their spending in other areas to make up the gap. According to the survey, 43% plan to put home improvement projects on pause, 29% will need to downsize, and 15% are considering adding a roommate. <\/span><\/p>\n

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Wahi Staff Writer<\/p>\n

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Become a Real
Estate Know-It-All<\/span><\/h2>\n

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