How Rising Interest Rates Are Affecting Home Builders in 2023

Interest rates have continued to rise and we've seen inflation slow down, but what does that mean for the Toronto housing market, mortgage rates, and home prices in 2023? Both Mike Gatti and myself (Steve Zalunardo) have close connections to the home building/construction community in Toronto and we've been hearing some rumblings of slow downs. With interest rates reaching historic highs, many home builders are facing challenges in finding financing to build new homes. As a result, we're seeing a decrease in the number of homes being built in Toronto - and North America as a whole.

In this video, we're discussing our predictions on future interest rate hikes and how rising interest rates are affecting home builders in Toronto for 2023.