“What happens when income supplements fall off and you start raising interest rates? The whole refinance market goes offline,” said Jason Del Vicario, a portfolio manager at Hillside Wealth Management in Vancouver. Recently, the market has begun to question the longevity of that trend.
Rock-bottom interest rates, combined with government financial support to households, have sustained booming demand for mortgages. Pandemic-era real estate has been white hot. It’s a business model that aligns closely to housing activity, particularly in the U.S. It’s been a dramatic reversal of fortune for the Markham, Ont.-based company, which helps mortgage lenders and other businesses manage functions such as appraisals and title searches.
