Blog Article

Wednesday, 26 October 2022

By Kim Owen

Leah Zlatkin quoted in CMP Magazine: ‘First-Time Buyers Feeling The Squeeze In Rising-Rate Environment’

https://www.mpamag.com/ca/mortgage-industry/industry-trends/first-time-buyers-feeling-the-squeeze-in-rising-rate-environment/425271

As home prices spiked across Canada’s hottest housing markets over the past two years, a growing cohort of new homebuyers turned to parents or guardians to help fund their purchases – but that’s a strategy that could be an increasingly risky one in the current climate, according to an industry expert.

Leah Zlatkin (pictured), chief operating officer at the Mortgage Outlet brokerage, told Canadian Mortgage Professional that buyers who relied on a cosigner to qualify for their mortgage but weren’t receiving any assistance with the monthly payments could find themselves especially vulnerable in the rising-rate environment with margins already tight.