A new Re/Max Canada report says the Vancouver and Toronto housing markets have the lowest loan-to-value ratios, despite being the country's most expensive.
Regina and Edmonton had the highest loan-to-value ratios at 88 per cent and 83 per cent, respectively, the report says. The report found loan-to-value ratios have fallen in 67 per cent, or eight markets, tracked by Re/Max over the past decade.The four markets where loan-to-value ratios have worsened over the past decade were in the two Prairie provinces.
"I think it's all context, right? There are certainly a lot of people that have maybe overextended themselves or what have you, but majority speaking, the change in the rate environment are only affecting those that first got their mortgage five years ago or they went to private lenders," Alexander said.