Brexit, Mortgages and housing markets in Canada? What? How do those correlate?! Well the simplest way to draw the connection is immigration. The UK wants to gain more control over their borders and tighten up who they let in vs keep out. Breaking off from the European Union was the best way in their eyes. With both the UK and the US trying to tighten their borders and allow less people into their countries, immigrants need some place to go and their choices are seemingly becoming narrower. Canada is a fantastic place to move to, and it’s quickly becoming the Country of choice. More people immigrating to Canada means a busier housing market, and with it, a busier mortgage market. If we receive more immigrants, that’ll mean demand goes up, and more likely than not, price will follow in suit. If you’re worried about a bubble in Toronto, this could be the turning point in solidifying the market if you’re unsure. Even if the prices don’t rise by much, they certainly wouldn’t be heading in the downward direction. So what does that mean for us? Do we tighten up our boarders as well to try and keep our housing market less busy, and follow in suit with our allies? I don’t see why we would do such a thing. Canada has always prided itself on its acceptance of other people regardless of where they are coming from and is glad to help others where we can (i.e. the taking in of Syrian refugees). As well as aiding in national pride, the acceptance of immigrants will also help the Canadian economy, and stimulate all kinds of business. Ultimately the Brexit might lead to the rejection of immigrants to the UK, and to them I say one thing. You are welcome here any time!