The pandemic mortgage boom has subsided – but there’s still plenty of competition at play

At the height of Canada’s pandemic-era housing and mortgage boom, frenzied bidding wars and feverish competition emerged as two of the most prominent trends throughout the country’s hottest markets.

Scores of would-be homebuyers looked on in despair, forced to shelve their purchasing plans as other bidders ramped up offers and pushed home prices to eyewatering levels that were unmatchable for many – even with interest rates hovering near a rock-bottom low.