Veteran mortgage broker Robert McLister says that the election of Donald Trump to the White House could be a “game-changer” for Canadian real estate, and not in a good way.

He told the Globe and Mail that the president-elect’s policies could fuel inflation and higher interest rates, which would then impact mortgage rates.

McLister says that borrowers need to consider their strategy now and how they might benefit from locking-in rates amid the expected turbulence ahead for the financial markets.

With the recently-introduced mortgage regulations and potentially higher mortgage rates down the line, McLister says homeowners could start to see prices easing, although that would create opportunity for buyers, especially first-time buyers.

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