Category: Uncategorized
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Canada’s Housing Starts Hit 10-Year High In June: CMHC
In June, housing starts across Canada surged to their highest level in 10 years, according to Canada Mortgage and Housing Corp. (CMCH). The rate of multi-unit urban starts rose 59% to 219,914, while the rate of starts for single-detached urban homes increased by 3% to 42,901. Toronto and Vancouver led the way in construction, comprising…
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Canada’s Mortgage Rates Might Rise Soon
BoC raised its interest rate by 25 bps to 4.75% in response to a strong Q1. Resultantly, mortgage lenders may increase 5-yr fixed mortgage rates above 5.5%. Housing markets have shown signs of recovery in recent months.