Canada reports Citi Canada

Bank of Canada is signaling faster rate hikes. What that means for Canada’s housing market

Reading now: 861
globalnews.ca

pandemic housing boom has attracted a larger-than-usual share of speculators, many of whom took advantage of falling variable mortgage rates to take out multiple loans, but the central bank’s surprise warning this week about an early interest rate lift-off could douse a rally fueled by cheap debt.Earlier and faster rate hikes could trigger higher payments for many of these buyers, and investors with multiple properties could respond by selling some of them into ebbing demand if their commitments become too onerous.Already, the housing market has started to cool as fixed rate mortgages rose 60 basis points on average this year, according to Ratehub.ca, tracking rising bond yields.

Read more on globalnews.ca
The website covid-19.rehab is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

DMCA