Bank of Canada interest rate pause is not likely to revive Canada\u0027s housing market like it did in the spring, economists say. Find out more
Activate your Online Access NowTwo more rate hikes in June and July put a damper on that rally, but this month the Bank paused again. Can we expect to see another bounce in the housing market?
Don’t count on it, says BMO senior economist Robert Kavcic, because this time “the headwinds are stiffer than they were the last time the Bank of Canada stepped aside.” “The Bank of Canada’s September 6th pause will help market psychology, and we wouldn’t fully write off this market given underlying demographic demand, but there are a few reasons why this pause might not provide the same burst it did in the spring,” he wrote in note.In March new listings were the lowest since 2003, because “homeowners didn’t want to, or have to, sell into a down market,” said Kavcic.
Now new listings are surging back to historic norms, up 5.5 per cent in August from last year, and there’s a record number of homes under construction that will make their way onto the market, he said.. In its financial system review earlier this year, the Bank of Canada highlighted concerns about the ability of households to service their debt when mortgages are renewed at much higher rates, with some facing payment increases of up to 40 per cent.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Here’s why Citizens Bank Park doesn’t have a dedicated hoagie placeThe home of the Phillies, located deep South Philly, the heart of hoagie country, has tons of food options. But conspicuously lacking from the culinary lineup is any kind of hoagie.
Leer más »
Why Putin infiltrates spies and disruptors to America and why authorities struggle to catch themRussia continues to send spies to try and infiltrate US society. Analysts note that while Washington cut back on resources following the fall of the Soviet Union, Moscow never did.
Leer más »
Post-Tropical Cyclone Lee rips ‘pretty impressive’ 93 MPH winds while racing toward CanadaThe storm was predicted to make landfall in Maritime Canada, in addition to possibly touching down in the extreme eastern portion of Maine.
Leer más »
Atlantic storm Lee makes landfall in Nova Scotia, Canada with winds of 70 miles per hourAtlantic storm Lee has made landfall in Nova Scotia, Canada, at near-hurricane strength with sustained winds of 70 mph (110 kph)
Leer más »
Lee makes landfall in Canada as storm wallops Maine with high winds, damaging wavesAccording to the National Hurricane Center, Lee came ashore on Long Island off the western coast of Nova Scotia on Saturday afternoon with winds of 70 mph.
Leer más »