OTTAWA - Canada's housing market is slowing dramatically in terms of both sales and construction, dragging down economic growth and putting some 150,000 jobs at risk in coming years, a mortgage industry association warns in its spring report.
OTTAWA — The Bank of Canada should raise interest rates now because five years of low rates are creating distortions in the economy, such as excessive debt and an overheated housing market, a former advisor to central bank Governor Mark Carney said on Wednesday.
Ottawa, ON, May 15, 2013 – According to statistics released today by The Canadian Real Estate Association (CREA), national home sales edged up slightly on a month-over-month basis in April 2013. Activity has generally held to within short reach of current levels for the past nine months. Highlights: National home sales rose 0.6% from March […]
Canada Mortgage and Housing Corp., the country’s national housing agency, is finally on the path to being operated like a significant financial player which it has morphed into during the past decade. A new chairman of the board, a soon-to-be unveiled chief executive and a new reporting structure that will overhaul its operations are the tangible indications of the fundamental changes playing out behind closed doors at the Crown corporation.
Sales of homes across the GTA slipped by 2.1 per cent in April, but prices were up 2 per cent, as the usually hot spring market suffered through another wet, cold month.
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