Watch out: the Canadian housing market could become a drag on the economy in 2019

The Canadian housing market hasn’t provided much of a boost to the country’s economy in 2018 and, according to one bank, it’s a trend that will likely continue in the new year.

Housing starts have been slowing in recent months, which CIBC economist Royce Mendes believes is a sign that the market will exert a drag on the Canadian economy in 2019.

CIBC: Expect two rate rises in the next 3 months

Homeowners could be facing two interest rate rises in the coming months according to an updated forecast. CIBC Capital Markets said Thursday that it was already expecting a rate rise in October due to anticipation that a NAFTA deal would happen. The agreement of the next-gen trade deal USMCA supports

Mortgage rules tear off a significant chunk of CIBC’s volume

In its latest report of its results, the Canadian Imperial Bank of Commerce announced that new mortgage sales volume weakened by over 40% in the second quarter of this year – a decline brought about by the new mortgage rules that took effect at the beginning of 2018. This was

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