When the leaves start to turn and the mercury begins to drop, mortgage rates might be lower, too, one economist predicts.
The latest reading of Canada’s economy brings both good and bad news for the housing market.
The Bank of Canada is unlikely to increase interest rates next week according to a panel of leading economists, which has also commented on Canadian housing policy.
Less than 60% are feeling good about the economy this year, however – considerably lower than the 65% in 2017. The proportion of those pessimistic about the economy is also catching up, at 41%.
Canada’s economy is adjusting well to higher borrowing rates and tighter mortgage lending restriction. That was one of the key messages from the Bank of