Property News · September 12, 2017

Canadian rate rise seen spurring housing before consumer crunch


A second rate rise by the Bank of Canada will temporarily goose housing as buyers look to complete deals before mortgage rates go up, but higher borrowing costs will soon weigh on Canada’s indebted households and douse spending and home buying.
The central bank raised rates unexpectedly last week, the second increase in a row, but pledged to pay close attention to how the economy reacts to the higher cost “given household indebtedness”.
Canada’s long housing boom has…

Source : South China Morning Post
Read more…Canadian rate rise seen spurring housing before consumer crunch

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