Canadians’ housing purchasing power in 2022 appears to be in peril due to higher home prices and mortgage rates, according to a veteran finance markets observer.
In particular, a return to pre-pandemic mortgage rates might derail the national housing market’s momentum next year, financial analyst Christopher Liew said in a recent contribution to The Motley Fool.
“Affordability is already a concern before higher interest rates take effect next year,” Liew said. “The Bank of Canada expects elevated inflation until the first half of 2022 before it tapers toward 2% in the back half.”
source: cmp.ca
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