New home prices are expected to continue rising during the first half of 2022, according to Statistics Canada.
The impending interest rate hike by the central bank is likely to impel further price growth “as buyers attempt to secure lower interest mortgages before the Bank of Canada announces rate increases,” StatsCan said.
However, “since mortgage interest rates are currently at historically low levels and Canadians gathered a record amount of savings during the pandemic, the potentially upcoming rate increases may still not dampen the buoyant housing market in the near future,” StatsCan predicted.# Sandi Halpern # sold # leased #interestrates #statistics #housing #future
Post a comment