Ottawa, ON, May 15, 2015- According to statistics released today by The Canadian Real Estate Association (CREA), national home sales activity posted a third consecutive month-over-month increase in April 2015.
The Bank of Canada’s top brass assured a parliamentary committee that Canada’s bloated housing market has not become a risky asset bubble, despite the central bank’s own calculation that house prices nationwide are roughly 20 per cent overvalued.“We don’t believe we’re in a bubble,” Bank of Canada Governor Stephen Poloz said in testimony Tuesday to the House of Commons Standing Committee on Finance.
Fixed-rate penalties are of particular importance in the current interest-rate environment because the differences in the methods used to calculate them are actually more pronounced when fixed-mortgage rates stay flat or rise slightly over an extended period – exactly the scenario that many experts predict will unfold in the coming years.
When it comes to the endless examination of Canada’s housing market, nothing stirs up as much passion on both sides of the debate as the condo investor (or condo speculator depending on your point of view).
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