Latest in Mortgage News: House Prices to Moderate This Year, Says CMHC
Home prices are expected to finally level off from the “unsustainable” increases that have been seen over the past year, says the Canada Mortgage and Housing Corporation (CMHC).
“Low mortgage rates, high savings rates and persistent, uneven impacts of the pandemic and low immigration are forecast to continue to support sales of more expensive housing types while limiting rental demand,” the agency said in its latest Housing Market Outlook report. “Existing home sales and price growth will moderate from unsustainable 2020 pace of increase but will remain elevated.”
Article Written By: Steve Huebl
Original Article Posted on: May 12, 2021