Royal Bank CEO says home prices could fall


Canadian housing prices could fall as much as 15 percent should interest rates climb, which would be "healthy" for the country's economy, Royal Bank of Canada (RY)Chief Executive Officer David McKay said.  "There could be some price correction, particularly in a rising rate environment," McKay, 51, said last Thurs in an interview at the bank's Toronto headquarters.  "I don't see it to the extent that the Bank of Canada does, but I do think you could have a 10 to 15 percent price correction."

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Michael James

Michael James

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