Low Mortgage rates help improve Housing Market

New-housing prices in Canada rose 0.2 per cent in June from May, as analysts expected, gaining for a seventh consecutive month, Statistics Canada said on Thursday.

On a year-over-year basis, prices were up 1.5 per cent, the same as in May.

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Canada Mortgage and Housing Corp. said Wednesday it expects the average price of houses sold over the Multiple Listing Service (MLS) to rise 4.5 per cent this year to $399,800.

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Forecasters are hiking their expectations for Canada’s housing market amid signs low mortgage rates are energizing sales, construction and prices.

 

Low Mortgage rates Help Improve Housing Market

 

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The Valenti Team

The Valenti Team

Sales Representative
CENTURY 21 Blue Sky Region Realty Inc., Brokerage*
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