​Canada's housing market is taking the brunt of rate hikes: Expert - BNN Bloomberg

, the bank stated it is concerned with Canadians ability to face future financial pressures as mortgages are due to renew in the coming years and homeowner equity has dropped with the recent decline in housing prices. “It suggests that the housing market is taking the burnt of interest rate increases,” John Silvia, founder of Dynamic Economic Strategy, told BNN Bloomberg in an interview on Thursday.

Last year the DSR rose from 16 per cent to more than 19 per cent, while the share of new mortgages with a DSR of more than 25 per cent increased from 12 per cent to 29 per cent. The data reveals that Canadian borrowers have receded financial flexibility. As for the possibility of the North American central banks easing some these pressures with rate cuts, Silvia ruled it out. “The bet that the U.S.

México Últimas Noticias, México Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

U.S. bank issues will set focus for Canadian bank earnings: CIBC analysts - BNN BloombergTurmoil in the U.S. banking sector will likely set the tone for bank earnings in Canada when reporting begins next week, but CIBC researchers maintain that Canadian lenders are more secure than their American counterparts.
Fuente: BNNBloomberg - 🏆 83. / 50 Leer más »