Posthaste: The way the housing market is stalling, the Bank of Canada may have to hit the brakes sooner than expected

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For the first time since 2010, five\u002Dyear fixed mortgage rates are all above 4%

The numbers are in and, as one economist puts it, April was the cruellest month for the housing market.

Aside from Calgary and Edmonton, home sales in other major Canadian markets have sunk below their pre-pandemic levels, says Capital Economics. “April proved to be the cruellest month for the housing market, with the recent jump in mortgage rates causing large falls in sales across the country,” wrote senior Canada economist Stephen Brown.

 

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How is this a bad thing?...Runaway real estate prices and inflation are ruining our economy as well as people's dreams of owning a home...Only people that disagree are agents, investors and wall street. We need some balance back..... Who does these types of articles benefit?🤔

Someone is sure pushing this agenda in the National Post

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