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Canada's housing market not showing impact of higher interest rates: Report - BNN Bloomberg

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Home prices in some of Canada’s most populated cities rose in May, showing resilience amid the heightened interest rate environment, a new report has revealed.

The price of a home jumped eight per cent in Toronto, and seven per cent in Vancouver, over the past four months relative to trough levels in January 2023, according to data released by Keefe, Bruyette & Woods on Tuesday.

The Bank of Canada’s overnight lending rate currently stands at 4.50 per cent ahead of the bank’s next interest rate decision set to be released Wednesday.

 

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