Canadian housing

Activity in Canada’s real estate market will slow “modestly” next year as interest rates begin to rise

Empire Communities has a full slate of developments across the GTA and beyond as it heads into 2015.

Canada Mortgage and Housing Corp. said on May 30 an improving economy helped it earn $406 million in its latest quarter, up seven percent from a year ago.

It’s becoming increasingly difficult for families to own a home in Canada and affordability is only expected to get worse going forward, according to the Royal Bank of Canada. With house prices continuing to rise, RBC said its affordability index deteriorated in the first quarter of this year—the third quarter that has happened out of the last four—with the deterioration particularly acute in the hot markets of Toronto, Calgary, and Vancouver.

Activity in Canada’s real estate market will slow “modestly” next year as interest rates begin to rise

Empire Communities has a full slate of developments across the GTA and beyond as it heads into 2015.

Canada Mortgage and Housing Corp. said on May 30 an improving economy helped it earn $406 million in its latest quarter, up seven percent from a year ago.

It’s becoming increasingly difficult for families to own a home in Canada and affordability is only expected to get worse going forward, according to the Royal Bank of Canada. With house prices continuing to rise, RBC said its affordability index deteriorated in the first quarter of this year—the third quarter that has happened out of the last four—with the deterioration particularly acute in the hot markets of Toronto, Calgary, and Vancouver.