Housing Prices Forecasted to Drop 10 Percent: TD Bank

Housing Prices Forecasted to Drop 10 Percent: TD Bank
A for sale sign is displayed in front of a house in the Riverdale area of Toronto in a file photo. The Canadian Press/Evan Buhler
Chandra Philip
Updated:
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Housing prices are expected to drop 10 percent over the next several months, according to a newly released TD Bank forecast.
The bank had predicted a 5 percent drop in prices in September, but has now revised its forecast to double that number partly due to the “larger-than-anticipated loosening” of the housing markets in Ontario and British Columbia and partly due to the bank’s upgraded bond yield forecast. Bond yield is the rate of return a bond generates.