RBC says economy will rebound, housing remains strong

The Canadian economy will improve in the second half of 2016 with a further boost in 2017 according to RBC Economics.

It says that growth will snap back following a weak second quarter, with low interest rates and federal stimulus easing the journey.
The report calls for a 3.7 per cent annualized GDP growth in the third quarter of 2016 and 1.9 per cent in the fourth. It sees a 1.8 per cent rise in GDP for 2017 following 1.3 per cent this year.

For the housing market, the outlook report highlights recent slowing of activity in BC largely due to policy changes impacting Vancouver, however it still expects a record year for the province.

Nationally, RBC expects the prices to end the year up 6.1 per cent as supply issues dominate but sales are expected to slip in 2017 with an overall decline of 3.5 per cent year-over-year.
 

Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate

Market update:

Investment Hot Spots:
Racine, Rocky Bay, White Sands, Seeley, Souris

Get help choosing the best mortgage rate

Just fill in a few details, and we'll arrange for a Mortgage adviser to help you find the best mortgage for your needs

  • How soon do you want a mortgage?
  • Name
  • Where do you live?
  • Phone number
  • E-mail address

Poll

Have your investment plans changed for 2017?