Although low mortgage rates will continue to fuel sales this year with prices increasing accordingly, the bank's economist Diana Petramala says “it is hard to point to a catalyst for a further acceleration in housing market activity.”
Cuts in the interest rate and consequently in mortgage rates has made 2015 a record-breaking year, the report says, and the collapse in oil prices has had less of an impact that expected.
“Edmonton, Calgary, Regina and Saskatoon have weakened considerably so far this year, but to a lesser degree than was originally anticipated,” said Petramala.
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
Investment Hot Spots:
Hallville, Belnan, Pinette, Division No. 5, Latulipe-et-Gaboury
Home prices will slow to just 1% in 2016, TD Bank says in a new report.