Mortgage rates have retreated somewhat since their 2023 peak but remain higher than what we would normally expect. … READ MORE >
mortgage rates
Bank of Canada preview: A dovish tone with rate cuts on horizon
The Bank of Canada will almost certainly leave its policy rate unchanged when it meets this week, but the tone of its statement will shift to dovish. … READ MORE >
Existing home sales exceed forecasts as prices jump
There were 4.38 million existing homes sold in February, up by 9.5% from a month ago, the National Association of Realtors reported on Thursday. … READ MORE >
New home sales grew more slowly in January amid elevated mortgage rates
Sales of new homes grew 1.5% in January, much slower than the 7.2% increase in December, most likely because of elevated mortgage rates. … READ MORE >
Initial jobless claims and housing starts post upside surprises
Filings for jobless benefits fell last week to the lowest level in 16 months, a testament for how resilient the labor market continues to be. … READ MORE >
Canada’s economy contracted more than expected, suggesting a pivot on rates
Canada’s gross domestic product declined by 0.3 per cent in the third quarter and by 1.1 per cent on an annualized basis. … READ MORE >
U.S. existing home sales plunged to their lowest level since 2010
In October, sales of existing homes dropped to 3.79 million, marking the lowest point since 2010, the National Realtor Association reported on Tuesday. … READ MORE >
Existing home sales fall to the lowest level since 2010
Demand for existing homes has plunged in six out of seven months since February, falling to 3.96 million in September. … READ MORE >
Housing prices set a record as consumer confidence dips
Housing prices set a record in July, according to the S&P CoreLogic Index, rising by 0.87% on a seasonally adjusted basis. August’s new home sales, however, dropped by a sharp 8.7%. … READ MORE >
Housing starts fall to three-year low amid 7% mortgage rate
Housing starts in the United States fell by a sharp 11.3% in August, the second double-digit drop in three months. … READ MORE >