Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
The Canadian Real Estate Association nearly doubled its forecast of how much home sales will decline this year as the central bank lifts interest rates, to a 15% decline from the previous 8% estimate, while projecting prices will still climb 11%.
The interest rate used to stress test new borrowers jumped by almost a percentage point in April alone to more than 6%, and variable rates will catch up later this year, CREA said in a report Wednesday. The group also reported sales fell 8.6% in May following a 13% fall in April.
Sources have told MNI there's a risk of a hard landing as the BOC lifts interest rates, see: BOC Needs Faster Hikes, though Governor Tiff Macklem has said some give-back is healthy in a frothy market.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.