A stronger economy will offset the effects of higher mortgage rates and keep Canadian house prices stable over the next two years, according to the Royal Bank of Canada.
In a market update that has the bank forecasting price gains of 0.5 per cent in 2011 and 1.3 per cent in 2012, economist Robert Hogue said that after two years of “gyrating wildly,” the Canadian housing market is likely to be a much less interesting place for the next several years.
Source: Steve Ladurantaye
Globe and Mail Update
Published Thursday, Feb. 10, 2011 6:00AM EST
Last updated Thursday, Feb. 10, 2011 8:45AM EST
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