Canadian housing market leading the way for the economy to rebound
Buying a home is one of the most important and exciting steps in your life…. Find the home you want now you need a mortgage. Deal with people who can offer you and your family the best options. Devin Cristo and Wes Will of Mortgage Now Inc are Saskatoon Mortgage Experts. We have many years of experience helping individuals and families by offering mortgages from a variety of lenders. In our latest article, we share the latest news and forecasts about the Canadian housing market.
Canadian Housing Market 2018 forecast
The Bank of Canada (BoC) announced at the end of April 2018, that after a weak economic performance in the first quarter of 2018, it is predicting a rebound for the economy in the coming months.
“GDP growth in the first quarter was weaker than the Bank had expected but should rebound in the second quarter, resulting in 2 percent average growth in the first half of 2018,” reads the BoC announcement.
The weak first-quarter performance — which saw GDP growth fall sharply from 2.5 to 1.3 percent — has been widely attributed to a flagging housing market, as home sales dropped after the introduction of a new mortgage stress test on January 1.
