Mortgage Rates in the US Climb for a Fourth Week to Reach 7.17%
Mortgage rates in the US increased for a fourth straight week.
Latest Videos
The information you requested is not available at this time, please check back again soon.
Mortgage rates in the US increased for a fourth straight week.
It’s independents, a growing voting bloc, who drive election victories in the swing state, where the GOP is rushing to defuse abortion as an issue.
Pending sales of existing US homes in March reached their highest levels in a year in spite of persistently high borrowing costs and a low supply.
Blackstone Inc. agreed to sell a student-housing portfolio to KKR & Co. for $1.64 billion.
Whirlpool Corp., the owner of the Maytag and Amana appliance brands, is cutting about 1,000 salaried positions worldwide to reduce costs as slow US home sales limit demand.
Mar 9, 2020
BNN Bloomberg
,Canadian housing starts remained at elevated levels in February, amid strength in the detached-home market.
Work began on an annualized 210,069 units, Canada Mortgage and Housing Corp. said in a statement Monday. While that’s down 1.9 per cent from January, it beat economist expectations for a 207,000 increase.
The numbers suggest relatively robust levels of new construction activity, and are consistent with what has been a clear recovery in demand in some of the nation’s largest housing markets. That’s good news for a Canadian economy that will increasingly rely on housing to generate growth this year, amid worries about a global economic slowdown.
“With household formation still solid and interest rates now much lower, the housing market is one area of the economy which should be more resilient to the slowdown we now anticipate based on recent global developments,” Andrew Grantham, an economist at CIBC World Markets, said in a note to investors.
[Canada housing starts remain elevated]Among major cities, Vancouver led gains with a 56 per cent increase in February. Montreal and Toronto pared back recent increases, with both cities recording declines during the month. Overall, Canada recorded a 6.1 per cent drop in multiple urban starts during the month, while single-detached starts rose 11.9 per cent.
Separately, Statistics Canada reported the value of building permits in January rose 4 per cent, more evidence of strength in the sector.