Economics
Virus-Driven Rate Cut Could Add Kerosene to Canada’s Housing Market
- Toronto market was already on the rebound heading into spring
- Lower demand from China poised to put crimp on Vancouver
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Canada’s housing market is poised for a hot spring -- with lower mortgage rates likely to offset any major drag from the coronavirus.
While a reduced travel from China may crimp sales in Vancouver, and the potential for a recession could set the market back, the possibility of interest rate cuts from the Bank of Canada is likely to fuel further declines in mortgage rates and draw buyers into the market.