Home values in Canada are at a record and mortgage rates are at a 5-year high, but that’s not slowing sales. 42,039 homes were sold in May according to the Canadian Real Estate Association. That too is a record. Hamilton Spectator
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Last modified: June 22, 2007
I don’t expect that the boom will bust until 50% of new mortgages are interest-only or 50-year amortizations. People are still finding ways to stretch their buying power.
Kyle