27 November 2018

Meanwhile, others couldn’t meet the new mortgage qualification standards, implemented in January.

According to Mendes, the real estate market will hardly boost the national economy in the fourth quarter of 2018, as the market activity is still quite weak.

BMO chief economist Douglas Porter shares this opinion, adding that low results may keep the Bank of Canada from raising rates again until 2019.

“Weaker results in the third quarter mean that the fourth one will not show better performance either”, – he says. “As a result, the BoC may step back until the next year”.