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Canadian economy keeps slowing down amid growing interest rates

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Latest news

Canadian economy keeps slowing down amid growing interest rates

In July, Canada’s economic activity was slightly stronger than expected. However, it was still weak during the summer pointing to the fact that growth is slowing significantly. According to Statistics Canada, gross domestic product was up by 0.1% in July, exceeding the forecasts of...
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Canadian real estate market shows the worst affordability level on record

According to an assistant chief economist at RBC Economics Robert Hogue, home purchase in Canada is the least affordable right now than ever, as growing interest rates are raising ownership costs to record-high levels.  “The central bank’s rate increasing campaign since March has raised...
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Re/Max predicts housing prices decline this fall

According to a new report by Re/Max Canada, the national average real estate price will go down by 2.2% during the last months of 2022. The report says the moderation in the market expected for the September-to-December period is caused by growing interest rates, record inflation...
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Teranet real estate prices index shows the largest decline on record

According to the new report, a Canadian home price index showed the strongest decline in its history last month, as growing borrowing rates slowed down the national real estate market. The Teranet–National Bank National Composite House Price Index was down by 2.4% from July...
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More Canadians choose renting a property instead of buying

The latest report by Statistics Canada says Canadians more often choose to rent a home instead of purchasing is as real estate prices keep going up. According to StatsCan, Canadian renting households were up by 21.5% from 2011 to 2021, which is more than...
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