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Barry Fenton, president and CEO of Lanterra Developments, Robert Kavcic, senior economist at BMO Capital Markets, and Jim Thorne, chief market strategist at Wellington-Altus Private Wealth, discuss the effects the latest rate hike by the Bank of Canada will have on housing markets.
Rising mortgage rates are hitting potential homebuyers hard, and that is taking steam out of the homebuilding market. Builder sentiment in the market for newly built homes dropped six points to 50 in August, according to the National Association of Home Builders/Wells Fargo Housing Market Index. That is the first decline in seven months and the…
