Low mortgages rates stimulating demand, says CMHC economist
The Canada Mortgage and Housing Corporation said today that housing starts rose to the highest level yet this year in June.
Builders were producing homes at an annual rate of 237,200 units, up 7.2% from 221,300 units in May.
In a release, CMHC’s chief market economist Bob Dugan said “The popular five-year fixed mortgage rate has fallen in recent months. This and other solid fundamentals are stimulating new home construction.”
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