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Historically low mortgage rates have stimulated home sales nationwide and in turn have renewed pressure on house prices.
In the August release of the Teranet-National House Price Index, only Quebec was down slightly on an annual basis (-0.1%). Compare that to just a few months back in April when there was y/y house price deflation in Victoria, Halifax, Montreal Quebec and Ottawa.
Calgary price growth led the nation yet again in August, this time posting a 7.9% y/y increase, followed by Hamilton & Toronto (6.7%) and Vancouver (6.1%).
Teranet HPI August 2014
However, National Bank warns that this “acceleration in house prices is not likely to be sustained, with higher mortgage rates looming in 2015.”
TD echoes the same sentiment in their research note: “Looking ahead, a moderate employment picture and gradually rising interest rates suggest that the accelerating trend in home price growth may not be sustained.”.......
In the August release of the Teranet-National House Price Index, only Quebec was down slightly on an annual basis (-0.1%). Compare that to just a few months back in April when there was y/y house price deflation in Victoria, Halifax, Montreal Quebec and Ottawa.
Calgary price growth led the nation yet again in August, this time posting a 7.9% y/y increase, followed by Hamilton & Toronto (6.7%) and Vancouver (6.1%).
Teranet HPI August 2014
However, National Bank warns that this “acceleration in house prices is not likely to be sustained, with higher mortgage rates looming in 2015.”
TD echoes the same sentiment in their research note: “Looking ahead, a moderate employment picture and gradually rising interest rates suggest that the accelerating trend in home price growth may not be sustained.”.......
Тут продолжение http://calgaryrealestatereview.com/2014/09/12/low-interest-rates-spurring-house-sales-but-for-how-much-longer/
