According to Scotiabank vice president of Capital Markets Economics; Derek Holt, there remains a little risk of a crash in the housing market across Canada. Especially in a small market like Squamish. Speaking to mortgage professionals, he said that while mortgage rates are starting to increase to combat inflation, most buyers are still seeing below historic “average rates”. “The large increase in cash balances that occurred over the pandemic combined with the record-high amount of home equity on Canadian balance sheets paints a picture of a household sector that can manage the rate shock we’re likely to get,” he said....
- May 31, 2022, 4:46 a.m.