Toronto Home Prices Surged 17% YOY Feb 2020 to C$910K Closing In on Apr 2017 Peak Value of C$921K. Number of sales were up 45% year over year in Feb 2020. With US Fed cutting interest rates by 0.50 to 1% and US 10 year bond at 1%, Bank of Canada was forced to follow suit with a 0.50% cut as Canada and US economies are tightly integrated. This has reduced the mortgage rates with first RBC lowering its Prime Rate to 3.45% from 3.95% and all other Canadian banks following suit. I believe Canadian House Prices will continue to be elevated until rates rise or a recession causes job losses.
Toronto Home Prices Surged 17% YOY Feb 2020 to C$910K
Toronto Home Prices Surged 17% YOY Feb 2020 to C$910K
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