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In Toronto, average resale home prices have surged more than 17 per cent since the same period last year, while prices for detached houses jumped an annualized 18 per cent to $1.21-million. (Ian Willms For The Globe and Mail)
In Toronto, average resale home prices have surged more than 17 per cent since the same period last year, while prices for detached houses jumped an annualized 18 per cent to $1.21-million. (Ian Willms For The Globe and Mail)

Ottawa’s housing stress test is needed, CMHC head says Add to ...

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Ottawa’s new standard for gauging whether borrowers can handle higher interest rates to buy homes is necessary to prevent damaging the broader economy, says the head of Canada’s housing agency.

Evan Siddall, chief executive officer of Canada Mortgage and Housing Corp., said he is concerned about warning signs in the country’s housing market, especially in the Vancouver region and Greater Toronto Area.

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