All kind of news today, some say home prices are soaring, some say it’s dying of some sort … Overall, good news – It’s booming still.
TORONTO (Reuters) – Canadian home prices were unchanged in September after hitting a record high the month before, suggesting the housing market is cooling, the Teranet-National Bank Composite House Price Index showed on Tuesday.
The index, which measures price changes for repeat sales of single-family homes, showed overall prices were flat last month from August. House prices normally average a gain of 0.2 percent in September, according to Teranet.
Still, the index was up 2.7 percent on an annual basis due to a decline in prices in September 2012.
Who to believe ?
“Over the entire course of next year, I expect the five-year yield to go from 2.05 to 2.55 per cent, so I think the balance of risks are that, in 2014, fixed mortgage rates will creep up a little bit,” he said.