CMHC sounds warning on sharp interest rate hikes
A sudden rise in interest rates could cause house prices to plummet on average 30 per cent nationally, according to stress tests performed by Canadas federal housing agency released Thursday.
A sudden rise in interest rates could cause house prices to plummet on average 30 per cent nationally, according to stress tests performed by Canada's federal housing agency released Thursday.
Canada Mortgage and Housing Corp. said it studied the impact of two interest rate hikes a one percentage point increase over one quarter this year, followed by a 1.4 percentage point rise during one quarter next year.