Reuters
Up, up, up: Canada house prices poised to surge again despite central bank warning
Canadian housing prices are set to surge again in the coming months as investors and first-time buyers scramble to buy before interest rates go up, ignoring a warning from the Bank of Canada that there is a high risk of a sudden price drop. Central bank Deputy Governor Paul Beaudry told would-be home buyers on Tuesday to consider if it is a “good time to buy or not,” pointing to market frothiness in certain cities and renewed investor activity. The Bank of Canada last month signaled the overnight rate, currently at a record low 0.25%, could start rising in the “middle quarters” of 2022.