A report by Canada Mortgage and Housing Corp. says higher interest rates decreased housing starts by about 30,000 units last year.
The Canadian PressRob McLister, mortgage strategist of MortgageLogic.news joins BNN Bloomberg to discuss the effects of rate cuts on real estate , housing market.
The slowdown in new construction amounted to a 10 to 15 per cent reduction in the number of new starts for the year, the national housing agency said. CMHC added that the effect of higher rates was offset by other economic factors and government policies to support construction of rental buildings.
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