There have been a couple of highlights for the Canadian housing market in the past week: the U.S. Federal Reserve announcement that it is committed to low interest rates until 2015 and the latest global housing outlook that puts this country in better shape than most. Anyone looking for a mortgage or a renewal will likely be heartened by the American central bank's interest rate pledge.
The commitment to low rates makes it harder, but not impossible, for the Bank of Canada to move on its desire to increase rates. As for the global housing outlook, it shows Canadian prices continue to rise, albeit more slowly than a year ago. But around the world, countries showing price declines outnumbered gainers by more than two to one.
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