006: What’s in store for the economy in 2018?
What’s in store for the economy in 2018?
This past year we saw many challenges in the housing sector. There were the recent changes to the mortgage rules that included a “stress test” for all insured mortgages.
We saw housing prices increase in some areas of the country while in other areas we saw a slowdown of housing activity. We’ve also seen the fixed-rate on mortgages start to climb due to the upward pressure on bond yields and increases to the cost of funds.
There is concern about high consumer debt. The market is still jittery about the policies of the incoming US president. Yet Canadians are resilient. Despite gloomy predictions, despite increasing debt loads, despite all the changes we have endured, we continue to look on the bright side and consumer confidence is high.
This month we talk to Will Dunning to get a bird’s-eye view what lies ahead for the Canadian economy and the housing market. Will is the Chief Economist for Mortgage Professionals Canada who specializes in analysis of housing and mortgage markets