Could this be another block of ice thrown onto an already rapidly cooling market?
“The Toronto Real Estate Board says the number of residential properties sold in August was down 34.8 per cent from the same month last year, but the average price was up modestly.
The average price for all home types was $732,292, still up three per cent from August 2016, but down from July’s average of $746,033.”
Bank of Canada Raises Benchmark Rate to 1%
by Theophilos Argitis
The Bank of Canada forged ahead with another interest rate hike in a nod to the country’s surging economy, while signalling its appetite for further tightening may be curbed by a rising Canadian dollar and sluggish inflation.