Rising mortgage rates have hit Canadians hard. Experts say they’re becoming a drain on the economy too
‘It has a direct impact on our GDP,’ says Rishi Sondhi, economist at TD Bank.
GTA real estate sees second worst August for new homes sales on record
Sales of new homes are 63 per cent below the 10-year average.
Toronto area new home sales just saw their second worst August on record — will they recover?
Sales were 63 per cent below the 10-year average as buyers and developers continue to wait on the sidelines amid uncertainty around the Bank of Canada’s rate hikes.
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