Two steady housing years ahead: CMHC

The Canadian Mortgage and Housing Corporation, the crown corporation that insures Canadian mortgages, seems optimistic about the housing market in the next two years.

Recently, there have been steadily rising concerns of what record low mortgage rates will do to the housing market. However, in this article we learn the CMHC is predicting the market will stay at a steady pace into 2013. This coupled with the expanding Canadian economy is expected to keep the market on an even keel.

We also learn the average home price will slightly increase in 2012 and into 2013. These increases are moderate and shown to be consistent with the market conditions of 2011.