RBC\u0027s CFO says Canada’s real estate markets could be more resilient than people think. Find out more
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Nadine Ahn, chief financial officer at Royal Bank of Canada, described the bank’s mortgage book as healthy even as home prices buckle under the weight of higher interest rates and a possible recession looms. High immigration numbers driving demand amid a supply crunch means the country will still be grappling with an imbalance.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc.
While benchmark home prices in the Greater Toronto Area declined more than 17 per cent year-over-year in , the market managed its first month-over-month gain in nearly a year. After the Bank of Canada’s aggressive rate hiking cycle last year, major housing markets like Toronto and Vancouver suffered double-digit declines from their pandemic peaks.
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RBC doesn’t see Canada's housing markets going into 'free fall'RBC\u0027s CFO says Canada’s real estate markets could be more resilient than people think. Find out more
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