Bank of Canada warns of housing market vulnerability

The bank that cried wolf: Housing market vulnerabilities are still high.

Vulnerabilities in the Canadian housing market are still high despite rising interest rates and tighter mortgage rules, Bank of Canada Senior Deputy Governor Carolyn Wilkins said on Thursday.

It also released results of a model it said showed Canadian banks’ capital positions would not be affected by a 20 percent correction in the housing market, with the biggest declines in Toronto and Vancouver.

Read the full article here.

Saturday Free-for-all!

Hey why not? It’s Saturday so let’s kick off our weekend open topic discussion thread!

Here are a few recent links to kick off the chat:

Fraser Valley sales drop 50%
Public input on Real Estate dirty money
CMHC forecasts 11% drop in buying power
Free mortgage deal in Langley
Regulators take aim at HELOC growth

So what are you seeing out there? Post your news links, thoughts and anecdotes in the comments below and have an excellent weekend!