Prolonged Iran war continues to stall Canadian housing market as bond yields rise
By
Salmaan Farooqui
Summary
The Iran war, which began in February, continues to negatively impact the Canadian housing market five months later. Despite multiple peace attempts, the conflict persists, causing bond yields to spike and fixed mortgage rates to rise by roughly 50 basis points. Economists and real estate experts warn that the inflationary effects could drag on for months, leading to another stagnant year for Canadian housing. What was initially expected to be a short-lived dampening effect has turned into a prolonged market downturn, shifting the outlook from modest gains to continued stagnation.
Source
bskyProlonged Iran war continues to stall Canadian housing market as bond yields risetheglobeandmail.comKey quotes
· 3 pulledWhen the Iran war started in February, the widespread belief was that its dampening impact on the Canadian housing market would be short-lived.
Five months and multiple peace attempts later, the war is still dragging on and economists and real estate experts are warning that the inflationary impact from the conflict could drag on for months and result in another stagnant year for Canadian housing.
The Iran war immediately affected the housing market, as bond yields skyrocketed and fixed mortgage rates, which usually track bond yields, increased by roughly 50 basis points.
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