Canadian Press
Sun
OTTAWA (CP) – Financing rates at half-century lows continued to keep the housing industry humming in August, Canada Mortgage and Housing Corp. reported Tuesday.
The seasonally adjusted annual rate of housing starts increased by over 10,000 to almost 224,000 last month.
CMHC said starts so far this year have exceeded 2002 levels by 4.7 per cent.
Urban multiple starts were up 16.2 per cent from July.
But single-family housing starts suffered last month, down 4.3 per cent, largely because of the power grid failure in Ontario.
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