The Thursday news briefing: An at-a-glance survey of some top stories
Highlights from the news file for Thursday, Nov. 17
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CMHC SOUNDS INTEREST RATE WARNING: Canada’s federal housing agency says stress tests it has performed indicate a sudden rise in interest rates could cause house prices to plummet on average 30 per cent nationally. Canada Mortgage and Housing Corp. says it studied the impact of two interest rate hikes — a one percentage point increase over one quarter this year, followed by a 1.4 percentage point rise during one quarter next year. CMHC said its mortgage insurance business would incur $1.13 billion in losses in such an event but that it could withstand the hit.
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