A new report from the International Monetary Fund (IMF) claims the Canadian housing market is overvalued by about 20%.
While some parts of the country have overvaluation rates at 7%, the IMF said there are also signs of cooling “especially in overheated markets”. The IMF report follows a recent Fitch Ratings study on the housing market that echoed the overvaluation rate.
The IMF added that “lower oil prices would be a headwind against financial growth in Canada” and that it expects the market crash to be in the form of a “soft landing” rather than a US-style housing bubble. 

Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate

More market watch: