According to Statistic Canada (CMHC), the recent decline in new house building projects, increases in housing permits, low interest rates pushing up house prices, and the increased ratio of household debts may signify an imminent housing bubble. Jingle mail" is back - the phenomena of sending keys to bank as a way to walk out of mortgage. CMHC estimates the number of housing starts in Canada was 199,169 units in January 2016 , compared with 203,304 in December 2015 . Statistic Canada revealed an 19.9% rise ($ 6bn ) in housing permits issued in Canadian municipalities in December 2015 , following a 11.3% decline in November 2015 , induced by increases in multi-family building plans in Quebec , Alberta , British Columbia and Quebec . The Canadian Central Bank refuses to increase interest rates to control excessive household borrowing. Meanwhile, the “jingle mail” phenomenon returns, where Canadians send keys back to banks in order to exit mortgages.
According to Statistic Canada (CMHC), the recent decline in new house building projects, increases in housing permits, low interest rates pushing up house prices, and the increased ratio of household debts may signify an imminent housing bubble. CMHC estimates the number of housing starts in Canada was 199,169 units in January 2016 , compared with 203,304 in December 2015 . Statistic Canada revealed an 19.9% rise ($ 6bn ) in housing permits issued in Canadian municipalities in December 2015 , following a 11.3% decline in November 2015 , induced by increases in multi-family building plans in Quebec , Alberta , British Columbia and Quebec . The Canadian Central Bank refuses to increase interest rates to control excessive household borrowing. Meanwhile, the “jingle mail” phenomenon returns, where Canadians send keys back to banks in order to exit mortgages.