Canada

Toronto home sales are still depressed as the market continues to adjust to tougher mortgage qualifications and rising interest rates, though prices show signs of stabilization.

Foreign inflows are distorting Canada's already constrained housing market and aren't the kind of investment the country needs, the chief executive officer of Royal Bank of Canada said.

Canadians are borrowing against their houses at the fastest pace in more than five years, as home equity lines of credit emerge as a preferred means of accessing funds.

The only thing that might be colder than Toronto in January is the city's housing market.

Toronto's housing market continues to cool as prices fell last month and the supply of homes for sale spiked ahead of new stress-test rules that went into effect this week.

The risk to Canada's financial system from tapped-out borrowers is merely shifting — this time to a market where there's no oversight from the country's national bank regulator and new stress-test rules don't apply.

Canada's largest housing market continues to see prices fall amid a widening pool of homes for sale, though there are signs the correction is beginning to lure in some new buyers.

Toronto-area land prices have gotten so high that developers are struggling to build new homes that people can afford.

Canada's banking regulator released final rules that will make it tougher for borrowers to take on uninsured mortgages, adding to a growing list of measures to rein in the nation's housing markets.

Toronto housing prices fell for a fourth month in September as sales remained sluggish, particularly in the detached-home segment that has borne the brunt of the correction in Canada's biggest city.