Canadian Housing Starts Jump

The seasonal rate of Canadian housing starts jumped to 222,100 in November from 206,800 in October, according to the Canada Mortgage and Housing Corp."New residential construction activity displayed resilience in November, regaining most of the territory lost the previous month," said Bob Dugan, chief economist at CMHC. "Strong employment and income gains, coupled with low mortgage rates, continue to bolster consumer confidence and demand for homes." The corporation can be found on the Web at http://www.cmhc.ca.