Reuters: Financial Services and Real Estate: UPDATE 1-Canada housing agency sees rates on hold in 2012

Reuters: Financial Services and Real Estate Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

UPDATE 1-Canada housing agency sees rates on hold in 2012 May 8th 2012, 14:11 Tue May 8, 2012 10:11am EDT OTTAWA May 8 (Reuters) - Canada's federal housing agency predicted on Tuesday that the central bank will hold interest rates at 1.0 percent for the remainder of this year, and said it expected mortgage rates to also stay relatively flat in 2012. CMHC did not say how it arrived at this particular outlook on central bank monetary policy, which is more dovish than that of many market players. "The Bank of Canada has kept its target for the overnight interest rate at 1.0 percent since September 2010 and has indicated that it is likely to remain at 1.0 percent for 2012," Canada Mortgage and Housing Corp (CMHC) said in its 2011 annual report. CMHC said it sees balanced conditions in the housing market this year and that it would continue to monitor financial risk arising from high household debt levels.

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