Housing starts in Canada maintained a brisk pace in March. CMHC reports 14,517 starts for the month, for a seasonally adjusted annual rate of 215,600 units, up from 205,300 in February. Construction of apartments and condos remained strong. Single-detached starts were down marginally across the country.
The debt situation in Spain is drawing hard looks. There are deepening concerns the country is not going to be able to deliver on austerity measures and bring spending under control. Madrid must rely on regional governments to fall in line with spending cuts. The yield on the government’s benchmark, 10-year bond has hit its highest level in nearly 5 months.
The U.S. Fed’s latest “Beige Book” will be released at 2 pm, ET.
Tags: Commercial, Mortgages, Apartment, Multi-family, Financing, Lending, Canada, Vancouver, Calgary, Montreal, Toronto, Halifax, CMHC