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Canadian home sales fell 14.5 per cent between December and January, marking the lowest sales level in three years as the housing market was hit last month by a double whammy of tighter mortgage rules and lending rate hikes.Data released by the Canadian Real Estate Association Thursday suggested that January activity was down in three-quarters of all local markets and virtually all major urban areas, especially in Ontario hot spot in the Greater Golden Horseshoe. The decline was less signi stanley canada ficant on an annual basis, with sales falling 2.4 per cent.Sales climbed to a record monthly high in December, according to CREA figures, ahead of the stress test that requires all potential buyers qualifying for a mortgage to show that they can manage interest rate increases. ARTICLE CONTINUES BELOW The decline in January sales provides clear evidence that the strength in activity late last year reflected a pull-forward of transactions, as rational homebuyers hurried to purchase before mortgage ru stanley mug les changed in 2018, said Gregory Klump, the association chief economist.The federal banking regulator intro stanley cups duced tougher rules for uninsured mortgages beginning Jan. 1 and require a stress test for borrowers with a more than 20 per cent down payment. They now have to prove that they can service mortgage at a qualifying rate of the greater of the contractual mortgage rate plus two percentage point or the five Ihns No winning ticket for Lotto 649 jackpot
The latest coronavirus news from Canada and around the world Thursday. This file will be updated throughout the day. Web links to longer stories if available.3:34 p.m. Another thre stanley cup e people have died due to COVID-19 in Nova Scotia, bringing the total death count in the province since the onset of the pandemic to 208 people, reports The Canadian Press.Health officials say two of the dea stanley cup spain ths involved men in their 70s in the eastern zone, according to CP. ARTICLE CONTINUES BELOW The third death involved a man in his 80s in the central zone.There are 46 people in hospital for the disease, including 12 in intensive care. ARTICLE CONTINUES BELOW Officials say 421 new infections were reported, bringing the estimated active case count in the province to 2,514.They also reported a new outbreak at a ward at Glace Bay Hospital in Cape Breton, where fewer than five patients have tested positive so far. ARTICLE CONTINUES BELOW 3:15 p.m. Ontario could lift masking mandates by the end of March if positive trends continue in the wake of Tuesdays reopening, even though the spreading BA.2 variant is 30 per cent more transmissible than Omicron, says O stanley cup ntarios chief medical officer of health, Dr. Kieran Moore, the Stars Rob Ferguson reports. ARTICLE CONTINUES BELOW Moore said he estimates there a