Homeowners can expect to another half percentage point interest rate hike over the next year, says the chief economist with the Canadian Institute of Mortgage Brokers and Lenders. Will Dunning said that increase might take a little of the heat out of the real estate market, but he doubts it would be enough to cause prices to fall. New home sales are strong, prices are continuing to rise and the new housing starts are either growing slightly or remain flat in most parts of the country, he said. Speaking at a mortgage symposium in Halifax Monday, Mr. Dunning said fixed rates remain the most popular mortgage choice for homeowners, but the heavily promoted combination fixed rate/variable rate mortgages are gaining in acceptance as people looking at the uncertainty in the marketplace see them as a way of managing the risk. Drawing on the results of a survey he carried out in March, he said most people renewing their mortgages are happy with their situation, generally because their payments
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