CMHC reported on May housing starts last week.

Starts were trending at just over 184,000 which is up slightly from April. CMHC says that builders continue to manage their activity levels properly. Analysts feel that starts have settled below the 200,000 unit level which is sustainable.

Home prices in Canada rose 0.8% in May. RBC now predicts that The Bank of Canada will finally raise its key rate in the second quarter of 2015 – about a year from now.