| Fueled by record low interest rates – earlier this winter, major Canadian banks offered five-year, fixed-term mortgage loans for just under 3 percent (the average for a five-year term is 3.49 percent) – and an economy that was largely unaffected by the 2008 economic crisis, real estate prices in Canada have taken a steep turn upward.
Nationwide, they have nearly doubled in the last 10 years, to an average of about $373,000. In some large cities, such as Toronto and Vancouver, they are up more than 10 percent year over year..............................................Full Article: Source
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