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Home starts rebound

Last week CMHC Canadain Mortgage and Housing announced housing starts for January were up from 184,700 units in December 2007 to 227,700 units in January of 2008. A few things are contributing factors for this the low mortgage rates, solid employment and a high level of consumer confidence. The seasonally adjusted annual rate of urban starts increased in four of Canada's five regions in January.      

Housing Starts in Canada – All Areas*