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House Prices Falling In Majority Of Canadian Cities As New Rules Kick In

House prices fell in a majority of Canadian cities in January, the first month of tough new mortgage rules at the major banks, new data shows.

The latest edition of the Teranet-National Bank House Price Index shows prices falling in seven of the 11 cities covered.

Among them are Ottawa-Gatineau, Hamilton, Calgary and Edmonton. Halifax, Quebec City and Winnipeg saw particularly steep drops for a single month, with each city’s price index down at least one per cent.

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