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Renting a cheaper option than homeownership

The cost of owning a home today in Canada is not just greater than the cost of renting, it’s at an all time high, according to Michael Smith, an analyst at Macquarie Securities. He says a 75 to 100 basis point rise in interest rates would result in a 15 percent correction in the country’s housing market. CTV Two CTV News CTV News Channel BNN - Business News Network CP24