Canadian housing sales will take a fall this year after reaching a record high in 2007 the Canadian Real Estate Association said Tuesday.

Lower Mainlanders are said to be savvy about property. Read on to see how your knowledge stacks up.

Canada’s primary securities dealers unanimously predicted on Thursday that the Bank of Canada will cut its key overnight rate in June, but after that most are calling for a pause in the easing cycle.

The Bank of Canada cut its benchmark lending rate to three per cent on Tuesday as the central bank moved to defend against a sharply slowing U.S. economy and its spillover into Canada.

The Canadian dollar closed lower versus the U.S. dollar on Thursday, handing back more than half Wednesday’s gains as weak inflation data solidified expectations of a 50-basis-point interest rate cut from the Bank of Canada next week.

Canadian housing sales dropped 7.1% in the first quarter on a seasonally adjusted basis, the Canadian Real Estate Association (CREA) reported on Thursday.

Taking on a second mortgage is not a step most homeowners take lightly. But with more people seeking second properties where they can escape the city, the financing of recreational properties is a market that has expanded in recent years.

Major building activity in Alberta and Ontario lifted investment in non-residential construction 1.6 per cent to $10.3 billion in the first three months of the year, Statistics Canada reported Monday.

Construction started in Canada on almost as many homes in March as the month prior, confounding predictions of a steeper decline.