Chart 2
Housing market conditions and unemployment rates, Canada
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Source(s): The data for this chart are downloaded from Statistics Canada CANSIM tables 176-00431, 027-00111, 327-00051, 282-000211, and 384-0035. The bank rate is the rate of interest that the Bank of Canada charges on one-day loans to major financial institutions. Mortgage rates follow the bank rate closely. The real housing price index is based on Statistics Canada's new-housing price index, corrected for inflation by the Consumer Price Index (following Fauvel 2005). Vacancy rates are based on apartment structures of six units and over in census metropolitan areas, as complied by CMHC. The unemployment rate is based on the labour force aged 15 and over.
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