Financial Post | Business

They can’t go lower, can they? And what if mortgage rates start to climb? Could that be the last straw for the housing market?

[np_storybar title=”Younger Canadians pessimistic about ability to own a home, poll shows” link=””]A large majority of Canadians in the so-called Y generation are worried that affordability will hamper their desire to own a home in their lifetime, according to an online survey conducted for real estate firm Royal LePage.

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It’s tough to make a pan-Canadian call on where real estate will land in 2013. The Prairie provinces seemed posed to avoid the downturn, but sales are starting to fall in many markets with a price dip happening already or predicted to be on the horizon.

All this is happening with five-year fixed closed mortgage rates below 3%, even at some of the big banks. The 10-year mortgage, still not popular…

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