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Housing market flashing encouraging signs Home Capital CEO says

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The chief executive of Home Capital Group Inc. says the housing market has been flashing some positive signals lately, especially in the Greater Toronto Area.

During a conference call to discuss their results for the quarter ended June 30, Home Capital CEO Yousry Bissada said Wednesday that the mortgage lender “saw some encouraging signs from the housing market.”

“Sales activity is picking up, with particular strength in the GTA,” Bissada told analysts. “The latest data on economic growth, employment and interest rate expectations are consistent with our outlook for a stable and balanced real estate market for the rest of 2019.”

The comments came after Toronto-based Home Capital reported a profit of $31.9 million for its second quarter, up from $29.6 million a year ago.

Continue to read on: Financial Post

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