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Global markets: CDN housing prices rise

By Commodity News Service Canada

WINNIPEG, March 9 – The following is a glance at the news moving markets globally.

– The New Housing Price Index (NHPI) edged up 0.1 per cent in January compared with the previous month. The increase was largely attributable to new housing prices in Ontario, Statistics Canada said in a report on Thursday.

Strong demand and lower mortgage rates kept the market supported.

– Crude oil futures dropped below C$50 a barrel on Thursday. The market was feeling pressure from high US inventories of the commodity, which have moved to record levels, while the country’s production has reached a 13-month-high.

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