Canadian housing market moves from moderate to high degree of vulnerability: CMHC

Canada Mortgage and Housing Corp. says the country's housing sector has moved from a moderate to high degree of vulnerability.

The federal housing agency attributed the escalation in vulnerability to price acceleration and overvaluations across the country.

CMHC says the high vulnerability is largely a reflection of intensified and persistent imbalances in several local housing markets across Ontario and eastern Canada.

CMHC says Toronto, Hamilton, Ottawa, Montreal, Moncton and Halifax all have high degrees of vulnerability.

Victoria, Edmonton and Calgary are rated as having a moderate degree of vulnerability.