The Daily Chase: Housing market cools, OECD slashes global growth forecast

The Canadian housing market is cooling down and declines in home prices are not over yet as rising borrowing costs weigh on interest-sensitive households.

CRUDE PRICES ON THE RISE

The price of West Texas Intermediate is trading above the US$120 a barrel mark. Investors continue to assess the outlook for the commodity as the summer driving season gets underway and demand from China improves following months of COVID lockdowns. Morgan Stanley and Goldman Sachs released bullish reports earlier this week calling for higher prices due to supply concerns.

OECD CUTS GLOBAL GROWTH OUTLOOK TO 3%