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;Resize=(620)) Canadian Real Estate Association has downgraded its housing market forecast following a jump in fixed mortgage rates and weaker than expected housing sales in the first three months of 2026. CREA had been forecasting higher sales, based on the idea that pent-up demand would emerge, especially from first-time buyers.
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Iran's missile attacks and its closing of the Strait of Hormuz have cost the oil-producing Gulf Arab states untold billions. In response, they are moving to arm themselves against a military threat that hasn't been erased, and construct workarounds to the Hormuz choke point.
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