Pessimism seeps into Canadian sentiment as property cools

Ottawa

CANADIANS became less confident this month about housing and prospects for the economy amid the troubles of a Toronto mortgage lender, according to telephone polling.

The Bloomberg Nanos Canadian Confidence Index fell to 58.5 in the week ending May 26. That's down from 59.4 at the end of April, the first monthly decline in four. The share of respondents who felt home prices would rise dropped to 45.5 per cent, from a record 50.1 per cent this month.