Royal Bank

Royal Bank: Royal Bank TSX:RY says its housing affordability index reversed course in the second quarter of this year in two of the three categories it measures -- bungalows and two-storey homes -- after generally improving over the past year, according to CTV. The quarterly increase was not spectacular -- 0.3 points to 42.7 per cent on a detached bungalow and 0.4 points to 48.4 per cent on a standard two-storey home. The index on a condo was unchanged at 27.9 per cent and OTTAWA -- Home ownership has become less affordable for the average Canadian, but that hasn't stopped many from jumping into what may already be an overpriced market, suggests a new report from the Royal Bank. That means that on average, Canadians were paying more of the pre-tax income to service their homes compared to the first quarter of the year, although the index is still down from a year ago. (www.immigrantscanada.com). As reported in the news.