Further strong increases in Toronto helped push up the prices of new homes in Canada by 0.3 percent in May, a month before the government announced it was tightening mortgage rules, according to Statistics Canada data released on Thursday. The Toronto-Oshawa area posted a 0.5 percent increase on a monthly basis and 5.5 percent on the year. The annual increase for all of Canada was 2.4 percent, slightly down from 2.5 percent the month before. Reuters
