FXstreet.com (Barcelona) - The annual rate of starts of new houses has increased sharply in January from December as a consequence of low mortgage rates and high employment levels, according to the latest data released by the Canada Mortgage and Housing Corporation (CMHC).

The seasonally adjusted level starts of new houses have increased by 21.0% to an annual rate of 222,700 units, from 184,700 units in December.

By categories, urban starts have increased 25.2% to 189,500 units, urban multiples have increased 64.1 per cent to 108,000 units, while starts of urban singles decreased by 4.8% to 81,500 units.