FXstreet.com (Barcelona) - Contrary to the market expectations, starts of new houses increased in February in Canada to an annual rate 15% higher than in January, according to data released by THE CMHC.

In February, the annual pace of housing starts rose to 256.900 K from 222.700 K in January, when market analysts had advanced a drop to a level around 210 K.

Urban starts increased by 18% compared to January, while urban multiples rose by 30.3%, and singles rose 1.8%.