The Financial Post reports in its Friday edition the impact Canada's cooling housing market is having on loan growth will undoubtedly be an area of focus when the big banks start reporting second quarter earnings next week. The Post's Jonathan Ratner writes in the Trading Desk column that housing resale activity continues to struggle, but numbers for April demonstrate Canada's real estate market remains stable. Barclays analyst John Aiken says: "A slow down in the Canadian housing activity is a negative from the perspective of the Canadian banks' earnings, however, we do not believe that it will result in any material credit issues. ... That said, lower loan growth will likely have a significant impact on the earnings growth outlook for the banks that rely to a greater degree from domestic consumer lending." He notes, however, that resale prices remain resilient. Mr. Aiken notes Canadian Imperial Bank of Commerce continues to have the greatest sensitivity to domestic retail loan growth pressure, followed by Toronto-Dominion Bank and National Bank of Canada. Canaccord analyst Mario Mendonca also highlights signs of stabilization in Canadian housing prices, but expects they will moderate from current levels.