Greater Halifax real estate may be running out of luck. Canadian Real Estate Association (CREA) data shows a six-year high for new listings in September. Sales also rose, but couldn’t prevent the second-largest monthly price drop on record. Halifax Home Prices Post Second-Largest Monthly Drop On Record The price of a typical home sold through […]
Oxford Economics expects Canadian home prices to fall further as rising mortgage rates, weak hiring, and stretched valuations weigh on demand.
Canadian borrowing is losing steam just as interest rate hikes come back into focus. Bank of Canada (BoC) data shows mortgage credit posted its smallest August increase since 2013, pushing annual growth to a pace rarely seen outside housing corrections. With nearly a third of new mortgages carrying variable rates, renewed tightening could further throttle […]
Greater Toronto Area (GTA) new home sales picked up in September, but the recovery remains shaky. BILD and Altus Group data shows sales rose 63.9% from last year, but they remain historically weak. The bigger story is prices—nearly a third of the single-family correction has occurred in the past 4 months. New condo prices have […]
Canadian real estate remains out of reach for young adults, but the show must go on. That’s the takeaway from a new housing report from National Bank of Canada. Slow home sales have led to a backlog of developer inventory, but billions in public bailouts are being used to support prices. National Bank urges policymakers […]
Is it a bird? A plane? No, it’s… the size of Canada’s debt servicing costs. The Parliamentary Budget Officer’s (PBO) latest Economic and Fiscal Outlook projects Ottawa will accumulate $333 billion in deficit spending over 5 years. However, the Government of Canada (GoC) will need to borrow nearly three-quarters of a trillion dollars. Debt servicing […]
The August Consumer Price Index (CPI) report breached the Bank of Canada (BoC) upper bound. Statistics Canada (StatCan) data shows CPI accelerated further in September. A regional breakdown reveals that only two provinces are below the national average. Headline growth is well above the BoC’s target rate, but some provinces have more than doubled that […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canada’s Housing Crash Rivals US In 2008, But The Pain Is Hidden: BMO The Canadian housing crash now rivals the US in 2008, with prices falling for nearly 5 years. However, unlike the US crash, Canada’s economy appears to have avoided most […]
Canadian real estate prices slid further, spending almost 5 years to wipe out just 13 months of gains. Canadian Real Estate Association (CREA) data shows home sales fell further in September. Falling demand and lofty inventory left the weakest September demand balance since 1994. Canadian Home Prices Have Spent Nearly 5 Years Wiping Out 13 […]
The cross-border flow of goods is slow, but Canada’s imports of American inflation are ramping up. Government of Canada (GoC) short-term bond yields have climbed sharply since February. Gas prices were behind the initial surge, but yields are still climbing after gas stalled. A new report from BMO Capital Markets attributes the continued rise to […]
