Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Canadian Parliament’s Forecast Includes Unemployment Peaking In Q3 Canadian parliament’s economic forecasts include unemployment rising even further. The PBO economic forecast currently sees 14.8% unemployment in Q2, and the ratio peaking at 15% in Q3. At the end of last year […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Canada Loses Over A Million Jobs, And Participation Drops To 1983 Levels Canadian job losses are soaring, and a lot of people are permanently leaving the workforce. The unadjusted rate of unemployment came in at 8.4% in March, up 42.37% from […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate One In Ten Canadian Restaurants Have Permanently Closed AlreadyCanada’s restaurant industry is one of the hardest hit by COVID-19, and a lot of the damage is permanent. The industry estimates over 800,000 restaurant jobs were lost in March. They also estimate […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate A Panicked Bank Of Canada Just Cut Interest Rates Back To Record Lows The Bank of Canada (BoC) made another unscheduled rate cut last week. The central bank’s policy rate is now just 0.25%, down 150 bps form a month before. […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Canadian Interest Rates Are Falling, But Fear Is Driving Mortgage Rates Higher Canadian interest rates are dropping, but many mortgage rates are rising. For example, RBC increased its 5-year fixed for conventional mortgages from 2.94% to 3.34% on March 18. TD […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Canadian Reverse Mortgage Debt Tops $4 Billion For The First Time Ever Canadian reverse mortgage debt hit a new milestone. OSFI regulated banks held $4 billion in reverse mortgage debt in December, up 13% from last year. This is the first […]
Time for you cheat sheet on this week’s most important stories. Canadian Real Estate Canadian Insolvencies Rip Higher, With Ontario Seeing The Fastest Growth Canadian insolvency filings have been rising very fast. There were 11,337 filings made in January, up 8.7% from a year before. The total amount filed in the 12-months ending in the […]
Greater Toronto real estate is off to the strongest year since the 2017 boom. Toronto Regional Real Estate Board (TRREB) data shows much higher prices in February. The increase in prices were largely the result of many more sales, and fast falling inventory. Greater Toronto Real Estate Prices Rise Over 10% The benchmark price of […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Canadian Real Estate Grows Almost 5x GDP, Economy Hits Record High Dependency Canada’s FIRE industry is growing much faster than the general economy. GDP reached $1.98 trillion in Q4 at annual rates, up 1.6% from the previous quarter. Finance, insurance, and […]
Greater Toronto new home sales are back above typical volumes for the month. BILD and Altus Group data shows a big climb in sales this past January. The increase in sales helped to push condo apartment prices to a new all-time high. Meanwhile, single-family homes continue to spiral lower. House Prices Fall, While Condos Make […]
