Canadians are starting to feel the impact of their debt-driven spending spree. Statistics Canada (StatsCan) numbers show the debt service ratio reached a multi-month high. In Q2 2018, Canadians spent the most servicing debt since 2008. Mortgage debt was the big news though, as households spend the most since 1993 to stay afloat. Debt Service […]
Canadian real estate used to borrow more debt reached a new record higher. Office of the Superintendent Financial of Institutions (OSFI) filings show the balance of loans secured by homes reached a new high in July 2018. The vast majority of the balance is due to personal loans like HELOCs, which are actually seeing growth […]
Canadians are facing the fastest hike to borrowing costs since before the Great Recession, and it’s going to hurt real estate sales.
Canadian real estate prices are seeing slowing growth, but still printed a new record. The Teranet–National Bank House Price Index (Teranet HPI) shows a major slowdown in August. Canada’s largest markets saw the slowest price growth they’ve seen since 2009. What’s The Teranet HPI? The Teranet HPI is a price index created by National Bank […]
Canadians are racking up a whack of debt, especially for real estate. That appears to be coming to an end, and fast.
The Canadian real estate market is slowing down, and it’s hitting mortgages. Bank of Canada (BoC) numbers show mortgage credit grinded to a halt in July. The annual rate of mortgage growth fell to the lowest level in nearly 18 years, and is set up to go lower. Canadians Owe Over $1.52 Trillion In Mortgage […]
The Bank of Canada’s M1+ is seeing growth plummet, as households and businesses adjust to the central bank’s interest rate hikes.
Canadian real estate owners received a windfall of equity over the past decade. Rather than selling for a profit, many are turning to home equity lines of credit (HELOC) to reap the rewards. The popular form of debt allows owners to borrow equity in their home, and pay it back like a second mortgage. They’re […]
Canada saw less new buyers last year. Canada Mortgage and Housing Corporation (CMHC) numbers show mortgages to new owners saw a huge decline last year. Despite the huge decline, the average balance of these new mortgages inflated. New homebuyers are taking out less mortgages, but much larger ones – especially in the suburbs. New Owners […]
Another $2 billion worth of equity was withdrawn from Canadian real estate in June, sending the outstanding balance to a new record.