Canadian new home prices have largely resisted a correction, but they may be ready to give in. Statistics Canada’s (StatCan) New Housing Price Index (NHPI) shows an unusually sharp drop in October—the largest since 2009. But the bigger story is buried in the data: a rare shift in the relationship between land and house prices […]
Greater Toronto’s new home market took another hit as weak demand met falling-but-still-lofty prices. BILD GTA and Altus Group data show prices slipped in October—but not enough to draw buyers off the sidelines. Sales fell to a record low for the month, while inventory hovered near multi-year highs. The gap between what’s for sale and […]
Canadian retail sales are weaker but not as weak as anticipated. Statistics Canada (StatCan) retail sales fell in September, with the drop attributed to a single (but large) category. While retail sales are holding up stronger than the headline data suggests, the longer-term issue of stagnation remains. Canadian Retail Sales Flat Excluding Gas and Vehicles […]
Canadian consumer borrowing is suddenly accelerating, and home equity borrowing was no exception. Bank of Canada (BoC) data shows Home Equity Lines of Credit (HELOC) borrowing just saw the biggest September growth since 2009. The increase is part of a broader trend that’s pushed annual growth to the highest rate in nearly 13 years. What […]
Canada’s odd surge in housing starts disappeared as fast as it arrived. CMHC data shows starts plunged by nearly a fifth in October, led by weak condo demand. BMO Capital Markets told investors this was largely expected and unlikely to lift prices. Starts remain historically elevated, and a wave of record completions will hit the […]
Canadian households are borrowing as rates come down, but not in the way many anticipated. Statistics Canada (StatCan) data shows household debt made an unusually sharp climb in September. That growth wasn’t driven by mortgages—even though they make up the bulk of household credit. Even the mortgage growth that did occur likely reflects old commitments, […]
Canadian inflation may look cooler on paper, but you’re forgiven if you have a hard time seeing it in reality. Statistics Canada (StatCan) reported the headline Consumer Price Index (CPI) slowed in October, entirely due to falling gas prices. Excluding gas, inflation was unchanged—while core measures remained at the upper bound of the central bank’s […]
Canada’s housing rut continues as a wave of unprecedented seller activity hits the market. Canadian Real Estate Association (CREA) data shows the price of a typical home fell to a multi-year low in October. Despite lower interest rates and rising buyer incentives, sales fell short, reversing the progress made last year toward a recovery. Meanwhile, […]
Canadian consumer insolvencies are surging to levels not seen since the financial crisis, despite stronger employment. The Office of the Superintendent of Bankruptcy (OSB) just reported the highest September filings since 2009, countering any recent signs of improvement. If anything, the trend appears to be just getting started. Canadian Insolvencies Surge To Highest Level Since […]
Canada’s growth engine has long been small businesses, but the country is all in on large firms. BMO Capital Markets warns that while large firms make up only a small share of total employment, they’ve accounted for virtually all job gains in 2025. The bank cautions that this imbalance is amplifying downturn risks and could […]
