Canadians Withdraw Another $2 Billion In Home Equity Over A Month
Another $2 billion worth of equity was withdrawn from Canadian real estate in June, sending the outstanding balance to a new record.
Another $2 billion worth of equity was withdrawn from Canadian real estate in June, sending the outstanding balance to a new record.
Montreal and Ottawa real estate markets are heating up, while Toronto and Vancouver’s real estate markets continue to cool.
Canadian real estate price spiked in 2017, and a lot of homeowners have already spent that equity. Canada Housing and Mortgage Corporation (CMHC) numbers show a huge number of people are taking out multiple mortgages on their homes. The trend now represents over 1 in 10 mortgages issued in the country, and nearly half are […]
Canadian real estate sales continue fall to new lows. Canadian Real Estate Association (CREA) numbers show only 3 markets with more than 500 sales had year over year growth. Those that did see growth, only saw mild growth compared to previous years. The exception is Toronto, but that isn’t what it appears to be either. […]
Canadian real estate prices have never been more expensive, but the rapid deceleration of gains to 2009 levels means that might change soon.
Canadian real estate buyers are facing the highest cost of borrowing since 2011, and that’s going to cool credit demand even further.
Canada’s national housing agency crunched the numbers on the average debt payments, and they’re soaring in Toronto, Vancouver, and Montreal.
One of Canada’s broad measure of money showed a mild improvement. Bank of Canada (BoC) numbers show the M1+, the most liquid form of cash, saw a mild uptick in growth for June. The increase is a positive, and could mean Canadians are taking the interest rate hike well. Though a single month uptick is far […]
Delinquencies on Toronto and Vancouver real estate have stalled, while they continue to decline in Montreal.
Household debt in Canada continued to see growth slow in June, according to new numbers from the Bank of Canada.