Canadian households are in a rush to get more debt, but only for mortgages apparently. Bank of Canada (BoC) data shows household debt reached a new all-time high in December. In general, household credit growth is rising. However, the rise in growth is due entirely to mortgages, where the rate of growth is rising at […]
Canadian real estate buyers are back in full force, and pushing debt levels once again. Bank of Canada (BoC) data shows mortgage credit reached a new all-time high in December. The all-time high isn’t surprising anyone these days. However, the pace of growth is now at the highest level in almost two years – and […]
Canadians might be running out of reasons to borrow cash, as total credit growth dips. Bank of Canada (BoC) data shows combined credit growth of businesses and households reached a new high in November. Despite the large number, the rate of growth is falling to levels not seen since the great recession. Credit Growth Credit […]
Canadian real estate prices are moving higher, but not all markets are equal. Statistics Canada (Stat Can) updated the Residential property price index (RPPI), showing prices increased in six major markets. Breaking those numbers down, the biggest lift to the index is condo apartment resales. Meanwhile, new condo construction is seeing prices fall. Residential Property […]
Canada is seeing a rise in highly indebted, and over-leveraged mortgage borrowers again. Office of the Superintendent of Financial Institutions (OSFI) data shows a rise in relatively large loans, when compared to borrower income, in Q4 2019. The increase has been rising over the past two years, and now represents the largest segment in the […]
Canadian seniors slowed their reverse mortgage borrowing, but the rate was still high. Office of the Superintendent of Financial Institutions (OSFI) data shows the balance of reverse mortgage debt hit a new high in November. Reverse mortgage debt has seen growth explode over the past few years. Recently, things have begun to show some signs […]
Canadian real estate sales and development soared, and so have mortgage credit needs. New data from Statistics Canada (Stat Can) shows non-bank credit intermediaries (NBCI) have seen explosive growth. Over the past decade, NBCI dealing with mortgages have more than tripled their assets. Mortgages: NBCIs, MFCs, and MICs Today we’re looking at NBCIs, something not […]
Canadian real estate prices have resumed their climb, alongside rising inflation. The Teranet – National Bank of Canada House Price Index (TNB HPI) climbed in December. The modest increase is due to weakness in just a few regions. Eastern Canada, including Ontario and Quebec, are seeing prices climb very quickly. Western Canadian real estate prices […]
Canadians are still borrowing a lot, just not for anything other than mortgages. Bank of Canada (BoC) data shows household debt held by institutions reached a new all-time high in November. All of the monthly increase was due to mortgages however, as consumer credit fell. Canadian Households Have Over $2.2 Trillion In Mortgage Debt Canadian […]
Vancouver’s population growth is still booming, but the rental vacancy rate is climbing. Canada Mortgage and Housing Corporation (CMHC) data shows primary rentals saw vacancies increase in 2019. The rate of vacancy is now at the highest level since 2013, but it has a long way to go to clear that number. Vancouver Rental Vacancies […]
