Canada kicked off another multi-year record for housing starts last month. Canada Mortgage and Housing Corporation (CMHC) data shows a large increase for housing starts in June. The rise pushes new housing starts in large urban areas to the highest level in over a decade. Why Housing Starts Are Important New housing starts are a […]
Canada’s real estate sector is making a shift. Statistics Canada (Stat Can) data shows FIRE sector jobs made a small decline in June. The aggregate movement was small, but most of the gains are being made in smaller provinces. Larger provinces like Ontario and Quebec lost thousands of jobs in the sector last month. FIRE […]
Canadians are a little more cautious about borrowing these days. Bank of Canada (BoC) numbers show household debt reached a new all-time high in May. Even though the balance is at a record high, the rate of growth is rapidly cooling. Canadian household debt grew at the slowest rate for May since 1983. Canadian Household […]
Canadian mortgage growth is showing minor signs of life. Bank of Canada (BoC) numbers show outstanding mortgage credit reached a new record in May. The growth rate picked up from a month prior, but it was still the second slowest May in three decades. Canadians Owe Over $1.56 Trillion In Mortgage Debt Canadian mortgage debt […]
Canadians are falling behind on bills, and it gets worse as they assume more debt. Statistics Canada (Stat Can) released new data from their Survey of Financial Security this week. The data shows a significant number of households fell behind on their debt payments. The most interesting trend revealed is more debt relative to assets, […]
Canadians swimming in debt can rejoice – they’re getting the benefits of a cut without the rate cut. Bank of Canada (BoC) numbers show the effective household borrowing rate dropped to a multi-month low the week of June 14. The typical household is still paying more than last year, but rates are down 23 bps […]
Screw HELOCs. Canadian homeowners in their golden years have a new favorite way to use their home like an ATM. Office of the Superintendent of Financial Institutions (OSFI) filings show the balance of reverse mortgage debt jumped in April. Reverse mortgage debt is now at a new all-time high, and still posting above 20% growth. […]
Canadian real estate prices have been distorted by a massive overextension of credit. Just how bad has it become? The view is always tricky from inside the bubble, so let’s compare them to our neighbors down south. Comparing prices to the frothiest US cities, we can see how odd Canadian real estate has become. The […]
Canadian real estate owners reached a new debt milestone. Office of the Superintendent of Financial Institutions (OSFI) filings show the balance of loans secured by residential real estate reached a new high in April. The new high is the first-time in history the balance has passed the $300 billion mark. Loans Secured By Residential Real […]
Canadian real estate prices broke a seven month losing streak last month. Teranet–National Bank of Canada House Price Index (TNB HPI) numbers show prices made a monthly increase in May. The increase broke a very long losing streak . However, National Bank warned it wasn’t the good news it may appear to be. May is […]
