The IMF released its recommendations, after doing a deep dive into Canada’s economy. One key point was to not give into political pressure around real estate. Urging Canada to think long term, they advised against looser regulations or stimulus. The organization didn’t provide numbers, so we pulled a couple of data sets. Long-term, the impact […]
Canadian real estate owners may be hiding financial vulnerability using complex debt products. Bank of Canada (BoC) staff published a new analytical note examining new home equity data. The new data gives more insights into home equity borrowing, and how the debt is drawn. Out are traditional HELOCs, held separately from the mortgage. In are […]
Canadian real estate prices made history last month, but not the record most were hoping for. The Teranet–National Bank House Price Index (TNB HPI) index failed to rise in April. The lack of increase is the first outside of recession, going into the usually busy spring season. Canadian Real Estate Prices Stall The First Time […]
Canadian housing starts ripped higher last month, but that’s only part of the story. Canada Mortgage and Housing Corporation (CMHC) numbers show a surge in new home construction starts in April. Despite April’s surge in activity, new home starts are significantly behind last year. Canadian Real Estate Starts Spike In April, But Still Lag Canadian […]
Canadian households are facing higher borrowing rates, but they’re coming down. Bank of Canada (BoC) numbers show the effective household borrowing rate was higher than last year, as of April 27. Over the past few weeks however, rates have been on a fast slide since peaking in March. Effective Household Borrowing Rate The effective household […]
Toronto and Vancouver condos are shrinking at an incredibly fast rate. Statistics Canada (Stat Can) crunched the size of condo apartments using assessment data. The data shows the median size of newer developments are fast shrinking – not all that surprising to most. It is surprising to see Toronto condo units shrinking much faster than […]
Near record low interest rates may still be too high for highly indebted Canadian households. Bank of Canada (BoC) numbers show the growth of the M1+ money supply fell to a multi-year low in March. The decline of this measure is typically indicative of slowing future economic activity. The M1+ The M1+ is a narrow […]
Canadian households hit a new all-time high for debt, but the level of growth is slowing. Bank of Canada (BoC) numbers show the balance of household debt reached a new high in March. Despite breaking a new record, Canada’s credit growth is at recession low levels of growth. This can present a major kink in […]
Canadian mortgage debt printed a record high, but is still growing much slower than usual. Bank of Canada (BoC) numbers show the balance of mortgage debt printed a record high in March. The record debt came with the slowest pace of growth for March since 1983. Canadian Mortgage Debt Now Over $1.55 Trillion The balance […]
Canadians still aren’t returning to the real estate market, and it’s hitting mortgages. Canadian Bankers Association (CBA) numbers show November had fewer mortgages than the year before. The decline represents the fourth month the market has seen negative prints. Prior to this, the number of mortgages hadn’t dropped on an annual basis in over 29 […]
