New housing construction is grinding to a halt across Canada. Canada Mortgage and Housing Corporation (CMHC) numbers show a sudden drop in new housing starts in September. The drop sent starts to the lowest levels in nearly two years, and here’s why that’s important for the economy. Here’s Why You Care About Housing Starts Housing […]
Canadian residential real estate mortgage credit is falling to levels we haven’t seen in years, even with easy access to leverage.
Not that you needed a report to tell you this, but Canadian real estate is now at record levels of unaffordability. The RBC Economics Affordability Index approached record highs in Q2 2018. The index, which tracks how expensive it is to buy a home, hasn’t been this high since the 1990 Canadian real estate bubble. […]
Canadian real estate owners are wasting no time burning though that new equity. Canada Mortgage and Housing Corporation (CMHC), using Equifax data, crunched the number HELOC borrowers across Canada. The agency found two-thirds of borrowers have used their HELOCs, and owe an average of nearly six-figures. Tapped Vs. Untapped HELOC Debt Home equity line of […]
Senior Canadian real estate owners are tapping equity at a breakneck speed. Office of the Superintendent of Financial Institutions (OSFI) filings show reverse mortgage debt posted double digit gains in July. Actually, they’ve been posting double digit gains for nearly 6 years. Within the past year however, those gains have doubled. Reverse Mortgages Reverse mortgage […]
Canadians are starting to feel the impact of their debt-driven spending spree. Statistics Canada (StatsCan) numbers show the debt service ratio reached a multi-month high. In Q2 2018, Canadians spent the most servicing debt since 2008. Mortgage debt was the big news though, as households spend the most since 1993 to stay afloat. Debt Service […]
Canadian real estate used to borrow more debt reached a new record higher. Office of the Superintendent Financial of Institutions (OSFI) filings show the balance of loans secured by homes reached a new high in July 2018. The vast majority of the balance is due to personal loans like HELOCs, which are actually seeing growth […]
Canadians are facing the fastest hike to borrowing costs since before the Great Recession, and it’s going to hurt real estate sales.
Canadian real estate prices are seeing slowing growth, but still printed a new record. The Teranet–National Bank House Price Index (Teranet HPI) shows a major slowdown in August. Canada’s largest markets saw the slowest price growth they’ve seen since 2009. What’s The Teranet HPI? The Teranet HPI is a price index created by National Bank […]
Canadians are racking up a whack of debt, especially for real estate. That appears to be coming to an end, and fast.
