Canada’s Minor Interest Rate Hikes May Be Setting Up Major Economic Problems
The Bank of Canada’s M1+ is seeing growth plummet, as households and businesses adjust to the central bank’s interest rate hikes.
Canada’s HELOC Problem Is One of The Biggest Risks For Real Estate
Canadian real estate owners received a windfall of equity over the past decade. Rather than selling for a profit, many are turning to home equity lines of credit (HELOC) to reap the rewards. The popular form of debt allows owners to borrow equity in their home, and pay it back like a second mortgage. They’re […]
New Canadian Real Estate Buyers Decline, But Their Budgets Expand
Canada saw less new buyers last year. Canada Mortgage and Housing Corporation (CMHC) numbers show mortgages to new owners saw a huge decline last year. Despite the huge decline, the average balance of these new mortgages inflated. New homebuyers are taking out less mortgages, but much larger ones – especially in the suburbs. New Owners […]
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Another $2 billion worth of equity was withdrawn from Canadian real estate in June, sending the outstanding balance to a new record.
Montreal Heats Up, While Toronto and Vancouver Real Estate Continue To Cool
Montreal and Ottawa real estate markets are heating up, while Toronto and Vancouver’s real estate markets continue to cool.
Over 1 in 10 Mortgages Issued In Canada Are On An Already Mortgaged Home
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 […]
Toronto Real Estate Sales Lead Canada For Growth, BC Leads The Declines
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. […]
Teranet: Canadian Real Estate Prices Continue To Decelerate, Smallest Growth Since 2009
Canadian real estate prices have never been more expensive, but the rapid deceleration of gains to 2009 levels means that might change soon.
Canadian Households See Borrowing Costs Rise To Highest Levels Since 2011
Canadian real estate buyers are facing the highest cost of borrowing since 2011, and that’s going to cool credit demand even further.
The Average Mortgage and HELOC Payment Is Soaring In Toronto and Vancouver
Canada’s national housing agency crunched the numbers on the average debt payments, and they’re soaring in Toronto, Vancouver, and Montreal.
