Canadians are getting cold on mortgage borrowing in 2018. Bank of Canada (BoC) numbers show the balance of outstanding mortgages hit a new high. Despite the high, don’t expect the same kind of growth we saw last year. The new high comes with a rapid taper on the growth rate, as higher interest rates and […]
Low interest rates driving Toronto’s condo market? Not exactly. Nearly a third of mortgages on new condos being occupied by the owner, are paying rates nearly double the average.
Canadian banks are reporting record low mortgages defaults. That’s often a misread sign of market health, but likely means we’re seeing real estate exuberance.
Canadian real estate sales are down across the country, especially in the Greater Toronto and Greater Vancouver area. That’s bad news for the Canadian economy.
Canadians are using their real estate to secure more debt at a new record pace, according to filings made with Canadian banking regulators.
Analysts from Teranet and the National Bank of Canada are noting unusual movements in the Canadian real estate market. Data shows the market has made two movements, not seen outside of a recession.
Canadian real estate experts assumed people would start getting mortgages at credit unions, to skip the stress test required at banks. Bank of Canada numbers show there really isn’t much more demand than usual.
Impaired mortgage dollar volumes are spiking at Canadian banks. Don’t worry, this likely has to do with the improved transparency that became mandatory in January.
Big declines in output from the Canadian real estate industry helped send Canada’s Gross Domestic Product (GDP) lower, according to Statistics Canada.
Canadians don’t just have a buttload of debt sitting on the sidelines, they’re paying a buttload for the privilege of borrowing it.
