Canadian real estate markets have come to a halt, and so has mortgage borrowing. Bank of Canada (BoC) data reveals residential mortgage credit growth slowed further in September. Higher rates have almost killed activity, with debt accumulating at the slowest rate in 20 years. Is it too slow or the expected response following unprecedented real […]
Canadian real estate markets continue to soften, with few signs of a break. Canadian Real Estate Association (CREA) data shows markets weakened further in October. The price of a typical home (composite benchmark) slipped further from peak, as sales failed to keep up with the sudden surge of sellers. Canadian Real Estate Prices Are Moving […]
Canadians looking for some mortgage relief might get some in the coming months. At least those looking for a fixed rate term. This morning, Government of Canada (GoC) 5 year bond yields fell sharply in response to soft American inflation data. Falling yields are part of a broad trend currently driving down mortgage costs. Though […]
Central banks around the world are finding that creating inflation is a lot easier than taming it. The International Monetary Fund (IMF) warns sticky inflation will lead to rates remaining higher for longer than previously thought. As a result, they believe bank regulators should begin work to ensure banks are more resilient ahead of potential […]
The American and Canadian economies usually move in lock step, and generally so does policy. That’s changing, as the US continues to show robust growth despite higher rates, while Canada’s economy won’t budge. As a result, many believe the Bank of Canada (BoC) may have to make what’s thought to be an unusual move—diverge from […]
Canadian credit is normalizing after an epic binge, and it’s presenting some red flags. Office of the Superintendent of Bankruptcy (OSB) data showed a downtick for Q3 insolvency filings. The drop was mostly seasonal, with the volume still trending towards pre-pandemic levels. That may sound like a return to normal, but there’s one big change—insolvency […]
Two years after fraud allegations first hit, a court is finally taking control of a brokerage’s assets. An Ontario judge has placed Wynn Realty Corp under receivership as of October 25th. Realtor Courtney “Lynn” Simpson and her broker/husband Kenneth Simpson are alleged to have defrauded dozens of clients. This isn’t the Realtor’s first rodeo either—she […]
Greater Toronto real estate is back to an ice cold market, after higher rates killed off speculation. Toronto Regional Real Estate Board (TRREB) data shows the composite benchmark (typical) home price made a sharp drop in October. Fewer sales were a major contributor, but the biggest factor is rising inventory. A lot more sellers are […]
Canada’s population might be booming but fewer entrepreneurs are seeing opportunity. Statistics Canada (Stat Can) data shows a sharp reduction in the number of business openings in July. The unusually large decline saw new businesses form at the slowest pace since the start of the pandemic. This is just the latest data point to show […]
Canada’s central bank made no changes to its key interest rate but the hikes may not be over. As the market expected, the Bank of Canada (BoC) made no changes to rates this morning. Eroding consumer spending and a slow economy were amongst the reasons cited. They did raise their inflation outlook though, indicating hikes […]
