The Bank of Canada (BoC) left its key overnight rate unchanged at 2.25% at this morning’s rate announcement. The move was expected, but the housing downgrade in the BoC’s April Monetary Policy Report (MPR) is the real story. Housing received the largest negative revision in the 2026 GDP breakdown, and is expected to weigh on […]
Canada is approving temporary residents at an unusually brisk rate—again. IRCC data shows approvals of non-permanent resident applications and extensions surged in February. Now at the third-highest volume on record, it confirms a softening stance on immigration. However, weaker applications reveal global demand for these visas is fading fast. Canadian Approvals of Temporary Resident Visas […]
Canada’s banks continue to see borrowers fall behind on their mortgage payments. Canadian Bankers Association (CBA) data shows the arrears rate rose in February, and now sits at double the pandemic lows. The volume of delinquencies has now reached its highest level in more than a decade. Canadian Delinquency Rate Reaches Double 2022 Lows Mortgage […]
Canadian real estate sales may be tepid at best, but their correction appears greatly overstated. The Canadian Real Estate Association (CREA) reported prices climbed 0.5% (+$3.1k) to $664,400 in March. Diving into their provincial Home Price Indexes (HPI) reveals that all but one province saw prices rise last month. Nova Scotia even posted a mind-boggling […]
Canadian businesses were bracing for elevated inflation—then the Iran War broke out. Now they’re doubting the Bank of Canada’s (BoC) ability to contain inflation, according to the Q1 2026 Business Outlook Survey. The central bank’s survey reveals firms are preparing for 5 years of elevated inflation. Canadian Businesses Expected Inflation To Surge Before Latest War […]
Canadian inflation readings are surging, a trend that’s just getting started. Statistics Canada’s (StatCan) Consumer Price Index (CPI) surged in March. The surge is largely attributed to energy prices, which had been dragging growth due to a base effect. A base effect that was set to expire in April, and set to compound with soaring […]
Policymakers broke Canada’s real estate market, and now it faces 7 years of bad luck. The Canadian Real Estate Association (CREA) slashed growth expectations for sales and prices, forecasting a 7th year of stagnating prices. They warn the first quarter was weaker than previously anticipated, as factors that drove growth before are over. Even with […]
Home prices typically fall to stimulate demand, but that’s not the case in Canada, apparently. Canadian Real Estate Association (CREA) data shows the price of a typical home climbed in March. Despite this upward tick, it was the weakest sales for the month since 2009. A real head scratcher, considering inventory remains historically robust. Canadian […]
Canadians saw their average wage surge at the fastest pace in months, according to Statistics Canada (StatCan). The surge reported in March stands in stark contrast with the reality of other datapoints, and for good reason—wages aren’t booming. The surge was due to a dramatic composition change, according to BMO Capital Markets, who warned investors […]
Canadian builder intentions are slipping even as policymakers throw tens of billions in stimulus at construction. Statistics Canada (StatCan) data shows building permit values fell sharply in February, with only residential intentions posting a modest gain that still translated into fewer homes planned. Meanwhile, non-residential permits fell abruptly, pointing to weaker investment appetite beyond the […]
