Things are about to get worse for Canadian real estate, according to a credit rating giant. Fitch Ratings dropped its latest analysis to clients on risk in the mortgage bond market. The agency’s analysis shows high flying global real estate prices are likely to correct, with Canada expected to experience one of the biggest booms […]
Canada is winning when it comes to attracting immigrants, but failing to use its windfall. That was the take from RBC examining the immigration boom that makes up nearly all growth. In an email to investors, they explain the immigrants are younger and better educated than Canada’s domestic workforce. However, they were more likely to […]
Canada’s rising bond yields are set to drive mortgage rates higher, as fears of a recession are put aside. The Government of Canada (GoC) 5-year bond yield hit a new multi-month high on Friday. Yields have suddenly reversed course, as economic data has been coming in much hotter than expected. Canada’s oldest bank sees this […]
Canada’s addiction to mortgage debt is strong, despite the housing slowdown. Statistics Canada (Stat Can) data shows the balance of outstanding mortgage credit hit a new record in December 2022. Mortgage credit growth has slowed to the lowest level in years, but remains unusually elevated compared to pre-2020. That remains a concern with a balance […]
Canadian real estate is still moving lower, but it’s still a long way from correcting the recent boom. Canadian Real Estate Association (CREA) data shows the price of a benchmark, or typical, home fell once again in January. Home prices have now rolled back more than a year’s worth of gains. Canadian Real Estate Prices […]
A large share of Canadians feel like they’re just a few bucks away from financial destabilization. Statistics Canada (Stat Can) released the results from its Canadian Social Survey on Quality of Life and Cost of Living for Q3 2022. The cost of living crisis has made life unstable for nearly a third of households, with […]
Canadian employment data didn’t get the memo that higher rates are ruining the economy. Statistics Canada (Stat Can) released the January Labour Force Survey today. Employment is soaring, and showing few signs of slowing—Toronto and Vancouver being minor exceptions. The boom is likely to present concerns for the central bank, which had been expecting the […]
Canada’s economy is weak and interest rates will be falling soon to help out investments. That was the takeaway from the new Bank of Canada (BoC) Market Participant Survey (MPS). The survey asked representatives from banks, dealers, pensions, insurers, asset management, and research firms about their expectations for the economy in the near-term. The results […]
Canadian homeowners aren’t shy about cashing in on their windfall, especially seniors. Regulatory filings with OSFI, Canada’s bank regulator, show reverse mortgage debt surged in November. Despite rising interest rates, seniors haven’t slowed down on the rush to cash out some of their home equity windfall. In fact, reverse mortgage debt has recently surged in […]
Greater Toronto real estate agents have been dropping anecdotal evidence the market is firming. It might be true, according to the latest composite benchmark prices presented by the Toronto Regional Real Estate Board (TRREB). Home prices generally fell across the region, except in the most dense part—the actual City of Toronto. In the City, the […]
