Canadian real estate is quickly changing as inflation drives bond yields much higher. First National, one of Canada’s largest non-bank mortgage lenders, warned rates are surging. Neil Silverberg, a senior analyst with the lender, wrote to clients explaining how fast yields have increased and how this will impact ownership. More Canadians are expected to stay […]
Canadians are tapping that windfall of home equity and are ready to pay a lot of interest to do so. Filings with the bank regulator show home equity line of credit (HELOC) debt increased in March. It’s now growing at the fastest rate since 2013, after contracting over the past few years. The debt is […]
Canadian real estate faces several hurdles and those hurdles are about to rise. Bank of Canada (BoC) data shows outstanding mortgage credit climbed substantially in March. It was only the first month of rate hikes, but we’re already beginning to see activity relax. Growth is now off multi-year highs with rising rates and falling sales […]
Canadian business insolvencies are back after being quiet over the past few years. Data from the Office of the Superintendent of Bankruptcy Canada (OSB) shows business insolvencies jumped in Q1 2022. High inflation and withdrawal of support drove filings back to early 2020 levels. Experts see this as the beginning of a bigger trend, with […]
US real estate is slowing down and it’s taking new home building activity with it. US Census Bureau data shows housing starts fell in April, as did building permits. Activity remains elevated compared to before 2020, but high rates and inflation are cooling the market fast. It’s expected to cool even further in the coming […]
Canadian households are dealing with the highest inflation in a generation. Statistics Canada (Stats Can) released Consumer Price Index (CPI) data for April. The agency attributes recent acceleration to food and shelter, which sent growth to the highest level since the early 90s. Some might be calling a top for growth, but that’s not what […]
Canadian real estate is cooling quickly after higher rates derailed its record run. A new research note from BMO shows the national sales to new listings ratio (SNLR) fell in April. The indicator measures supply relative to demand and acts as a leading price indicator. Canadian real estate can expect prices to trial the country’s […]
The Canadian real estate boom is dead and experts see an inevitable correction. Canadian Real Estate Association (CREA) data shows home sales dropped in April. Higher mortgage rates and unsustainable prices have vaporized demand, as markets adjust. As big as the drop in demand was last month, economists think we’re just getting started. Canadian Real […]
Canadian real estate gave back some of its record gains for the first time in years. Canadian Real Estate Association (CREA) data shows the benchmark price of a home fell in April. A typical home saw prices fall only slightly and annual growth remains high. However, Canada hasn’t seen prices fall in two years, and […]
Canadian new home starts are still strong but have begun to slow down from highs. Canada Mortgage and Housing Corporation (CMHC) data shows housing starts climbed in April. The rise in starts is based on seasonally adjusted month-to-month data, though. The number of new homes remains historically high but annual growth is tapering. Canadian New […]
