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 […]
Canada’s oldest bank joined the largest bank in making upward revisions to its rate forecast. BMO now sees the Bank of Canada (BoC) raising even faster than thought. Their economists see interest rates ending at slightly different levels next year. However, the near-term message was the same — expect much higher interest rates by this […]
Rain or shine, Canada’s largest bank sees much higher interest rates to combat destabilizing inflation. RBC hiked its forecast for interest rates today after the central bank increased its neutral rate forecast. By year-end, the bank sees the highest interest rates since the 2000s. Bank of Canada Raised Its Neutral Rate… Again The Bank of […]
Canada’s house rich but cash strapped Boomers are back to tapping their home equity. Regulatory filings with the Office of the Superintendent of Financial Institutions (OSFI) show reverse mortgage debt hit a new record in February. Over the past couple of years, the segment had seen a slowdown. However, growth is now suddenly back and […]
