Canada’s central bank is adding another data point to show the extent of real estate investors. A Bank of Canada (BoC) staff report looked at the country’s mortgage market up to Q2 2021. They found over 1 in 5 recently issued mortgages in Canada went to investors. The data reveals a sharp increase, but even […]
One of Canada’s “Big Six” banks sees the country’s central bank playing catch up to keep pace with the US. National Bank of Canada (NBF) warned their financial market customers the “free-money party” is over. The Bank of Canada (BoC) used quantitative ease (QE), driving home sales and prices higher in 2020-2021. NBF sees the […]
Canadian households are seeing their net worth soar — at least on paper. Statistics Canada (Stat Can) data shows household net worth made a big leap in Q3 2021, mostly due to real estate. An average household is seeing wealth accumulate at one of the fastest rates in history, with Millennials leading the surge. There’s […]
Canadian real estate prices are soaring at the fastest pace ever, yet the national numbers downplay growth. Canadian Real Estate Association (CREA) data shows home prices continued to soar in December. Over just 31 days, a “typical” home added up to $40,000 in one market. Over the past year, prices have increased more than ten […]
Canadian owners eased on home equity line of credit (HELOC) debt, but they’re warming up to using them again. Office of the Superintendent of Financial Institutions (OSFI) data shows an abrupt jump in HELOC debt for November. The credit segment had been shrinking for over a year, with only a few minor monthly bumps higher. […]
Canadians have been on a savings spree like few other points in history, but it might not be what it seems. Statistics Canada (Stat Can) data shows household savings have been soaring. The country expects these savings to be unlocked and create an economic boom in the future. We broke down households by income fifths […]
Canada’s central bank is preparing to raise rates, and everyone is trying to guess what this means. The BC Real Estate Association (BCREA) is the latest to forecast the impact of a rising overnight rate. If the Bank of Canada (BoC) hikes as expected, BC home sales will see a modest decline. Home sales are […]
It might not seem like it, but Canadian real estate is in the middle of one of the most significant supply booms ever. Canada Mortgage and Housing Corporation (CMHC) data show 2021 housing starts made a big jump. More importantly, the surge of new home construction is beginning to reach the market. New home completions […]
Canadian real estate prices are likely to get a bit of a chill by the end of the year. BMO believes the surge in home prices at the end of 2021 was due to a low overnight rate, which failed to move with the bond market. As a result, rising fixed income mortgages showed little […]
Canadians are hoarding mortgage debt like it’s toilet paper and a pandemic just broke out. Bank of Canada (BoC) data shows seasonally adjusted mortgage credit hit a new high in November. That statement may not be as impactful as it used to be — it has printed a record high for more than 250 consecutive […]
