It’s not just Toronto or Vancouver real estate. Canadian home prices have risen so fast, they’re no longer affordable for Canadians in general. The Desjardins Affordability Index (DAI) shows housing became less affordable in Q3 2021. Falling incomes and rising home prices combined to create a national affordability crisis. The financial institution doesn’t see much […]
Canadian real estate is seen as bulletproof but more banks are warning that might not be the case. CIBC Capital Markets’ November forecast shows a steep climb to the overnight rate. They expect the Bank of Canada (BoC) to hike rates up to five times over the next two years. Separately, they warned there is […]
Canadian home sales are falling, and that’s turning into a drag for home building intentions. Statistics Canada (Stat Can) data shows September permit values made a monthly increase. Despite the bump, values are still generally trending lower. Soft housing demand has residential permit values currently in a correction. Canadian Building Construction Investment Is Trending Lower […]
Canadians might see much higher borrowing rates in the not-so-distant future. Scotiabank chief economist Jean-François Perrault has forecast up to 8 rate hikes within 2 years. He sees elevated inflation backing the Bank of Canada (BoC) into a corner on the issue. Inflation appears to be a lot less transitory than thought. If that’s the […]
Canada is in the middle of a real estate boom, but home builders are feeling less confident. The Canadian Home Builder Association (CHBA) released its Housing Market Index (HMI) for Q3 2021 this week. The index, which measures builder sentiment, pulled back in the last quarter. Higher construction costs and an updated stress test is […]
Canadian new home prices may have just seen the first sign of cooling in over a year. Statistic Canada (Stat Can) released the New House Price Index for September. The agency said fewer than half of cities saw new home prices advance last month — a drag on annual growth. Annual new home price growth […]
Canada’s central bank is increasingly feeling the pressure from inflation. Desjardins, the country’s largest cooperative financial group, accelerated its interest rate forecast. They see the Bank of Canada (BoC) hiking rates a quarter earlier than previously expected. Elevated inflation is what’s behind the change, and it’s going to push the cost of mortgages higher. The […]
Canadian real estate prices have been on an epic run, but they’re starting to lose a little steam. The Teranet–National Bank of Canada House Price Index (TNBC HPI) showed minor growth in September. The annual rate is still elevated, but it fell from the record high due to the month dragging. Last month’s gain was […]
The cost of living in Canada is now surprising even the experts, with price growth surging. Statistics Canada (Stat Can) data shows Consumer Price Index (CPI) annual growth surged higher in September. The measure of inflation has been running hot recently, but now it’s hit the highest level in 18 years. One of the country’s […]
Canadians aren’t just borrowing a lot of mortgage debt, they’re doing it at one of the fastest rates ever. Bank of Canada (BoC) data shows outstanding mortgage credit hit a new record in August. It wasn’t just the balance, which is now larger than the gross domestic product (GDP) of most countries. The rate at […]
