Canada has seen a surge in real estate buyers looking to get ahead of rising rates. After all, a higher cost of borrowing means higher payments, right? Running TransUnion mortgage payment data against mortgage rates shows the exact opposite. This is due to the basic design of interest rates, which are increasingly ignored due to […]
No, you didn’t accidentally eat the wrong brownie from the freezer. One of Canada’s biggest banks actually sent traders a Christmas poem about the Bank of Canada (BoC) governor’s management. It turns out it’s actually a tradition at the National Bank of Canada (NBC), who really should be teaching a Masterclass on throwing shade. They’ve […]
Canada’s central bank didn’t do much today, but they did give us a new Tiff-ism for Christmas. The Bank of Canada (BoC) made no changes in its rate announcement this morning, the last of the year. They also updated the public on their promise not to accumulate government bonds, calling the balance “roughly constant.” What […]
After decades of telling the public that low rates make housing affordable, Canada’s central bank is declaring, whoops! Bank of Canada (BoC) research shows decades of low rates did not make housing affordable. In fact, it had the opposite effect — increasing the size of mortgage debt. Real estate markets absorbed the increased debt capacity […]
If you’ve been laundering money through US real estate, you might encounter a few hurdles soon. Today the US Treasury’s Financial Crime Enforcement Network (FinCEN) gave notice of upcoming rule changes for home buying. They warn that real estate is vulnerable to money laundering by a wide range of criminals. Consequently, the regulator believes it […]
Most immigrants in Canada find themselves in just two major regions, and those regions also happen to pay them the worst. Statistics Canada (Stat Can) data shows the median annual income for immigrants in 2019 was much lower in major hubs. Immigrants that arrived 10 years ago are paid much lower in places like Southern […]
US real estate prices are looking frothy, according to central bank researchers. The US Federal Reserve (the Fed) recently updated its exuberance index for Q2 2021. The little-known index exists to identify housing bubbles early, to minimize damage. For the first time since 2007, that indicator is now warning that US real estate prices are […]
Canadian real estate has outgrown productive investment for a few years, but it’s never been this bad. National Bank of Canada (NBC) found that Canadians now invest more in homes than businesses. It’s the first time since the early 1960s that housing investment has grown larger than private investment. The “Big Six Bank” says this […]
Canadian cities rank as some of the largest real estate bubbles globally, but Canada doesn’t see it that way. The Bank of Canada (BoC) House Price Exuberance Index Indicator (HPEI) ranks just two cities as exuberant in Q3 2021. Neither of those cities is Toronto or Vancouver, despite both ranking amongst the biggest real estate […]
New Zealand’s government is targeting home investors to slow price growth and it may be working. Reserve Bank of New Zealand (RBNZ) data shows the share of home buyers that have at least one other home. Immediately after the Government announced they’ll target investors, many quit the market. It’s only been a few months since […]
