Despite Canadian real estate spiraling out of control, the central bank held rates. The Bank of Canada (BoC) attributed the decision to fears of economic risk, but glossed over that fear being a housing slowdown. The BoC’s latest gross domestic product (GDP) forecast shows housing will provide a big drag in 2022. A year ago, […]
It’s only January, but Canada’s central bank has already given up on its New Year’s resolution. As forecast, the Bank of Canada (BoC) held its overnight rate in today’s announcement. However, it was an odd move considering how hot inflation has been running. The reason is actually pretty straightforward — the central bank is embracing […]
Canadians have never had so many monetary policy questions, especially homebuyers. Our crystal ball is in the shop, so we can’t tell you what interest rates will be. However, we can do the next best thing — present you with the Canadian Overnight Rate Sentiment Index. We polled the country’s top economics and finance experts […]
Canada’s economy has been making a solid recovery, and it turns out it’s even stronger than thought. National Bank of Canada (NBF) points to this morning’s employment revision. A routine revision from Statistics Canada (Stat Can) shows a sharp climb for employment. In the bank’s opinion, this further strengthens the reason for the Bank of […]
Canadian real estate is now some of the most expensive in the world. Home prices across the country, not in pricey hubs, are now comically overvalued. At this point, not even a major housing crash can restore affordability. Many think this is pandemic-related, but overvaluation has long been a concern. For at least a decade, […]
Canada’s central bank has been going Brrr, and it’s not because of the frigid winters in Ottawa. Bank of Canada (BoC) data shows that the money supply is still expanding rapidly in October. The M2++ money supply hit peak annual growth last year, reaching the highest level since the 1980s. The latest numbers show over […]
Canadian real estate is being scooped up by investors with excessively cheap credit. Ownership data for residential real estate across four regions show a significant share owned by investors in 2020. What’s most impressive is how fast this trend must have accelerated. Cities have seen up to 90% of recently completed homes go to investors, […]
America’s largest bank is making a bold call for Canada’s central bank — it will raise rates within days. JP Morgan (JPM) economist Silvana Dimino shared their forecast for Canadian interest rates. JPM sees the Bank of Canada (BoC) hiking the overnight rate five times in 2022, sending it 500% higher. Most surprising is how […]
The kings of Bay Street aren’t happy with Canada’s central bank, and they’re no longer holding back criticism. Four of the “Big Six” banks have recently urged the Bank of Canada (BoC) to raise the overnight rate. Another bank hasn’t urged action, yet. However, they’ve warned consumers of the risk of buying a home at […]
Last week we took a dive through non-resident ownership data across provinces. Today we’re going to break down similar Statistics Canada (Stat Can) for cities. We ranked cities by the highest rate of non-resident ownership for 2020. Almost every city in the Stat Can treasure trove had a significant non-resident ownership rate. Transfer data traditionally […]
