Canada tried to solve its lack of skilled labor with immigration, but it’s having the opposite effect. A new report from the Institute for Canadian Citizenship (ICC), conducted by the Conference Board of Canada, reveals 1 in 5 immigrants that arrived from 1982 to 2019 have already left the country. Those most likely to leave […]
Canadian households sent another sign they’re getting comfortable borrowing—the return of home equity loans. Statistics Canada (Stat Can) data shows the balance of home equity line of credit (HELOC) accounts, continued to climb in September. The segment went through a lull as higher rates and stricter lending standards motivated deleveraging. However, with the return of […]
Canadian household debt is back, but a little different this time. Statistics Canada (Stat Can) data shows households owed more than $3 trillion in September, a new record high. Both mortgage and consumer credit growth accelerated, the latter at a faster pace. An unusual trend that indicates households are gobbling up credit, but less of […]
Canadian inflation is picking up, surprising the market despite warnings the slowdown was temporary. Statistics Canada (Stat Can) data shows the Consumer Price Index (CPI) accelerated sharply in October. Experts largely reiterated their expectations of a double-rate cut by next month. However, the data used by the central bank to justify the last double-cut has […]
Canada is bracing for a mass exodus of residents and some aren’t too keen on the plan. A few weeks ago, the Government of Canada (GoC) announced it would taper its population, primarily by reducing temporary resident visas. It’s a big problem for the 1.2 million temporary resident visas that expire next year—leading to a […]
Canadian real estate prices continued its downtrend last month, printing even larger losses. Canadian Real Estate Association (CREA) data shows the price of a benchmark (typical) home fell in October, despite a surge in sales. Prices continued to grind lower and are now similar to where they were 3 years ago. Surging home sales are […]
Highly indebted Canadian households are seeking a lot more creditor relief than usual. Office of the Superintendent of Bankruptcy (OSB) data shows insolvency filings made a big uptick in September. It was actually such a big uptick that it came in as the third-worst September in at least 40 years. It’s a general trend that’s […]
Canadians are getting used to spending more and getting less, even when it comes to building permits. Statistics Canada (Stat Can) data shows total building permits made monthly progress in September, nearing new highs in seasonally-adjusted nominal terms. Before getting too excited, this growth was almost exclusively driven by state stimulus which tends to have […]
Canadian politicians are moving at an alarming speed to reverse its immigration policies, this time targeting students. The Government of Canada (GoC) announced it would be discontinuing the Student Direct Stream (SDS) and Nigeria Student Express (NSE) application program on Friday. The program was designed to expedite study permit approvals in targeted markets, and became […]
The number two at Canada’s central bank just made it clear she isn’t a policy cheerleader, like the Governor has been in recent months. Bank of Canada (BoC) Deputy Governor Carolyn Rogers addressed finance professionals at the Economic Club of Canada last week, explaining the usual mortgage market risks. It got more interesting when she […]
