Canadian taxpayers more than made up for household income lost during the pandemic. A new study from Statistic Canada (Stat Can) shows the change of employment earnings in Q2 2020. On average, every demographic lost income. However, due to generous pandemic supports, some households received more than 3x the income lost. About Today’s Data Today […]
Canada’s low mortgage arrears rate isn’t as easy to unpack as it usually is. The Canadian Bankers Association (CBA) mortgage arrears rate dropped in November. That’s generally a good thing, but there’s a little more to it this time. Mortgages in arrears are rising in Ontario and B.C., but the rate is low due to […]
Greater Toronto new home sales have picked up, from usually low levels in prior years. Altus Group and BILD GTA data shows new homes sales climbed in January. One unexpected blip in the data is the City of Toronto, which actually saw a sharp decline in sales. It appears flight from the City isn’t just […]
Canada’s government bond market is seeing yields surge, and it’s going to be felt in real estate. The Government of Canada‘s (GoC) 5-Year benchmark bond yield jumped yesterday. We know, we already covered rising yields just a few days ago. I promise this is kind of a big deal, and I’m not just harping on […]
Risk models from Canada’s largest bank shows a wider range of uncertainty for real estate. RBC’s latest models, shared with analysts this week, shows a general forecasted improvement. The downside hasn’t changed much, indicating a little more uncertainty. They also shared they are considering two new and “more severe” scenarios for energy and real estate. […]
Canada’s commercial rental market is split, and probably not how most would guess. Statistics Canada (Stat Can) data shows commercial rents are down in Q4 2020. A breakdown shows the decline is largely due to retail rents falling. Despite a broad adoption of work from home, office rents are still chugging to all-time highs. Retail […]
Canada’s central bank isn’t really that worried about real estate, it appears. Bank of Canada (BoC) governor Tiff Macklem held a Q&A after a speech for the Edmonton and Calgary Chambers of Commerce yesterday. During the Q&A, the governor dismissed concerns about an overheated housing market. In fact, he welcomed its contribution to the economy […]
Canada’s population growth may have slowed, but new home completions are still moving at a breakneck speed. Canada Mortgage and Housing Corporation (CMHC) data shows developers delivered over 50,000 new homes in Q4 2020. The number of new homes began outpacing population growth in the prior quarter. The ratio went parabolic in the latest numbers […]
Canada is searching for inflation, but the whole index gets a massive boost by removing mortgage interest. Statistics Canada (Stat Can) consumer price index (CPI) made a slow increase in January. However, if one were to exclude falling mortgage interest rates, inflation jumps by almost a third. Canada’s CPI Is 1% Higher Than Last Year […]
Canada might be in the middle of a pandemic with a shuttered economy, but it hasn’t slowed mortgage growth. Bank of Canada (BoC) data shows residential mortgage credit hit a new record high in December. The rate at which mortgage debt was the shocking part though. Mortgage debt is now growing at the fastest pace […]
