Canadian banks are exercising a little more caution when it comes to mortgage debt. Bank of Canada (BoC) data shows allowance for credit losses on mortgages jumped in Q3 2019. The rise is slowing down from the previous quarter, but is still growing much faster than mortgage credit. Allowance for Credit Losses Allowance for credit […]
Toronto real estate prices had an explosive end to the year. Toronto Real Estate Board (TREB) numbers show prices made a big jump in December. The increase was due to an unusually tight market, that saw a big increase in sales and drop in inventory. Toronto Real Estate Prices Rise Over 7% The industry’s benchmark […]
The Canadian economy made an unexpected dip in the latest report. Statistics Canada (Stat Can) data shows gross domestic product (GDP) fell in October. The GDP decline is Canada’s first in 8 months, and follows tapering growth. Canada’s GDP Made The First Decline In 8 Months Canada’s GDP moved a little lower last month. Seasonally […]
Canadian insolvencies made a big jump, and they might be accelerating. Office of the Superintendent of Bankruptcy Canada (OSB) data show total insolvencies made a double digit climb in October. The increase in filings is much faster than the already strong growth seen over the past year. Canadian Insolvencies Rise Over 13% In October Total […]
Canadian homeowners are back to their borrowing binge, and paying more for it. Bank of Canada (BoC) data shows variable mortgage rates climbed into September. New variable rate mortgage borrowers are paying the highest average interest rate in at least half a decade. Variable Rate Mortgages Generally in Canada, a variable rate mortgage sees the […]
Canadian real estate buyers are unusually busy at a time of year when no one’s selling. Canadian Real Estate Association (CREA) data shows the sales to new listings ratio (SNLR) increased across the country in November. The biggest gains were seen in Eastern Canadian real estate markets, while formerly hot markets are starting to ease […]
Canadian businesses are borrowing less cash, and that could be a sign of things to come. Bank of Canada (BoC) numbers show business credit outstanding hit a new record in November. Despite the record high, growth continues to come in lower and lower. This is often a sign that businesses are seeing fewer growth opportunities. […]
Canadian new home prices are really split on which direction they should be heading. Statistics Canada‘s New Housing Price Index made a minor decline in November. On a national scale, it seems like the country’s markets aren’t doing a whole lot. The scale is being moderated by big markets like Montreal and Vancouver, heading in […]
Canadians are still real estate fanatics, but the peak was so high, today’s levels seem normal. Statistics Canada (Stat Can) data shows investment in residential structures increased in Q3. When compared as a percentage of GDP however, residential investment is down from the peak. Although it’s still way above usual. Residential Investment Residential investment (a.k.a. […]
Canadian real estate prices are moving the most in over a year – which doesn’t say much. Canadian Real Estate Association (CREA) data shows the price of a typical home increased in November. Most of the index gains were from markets east of Toronto, which are booming after a slow few years. The drag on […]
