One of the “Big Three” credit agencies warned they expect a big jump for insolvencies. TransUnion gave the industry a look at recent macroeconomic and consumer credit activity this week. During the presentation, the firm’s analysts highlighted various deteriorating macro events. They warned lenders to expect a rising wave of defaults, as a “severe” risk […]
One of Canada’s largest banks sees turbulence for real estate markets, but doesn’t expect it this season. A CIBC research note released earlier this month sees real estate markets temporarily frozen. Once the economy begins movement again, and mortgage deferrals expire, they see things starting to change. Once this happens, the bank is forecasting lower […]
Canadian homeowners on insured mortgage deferrals are starting to feel the heat. The Canada Mortgage and Housing Corporation (CMHC) updated the federal government on the state of housing last week. During this update, they warned first-time homebuyers to be extra careful purchasing. To highlight this, they ran through a scenario on how a small downturn […]
Canadian real estate prices climbed according to another index, but it had a limited impact on sentiment. The Teranet – National Bank of Canada House Price Index (TNBC HPI) made a substantial climb in April. Despite the big increase for prices, the Big Six bank warned a rapidly changing macro environment could change the direction […]
Canadians are suddenly short on cash for their jumbo sized mortgages. Canada Mortgage and Housing Corporation (CMHC), the country’s national housing agency, estimates over a tenth of insured mortgages are now on payment deferrals. The agency also added they expect the ratio of deferrals to nearly double over the next few months. Quebec Has The […]
Canadian households are facing a problem they didn’t think was possible a few weeks ago – falling consumer prices. Statistics Canada (Stat Can) data shows the consumer price index (CPI) fell in April. The deflationary move is the first seen in Canada, in over a decade. A month isn’t a trend, but if it continues, […]
Canada’s national housing agency wants to remind people there’s a limit to what they can do. Evan Siddall, CEO of the Canada Mortgage and Housing Corporation (CMHC) updated Canada’s standing committee on finance. In the update, he explained how the CMHC is using tens of billions in capital to support real estate markets. Even so, […]
Just how much did Canada lean on household debt to grow the economy over the past few decades? A lot. Bank of Canada (BoC) crunched the numbers, and they show household debt accelerated faster than any other segment of debt. The distribution of debt makes Canadian households one of the most vulnerable of the advanced […]
Canadian real estate sales have dropped to the lowest level in a generation. Canadian Real Estate Association (CREA) data shows sales fell in April. Slower growth was expected going into this month, however not this slow. The volume for the month was the lowest since 1984 – when the population was a third smaller. Canadian […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Bank Of Canada: Mortgages In Arrears Expected To Triple, But It Could Be Worse The Bank of Canada expects mortgages in arrears will rise, but policy measures helped contain the surge. The BoC expected mortgages in arrears to rise 8x by […]
