Canadian households are back to binge borrowing, and it is sending debt soaring. Bank of Canada (BoC) data shows mortgage debt at institutional lenders reached a new high in November. Not at all surprising, but the acceleration of annual growth is – which is now at the highest level in over a year. Although there’s […]
The Canadian real estate industry is seeing growth, just not everywhere last month. Statistics Canada (Stat Can) data shows the finance, insurance, real estate, rental and leasing (FIRE) industry made job gains in December. Canada as a whole squeezed out monthly gains, but two of the biggest markets weren’t so lucky – Ontario and British […]
Canadians invested less in building and improving real estate last year. Statistics Canada (Stat Can) data shows the value of residential building permits dropped in November. The declines are being seen across Canada, but Toronto and Vancouver are seeing larger declines. Canadian Residential Building Permit Value Down Over 1% YTD The value of residential building […]
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. […]
