Time for your weekly cheat sheet on this week’s most important stories. Canadian Real Estate Canada’s Money Supply Prints Another Ominous Signal For The Housing Cycle The Canadian money supply is printing a warning sign. The growth rate of M2++, the broadest measure of Canadian money, fell to 5.1% – down 20.3% from last year. […]
Canadian real estate prices are in for some more bad news, if you think credit and prices are related. Bank of Canada (BoC) numbers show the M2++ was still falling quickly in September. The quick declines follow a long period of growth, indicating the end of the business cycle. The end of the business cycle […]
Relax, everything’s fine. Or maybe it’s not. The Bank of Canada (BoC) quietly made plans to buy government backed mortgage bonds, last week. The move is designed to increase the bank’s assets, and arguably assist the housing market. That sounds great, until you realize how these things work. It’s a similar set-up to the one […]
Greater Vancouver real estate is seeing softer demand for pre-sale units. Numbers from MLA Canada, a Vancouver-based real estate advisory firm, show more pre-sale units hit the market than expected in October. At the same time, same month absorption has continued a trend of declines. Greater Vancouver Pre-Sale Real Estate Sales Rise Over 31% The […]
Greater Toronto is seeing the fewest new real estate sales for October in over half a decade. Altus numbers, obtained from BILD, show sales made a huge nose dive in October. The sales decline resulted in higher inventory, and mixed price movements. Greater Toronto New Detached Prices Fall, While Condos Rise Greater Toronto is a […]
Montreal real estate is the hottest in Canada when it comes to price increases. Outpacing both Toronto and Montreal, there’s speculation it’s the next Canadian bubble. Turns out if you look at the long-term trend, this is pretty normal. During the Great Recession, Montreal real estate peaked after Toronto and Vancouver began tapering. Despite this, […]
Canadian seniors short on cash, but rich in property are drawing on home equity at an alarming rate. Bank filings with the Office of the Superintendent of Financial Institutions (OSFI) show September saw mid-double digit growth in reverse mortgage debt. The type of debt, which services seniors, is set to see continued growth well into […]
Time for your weekly cheat sheet on this week’s most important stories. Canadian Real Estate Canadian Borrowing Rates Are Up 32% From All-Time Lows Hit 2 Years Ago Canadians are seeing the cost of borrowing rise quickly. The typical household loan now has an effective borrowing rate of 3.96% as of last Friday, up 3.39% […]
Canadians still have access to cheap credit, but it’s disappearing fast. Bank of Canada (BoC) numbers show the cost of borrowing is rapidly increasing as of last week. Over the past two years, a typical household loan has seen servicing costs rise by nearly a third. Effective Borrowing Rates The effective borrowing rate is the […]
Canadian’s withdrawing home equity can’t stop, won’t stop. Office of the Superintendent of Financial Institutions (OSFI) filings show the balance of loans secured by residential real estate hit a new record high in September. Despite fast rising interest rates, borrowing for HELOCs haven’t slowed down one bit. Loans Secured By Real Estate Loans secured by […]
