Canadian real estate sales are up, mortgage credit is growing, but home equity loans are slow? Office of the Superintendent of Financial Institutions (OSFI) filings show debt secured by homes reached a new high in August. The increase in debt is getting slower though, as the segment of credit growth tapers quickly. Loans Secured By […]
Canadian real estate markets are heading in opposite directions, as Ontario picks up. Canadian Real Estate Association (CREA) data shows national prices made a gain in September. The national index, making a smaller than inflation rise, was held down by British Columbia markets. Canadian Real Estate Prices Rising Less Than Inflation Canadian real estate prices […]
Canadian real estate sales are back, but it’s unclear if this is just delayed demand. Bank of Canada (BoC) data shows new mortgage lending made a big jump in July. The rise is less impressive, when compared with the unusually weak performance preceding. Two years ago, the mortgage industry warned policy changes would result in […]
The Greater Toronto detached real estate market is buzzing once again. Toronto Real Estate Board (TREB) numbers show sales made a big jump in September. Sales volumes aren’t back to boom time levels, but the increase was enough to raise prices. Most of the gains are in the 905, which is seeing much higher price […]
Canadian real estate prices are pushing to new highs – just not in Western Canada. The Teranet–National Bank of Canada House Price Index (TNB HPI) is showing prices increasing across the country in September. The growth was much slower than usual for this time of year though, weighed down by weak performance in Western Canada. […]
Canadian real estate prices are soaring, but only a few markets have detached from reality. The ones that have though, boy oh boy – have they ever detached. New numbers obtained from IMF staff, show the gap between prices and fundamentals. For the most part, Canadian real estate prices can be explained through access to […]
Despite rock bottom borrowing rates, some Canadian real estate buyers are paying more. Bank of Canada (BoC) numbers show variable rates on residential mortgages made a big jump. Even with borrowing rates generally falling, variable interest mortgages are at a six year high. Variable Rate Mortgages Variable rate mortgages are when the borrower sees the […]
Who needs government stimulus? Canadian real estate sales are on the rise, in almost every major market. Canadian Real Estate Association (CREA) numbers show real estate sales are back to pre-cooling measures, as of September. The big spike in sales may have you thinking of a recovery. However, CREA’s chief number cruncher expressed some concerns. […]
Canadian seniors extracting home equity is slowing, but still growing at a high pace. Office of the Superintendent of Financial Institutions (OSFI) filings show the balance of reverse mortgages hit a new high in July. The 12-month rate of growth remains unchanged from a month before. However, the month before was still a very large […]
Canada’s job market is improving, largely due to Canadians making their own jobs. Statistics Canada (Stat Can) numbers show the unemployment rate fell in September. The vast majority of the jobs gained were from self employment. Real estate is still growing slightly faster than general employment across Canada. BC is a notable exception, where the […]
