Unaffordable real estate? The Government has no idea what you’re talking about. The Bank of Canada (BoC) Housing Affordability Index (HAI) shows affordability improved since 2008. Despite the hard to believe reading, it provides an interesting warning. Affordability of real estate is deteriorating with minor rate hikes, compared to 2008. Housing Affordability Index The BoC’s […]
The government-backed agency in charge of oversee mortgage liqudity still thinks Canadian real estate is overvalued.
Residential real estate renovations in Canada are being fueled by an extraction of home equity, especially by older Canadians.
Peak Canadian real estate investment is behind us, according to another indicator. Statistics Canada (StatCan) numbers show residential investment as a percentage of gross domestic product (GDP) is moving lower. Taking a dive through unadjusted data, we can see this trend is primed to head much lower soon. What Is Residential Investment? Residential investment is […]
Canadian real estate owners made a record gain when prices soared, and they’re in a rush to spend it. Office of the Superintendent of Financial Institutions (OSFI) filings show the balance of loans secured by residential real estate hit a new high in May. The high was led by a surge in personal loans, such […]
Canadian real estate markets continued to cool across the country. Canadian Real Estate Association (CREA) numbers show the sales to new listing ratio dropped in every major market west of Ottawa. That’s right, only four markets saw improvements last month. Sales To New Listings (SNLR) The sales to new listings ratio (SNLR) is the indicator […]
Time for your weekly cheat sheet on this week’s most important stories. Canadian Real Estate Canada Is Considering A Risky Move To Fund More Mortgages With Foreign Capital Covered bonds are an increasingly popular method banks use to fund mortgages. Virtually non-existent in Canada before the Great Recession, they now fund 9% of mortgages at […]
Canadian real estate buying power is taking a real hit. Bank of Canada (BoC) April numbers show, new borrowers paid the highest mortgage rates in years. Fast rising rates mean people are shaving off serious amounts of borrowing room. Here’s Why You Care About This The higher the interest rate, the less credit is extended […]
Higher interest rates and policy measures are killing real estate sales across Canada, but BC is seeing the biggest drops.
Canadian real estate buyers were “ running out of land” last year, but now they’re running out of money. The Bank of Canada (BoC) and the Office of The Superintendent of Financial Institutions (OSFI) are currently reviewing the limits of covered bonds that can be issued. Banks have become increasingly dependent on these bonds for […]
