Canadian real estate owners are turning to private lenders, which may not be great news. Canada Mortgage and Housing Corporation (CMHC) gave households an update on lender data from 2018. The overall rate of delinquency remains low. However, increasingly popular private lenders are seeing delinquency rates 8x higher than typical. Canadian Mortgage Lenders Canadian mortgage […]
Canadian borrowing rates are dropping from the multi-year high reached earlier this year. Bank of Canada (BoC) numbers show the effective household borrowing rate is falling as of July. The rate, while lower than peak, is still significantly above 2017 levels of cheap credit. Effective Household Borrowing Rate The effective household borrowing rate is the […]
After making a huge jump in May, Canadian real estate sales are slowing in growth again. Canadian Real Estate Association (CREA) numbers show an increase of less than a point in June. The increase was largely due to a jump in Southern Ontario, especially in Toronto. Lower Mainland was a drag on growth, with Vancouver’s […]
Canadian real estate owners are turning to non-bank lenders across the country. Statistics Canada (Stat Can) released the first results of its Survey of Non-Bank Mortgage Lenders. Unfortunately, since it’s the first survey, historical comparisons can’t be made. Though it does shine a light on a relatively opaque industry. The most interesting insight revealed is […]
Canadian household debt issues are surfacing in some of the country’s largest cities. Office of the Superintendent of Bankruptcy (OSB) filings show an uptick in a few urban markets in Q1 2019. The uptick was most notable in Toronto, Vancouver, and Calgary. In the opposite direction was Montreal, which is seeing insolvency filings drop to […]
Greater Vancouver’s detached real estate market slipped a little lower last month. Real Estate Board of Greater Vancouver (REBGV) numbers show prices dropped in June. Prices for the market dropped as inventory made a small decline, and sales had the worst June in almost 30 years. Greater Vancouver Detached Real Estate Prices Are Down Over […]
Greater Toronto’s detached real estate market is improving, but still far from recovered. Toronto Real Estate Board (TREB) numbers show year-over-year improvements in June. Numbers are better compared to last year, but the market has a long way to go to get back to normal. The biggest improvements are in the 905, which is seeing […]
Canada kicked off another multi-year record for housing starts last month. Canada Mortgage and Housing Corporation (CMHC) data shows a large increase for housing starts in June. The rise pushes new housing starts in large urban areas to the highest level in over a decade. Why Housing Starts Are Important New housing starts are a […]
Canada’s real estate sector is making a shift. Statistics Canada (Stat Can) data shows FIRE sector jobs made a small decline in June. The aggregate movement was small, but most of the gains are being made in smaller provinces. Larger provinces like Ontario and Quebec lost thousands of jobs in the sector last month. FIRE […]
Canadians are a little more cautious about borrowing these days. Bank of Canada (BoC) numbers show household debt reached a new all-time high in May. Even though the balance is at a record high, the rate of growth is rapidly cooling. Canadian household debt grew at the slowest rate for May since 1983. Canadian Household […]
