The Canadian real estate market is slowing down, and it’s hitting mortgages. Bank of Canada (BoC) numbers show mortgage credit grinded to a halt in July. The annual rate of mortgage growth fell to the lowest level in nearly 18 years, and is set up to go lower. Canadians Owe Over $1.52 Trillion In Mortgage […]
The Bank of Canada’s M1+ is seeing growth plummet, as households and businesses adjust to the central bank’s interest rate hikes.
Canadian real estate owners received a windfall of equity over the past decade. Rather than selling for a profit, many are turning to home equity lines of credit (HELOC) to reap the rewards. The popular form of debt allows owners to borrow equity in their home, and pay it back like a second mortgage. They’re […]
Greater Toronto new condo sales experienced a drop in July, helping to send inventory much higher… and the industry is expecting more.
Canada’s small cities seem to be catching FOMO. Canadian Real Estate Association (CREA) numbers show large cities are seeing price growth taper. Meanwhile, smaller real estate boards are seeing real estate price growth outpacing major cities. Yes, You Should Care About National Prices We know, you don’t care what’s happening in Ottawa – you live […]
No other North American city has more high-rise construction cranes, as the rush to develop Toronto real estate reaches a fevered pitch.
Vancouver rental prices made a massive drop in June, making Toronto the country’s most expensive rental market.
A few weeks ago, Bay Street’s top strategist invited me to breakfast, to talk kittens and rainbows. Kidding, we obviously talked about Canadian real estate. Most of the conversation was just a rehash of data we post here, but he did say something that stuck with me. Towards the end of breakfast he goes, “an […]
Canadians are about to get a more transparent real estate market… well, one market. The Supreme Court of Canada has dismissed the Toronto Real Estate Board (TREB) appeal to prevent members from releasing data. The dismissal ends a nearly seven year struggle to get the board to open up information. During this time, TREB argued […]
Canada saw less new buyers last year. Canada Mortgage and Housing Corporation (CMHC) numbers show mortgages to new owners saw a huge decline last year. Despite the huge decline, the average balance of these new mortgages inflated. New homebuyers are taking out less mortgages, but much larger ones – especially in the suburbs. New Owners […]
