Almost half of Toronto condo investors are committing to negative cash flow, according to a CIBC Economics study. One of the city’s most prominent mortgage brokers pointed out, this is a disaster in the making. If you can’t make the deal work at an all-time low for interest rates, when can you make it work? […]
Canadian real estate experts assumed people would start getting mortgages at credit unions, to skip the stress test required at banks. Bank of Canada numbers show there really isn’t much more demand than usual.
Toronto real estate is seeing detached prices climb for a second consecutive month. Toronto Real Estate Board (TREB) numbers show prices inched higher in March. Even with the climb, prices are lower than last year, as declining sales and rising inventory continue to release pricing pressure. Greater Toronto Detached Prices Are Down Over 6% Toronto’s […]
CIBC Economics crunched the numbers on Greater Toronto condo investors, and found that nearly half collect less rent than the required mortgage payments. Most are still making money.
FCAC, a branch of the Government of Canada, thinks the banks have insufficient controls to monitor, identify, and mitigate risk in retail banking – with a special note on mobile mortgage specialists.
Impaired mortgage dollar volumes are spiking at Canadian banks. Don’t worry, this likely has to do with the improved transparency that became mandatory in January.
Greater Toronto real estate saw more inventory, and less sales – sending prices to negative levels compared to a year ago. We haven’t seen that happen since 2009.
Mild rate hikes in Canada, mean big consumer debt problems. Insolvency filings are on the rise, and consumer proposals just printed their biggest January for growth in over 5 years.
Big declines in output from the Canadian real estate industry helped send Canada’s Gross Domestic Product (GDP) lower, according to Statistics Canada.
Canadians don’t just have a buttload of debt sitting on the sidelines, they’re paying a buttload for the privilege of borrowing it.
