Canadian mortgage credit continues to slow as rising rates grind the market to a halt. Bank of Canada (BoC) data shows outstanding residential mortgage credit rose in November. However, it was one of the slowest months we’ve seen since 2020. Annual growth remains robust, but recent activity is bringing the trend lower. Canadian Mortgage Debt […]
Canada’s largest bank sees a bottom to sales, but thinks there’s more pain for home prices—at least near-term. That’s the take from RBC, that feels home prices are stabilizing but will fall further. Don’t expect a quick recovery either, with affordability challenges weighing down future sales. Canadian Real Estate Sales May Have Found A Floor […]
Despite Canada’s booming labor market, households see a bleak year ahead. Bank of Canada (BoC) conducted its quarterly Survey of Consumer Expectations for Q4 2022. The results show households expect inflation to continue ripping higher over the next year. At the same time, the outlook for their own wages have eroded. The combination has led […]
Canadian real estate prices are falling and fast—in fact, a drop of this size hasn’t been seen since in over a decade.
Expectations from Canada’s largest real estate bulls are crashing. The Canadian Real Estate Association (CREA), the organization that oversees Realtors, released its latest quarterly forecast for home prices in 2023. Most markets are now forecast to see home prices contract this year, but that’s not the biggest takeaway. Expectations from the industry rapidly collapsed as […]
Tony Stillo of Oxford Economics helps us understand Canada’s real estate market correction and the upcoming recession.
Canadian homebuyers might face stronger regulations around mortgage borrowing soon. Office of the Superintendent of Financial Institutions (OSFI), Canada’s bank regulator, is soliciting feedback on a series of new rules to reduce leverage and mitigate risk. Now that risk tools like the stress test have proved why they’re important, they’re seeking to address any gaps […]
Canada’s real estate market got a big boost from overleveraged borrowers, according to its bank regulator. OSFI data shows the share of mortgage borrowers that are overleveraged remains high. Overleveraged borrowers, those with a loan to income ratio of 450% or higher, have begun to taper with higher rates, but still represented 1 in 3 […]
Canada’s large cities are now entirely dependent on immigration as local residents continue to flee and seek greener pastures.
Greater Toronto residents are fleeing for other parts of the country at an alarming pace, indicating opportunity may be outside of the hub.
