Canada’s central bank declaration of a pause might just be wishful thinking. This week, BMO warned investors that stubborn American inflation has the market pricing in 3 more hikes from the Federal Reserve. Canadian inflation might be lower than in the US, but the Bank of Canada (BoC) diverging from the Federal Reserve might not […]
Canada’s real estate bubble isn’t just consuming the economy, it’s sucking up non-traditional opportunities. Statistics Canada (Stat Can) data shows the underground economy was booming in 2021. The cause of the sudden boom? Housing, which propelled the size of the informal and illicit economies almost as quickly as home prices climbed. What Is The Underground […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Real Estate Price Correction To Be One of The Largest In The World: Fitch Canadian real estate prices are seen further correcting due to eroding market conditions. Fitch Ratings’ latest analysis shows prices falling 15%, due in part to rising rates. […]
Things are about to get worse for Canadian real estate, according to a credit rating giant. Fitch Ratings dropped its latest analysis to clients on risk in the mortgage bond market. The agency’s analysis shows high flying global real estate prices are likely to correct, with Canada expected to experience one of the biggest booms […]
Canada is winning when it comes to attracting immigrants, but failing to use its windfall. That was the take from RBC examining the immigration boom that makes up nearly all growth. In an email to investors, they explain the immigrants are younger and better educated than Canada’s domestic workforce. However, they were more likely to […]
Canada’s rising bond yields are set to drive mortgage rates higher, as fears of a recession are put aside. The Government of Canada (GoC) 5-year bond yield hit a new multi-month high on Friday. Yields have suddenly reversed course, as economic data has been coming in much hotter than expected. Canada’s oldest bank sees this […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Mortgage Debt Is Chugging Along, Despite The Slowdown Canadian mortgage debt continues to grow, rising 7.1% ($137.8 billion) over the past year to hit a total of $2.08 trillion in December. Growth is slower from the peak, but still elevated from […]
Canada’s addiction to mortgage debt is strong, despite the housing slowdown. Statistics Canada (Stat Can) data shows the balance of outstanding mortgage credit hit a new record in December 2022. Mortgage credit growth has slowed to the lowest level in years, but remains unusually elevated compared to pre-2020. That remains a concern with a balance […]
Canada’s economy is just too darn strong, and it’s become a thorn in the central bank’s paw. That was the takeaway from Bank of Canada (BoC) Governor Tiff Macklem’s speech to the Standing Committee on Finance to discuss inflation this morning. Inflation is easing but remains more than three times its target. If meaningful progress […]
Canadian real estate is still moving lower, but it’s still a long way from correcting the recent boom. Canadian Real Estate Association (CREA) data shows the price of a benchmark, or typical, home fell once again in January. Home prices have now rolled back more than a year’s worth of gains. Canadian Real Estate Prices […]
