Canadian mortgage debt has been soaring, and it’s entirely due to uninsured borrowing. Bank of Canada (BoC) data shows mortgage debt was still rising in May, despite falling home sales. Drilling down into the numbers reveals it was entirely uninsured mortgage growth. The insured segment, with smaller down payments and often first-time buyers, is falling. […]
Many Canadian real estate buyers at the March 2022 that left a minimum down payment might be holding property worth less than they borrowed.
Higher Canadian mortgage rates will reduce disposable income, but the reduction is much smaller than the current rate of inflation.
BMO made a downward revision to its Canadian real estate forecast as the bank notes a surge in cancelled listings and failed closings.
Canadian variable rate mortgage costs are rising, but National Bank of Canada doesn’t see the “trigger rate” being hit.
Toronto real estate is suddenly so cold zero new single-family homes sold in June, but inventory has yet to bounce.
Canadian HELOC debt is starting to surge as homeowners tap their home equity at a time when credit is tightening and home prices are falling.
Most condo apartments built since 2016 have non-occupying ownership across Canadian real estate markets, according to 2020 property records.
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Real Estate Expected To See A “Historic Correction,” Biggest Drop Ever: RBC Canada’s largest bank feels we are in the middle of a “historic correction.” RBC said the housing downturn is much faster and deeper than expected. Consequently, they’re downgrading their […]
Higher interest rates are slowing mortgage borrowing but debt is still growing fast. Bank of Canada (BoC) data shows outstanding mortgage credit climbed in May 2022. Falling home sales are beginning to erode the pace of borrowing. Even with the minor slowdown, mortgage debt is likely to surpass the size of GDP soon. Canadian Mortgage […]
