It’s only January, but Canada’s central bank has already given up on its New Year’s resolution. As forecast, the Bank of Canada (BoC) held its overnight rate in today’s announcement. However, it was an odd move considering how hot inflation has been running. The reason is actually pretty straightforward — the central bank is embracing […]
Canadians have never had so many monetary policy questions, especially homebuyers. Our crystal ball is in the shop, so we can’t tell you what interest rates will be. However, we can do the next best thing — present you with the Canadian Overnight Rate Sentiment Index. We polled the country’s top economics and finance experts […]
Canadian owners eased on home equity line of credit (HELOC) debt, but they’re warming up to using them again. Office of the Superintendent of Financial Institutions (OSFI) data shows an abrupt jump in HELOC debt for November. The credit segment had been shrinking for over a year, with only a few minor monthly bumps higher. […]
Canada’s economy has been making a solid recovery, and it turns out it’s even stronger than thought. National Bank of Canada (NBF) points to this morning’s employment revision. A routine revision from Statistics Canada (Stat Can) shows a sharp climb for employment. In the bank’s opinion, this further strengthens the reason for the Bank of […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canada’s Real Estate Bubble Is So Big Even The Mother Of All Crashes Can’t Fix It Canadian real estate prices have soared so high, not even a large crash can help. Heck, multiple crashes only bring prices to where concerns were first […]
Canadians have been on a savings spree like few other points in history, but it might not be what it seems. Statistics Canada (Stat Can) data shows household savings have been soaring. The country expects these savings to be unlocked and create an economic boom in the future. We broke down households by income fifths […]
Canadian real estate is now some of the most expensive in the world. Home prices across the country, not in pricey hubs, are now comically overvalued. At this point, not even a major housing crash can restore affordability. Many think this is pandemic-related, but overvaluation has long been a concern. For at least a decade, […]
Canada’s central bank is preparing to raise rates, and everyone is trying to guess what this means. The BC Real Estate Association (BCREA) is the latest to forecast the impact of a rising overnight rate. If the Bank of Canada (BoC) hikes as expected, BC home sales will see a modest decline. Home sales are […]
It might not seem like it, but Canadian real estate is in the middle of one of the most significant supply booms ever. Canada Mortgage and Housing Corporation (CMHC) data show 2021 housing starts made a big jump. More importantly, the surge of new home construction is beginning to reach the market. New home completions […]
Canadian real estate prices are likely to get a bit of a chill by the end of the year. BMO believes the surge in home prices at the end of 2021 was due to a low overnight rate, which failed to move with the bond market. As a result, rising fixed income mortgages showed little […]
