Canadian retail sales are weaker but not as weak as anticipated. Statistics Canada (StatCan) retail sales fell in September, with the drop attributed to a single (but large) category. While retail sales are holding up stronger than the headline data suggests, the longer-term issue of stagnation remains. Canadian Retail Sales Flat Excluding Gas and Vehicles […]
Canadian consumer borrowing is suddenly accelerating, and home equity borrowing was no exception. Bank of Canada (BoC) data shows Home Equity Lines of Credit (HELOC) borrowing just saw the biggest September growth since 2009. The increase is part of a broader trend that’s pushed annual growth to the highest rate in nearly 13 years. What […]
Canada’s odd surge in housing starts disappeared as fast as it arrived. CMHC data shows starts plunged by nearly a fifth in October, led by weak condo demand. BMO Capital Markets told investors this was largely expected and unlikely to lift prices. Starts remain historically elevated, and a wave of record completions will hit the […]
Canadian households are borrowing as rates come down, but not in the way many anticipated. Statistics Canada (StatCan) data shows household debt made an unusually sharp climb in September. That growth wasn’t driven by mortgages—even though they make up the bulk of household credit. Even the mortgage growth that did occur likely reflects old commitments, […]
Canadian inflation may look cooler on paper, but you’re forgiven if you have a hard time seeing it in reality. Statistics Canada (StatCan) reported the headline Consumer Price Index (CPI) slowed in October, entirely due to falling gas prices. Excluding gas, inflation was unchanged—while core measures remained at the upper bound of the central bank’s […]
Canada’s housing rut continues as a wave of unprecedented seller activity hits the market. Canadian Real Estate Association (CREA) data shows the price of a typical home fell to a multi-year low in October. Despite lower interest rates and rising buyer incentives, sales fell short, reversing the progress made last year toward a recovery. Meanwhile, […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Investor Mortgage Crackdown Set For 2026, Delayed 3 Years Canada’s financial watchdog is finally moving its banks up to global risk standards after three years of delays. OSFI has told lenders to prepare to adopt the Basel III minimum output floor […]
Canada’s bank regulator will finally move to curb investor mortgage risk—nearly 3 years behind schedule. The Office of the Superintendent of Financial Institutions (OSFI) will treat investor mortgages as riskier assets in 2026, reducing liquidity for mortgages on non-owner-occupied homes. Originally scheduled for 2023, the rule is part of Canada’s delayed adoption of global risk […]
Canadians and Americans may be more alike than they want to admit—especially when it comes to housing. A new report from BMO Capital Markets finds falling prices and cheaper credit have pushed housing affordability to a multi-year high. Still, the bank warns both markets remain near multi-generational lows and have a long way to go […]
Canadian consumer insolvencies are surging to levels not seen since the financial crisis, despite stronger employment. The Office of the Superintendent of Bankruptcy (OSB) just reported the highest September filings since 2009, countering any recent signs of improvement. If anything, the trend appears to be just getting started. Canadian Insolvencies Surge To Highest Level Since […]
