Canadian seniors are slowing down on the equity binge, but they’re still tapping quite a bit. Office of the Superintendent of Financial Institutions (OSFI) filings show reverse mortgage debt reached a new high in June. Canadian reverse mortgage debt is decelerating in growth, but is still one of the fastest growing segments of debt. Reverse […]
Canadian real estate owners are back to borrowing against their home equity. Office of the Superintendent of Financial Institutions (OSFI) filings show the balance of home equity lines of credit (HELOC) debt reached a new high in June. Growth is no longer near the peak seen a couple of years ago, but still much higher […]
Time for your weekly cheat sheet on this week’s most important stories. Canadian Real Estate Odd: Canadian Mortgage Credit Growth Is Rising, While Consumer Growth Falls Household credit growth is picking up from earlier this year, but still below last year’s levels. The balance of credit outstanding hit $2.22 trillion in July, up 3.6% from […]
Canadian households are pushing mortgage growth higher, but not other types of debt. Bank of Canada (BoC) data shows the rate of growth for mortgage debt hit a high for the year in July. Meanwhile consumer credit continued to the lowest rate of growth seen in years. An unusual match, since both segments don’t typically […]
Greater Vancouver real estate is improving, but it’s not even close to normal yet. Real Estate Board of Greater Vancouver (REBGV) numbers show a big climb in sales in August. The rise in sales was met with a jump in inventory though, offsetting most of the improvement. The region continued to see falling prices, with […]
Toronto real estate is ripping higher, into the time of year it typically slows down. Toronto Real Estate Board (TREB) data shows improvements for most numbers in August. Generally speaking, the market saw a surge of sales and drop in inventory, sending price growth to the highest level in over a year. Toronto Real Estate […]
Toronto and Vancouver real estate owners are flocking to home equity loans. Canada Mortgage and Housing Corporation (CMHC) numbers show debt payments increased in almost every segment in Q1 2019. The largest growth was in home equity lines of credit (HELOC). Obligated payments for HELOCs grew at almost 3x the rate of the second fastest […]
Canadians are taking out mortgage debt, but at an unusually slow pace these days. Bank of Canada (BoC) data shows outstanding mortgage credit reached a new high in July. Mortgage growth is improving compared to previous months. However, this past July was still the slowest rate of growth for the month in over two decades. […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Canada’s GDP Gets A Boost By Deepening Reliance On Real Estate Canada’s GDP got a big boost from real estate in the last quarter. Residential investment reached $136.9 billion in Q2 2019, up 1.35% from the previous quarter. This still represents […]
Canada’s dependence on real estate to grow the economy just got deeper… or made a death rattle. Statistics Canada (StatCan) numbers show residential investment showed quarterly growth in Q2 2019. The increase represents one of the few sectors of growth that boosted GDP in the most recent quarter. While residential investment rose on the quarter, […]
