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Canada

Only One of Canada’s Big Six Banks Expects Real Estate Prices To Rise

March 9, 2023

Canada’s “Big Six” banks are now some of the country’s biggest real estate bears. Quarterly regulatory filings reveal their forecasts used for risk planning, and capital allocation. Despite seeing long-term value, just one Big Six has forecast home prices rising over the next year. Most don’t see a quick recovery either, with some expecting prices […]

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Canada

Bank of Canada Holds Rates, But It Will Still Drive Borrowing Costs Higher

March 8, 2023

Canada’s central bank didn’t break its pause, but signaled it will still drive borrowing costs higher. This morning, the Bank of Canada (BoC) announced the overnight rate will hold at 4.5%, surprising few. They did just announce a pause at the last meeting, so reversing course was unlikely. However, that doesn’t mean borrowing costs won’t […]

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Canada

Canadian Real Estate Correction Is Almost Over, But Bulls Will Be Disappointed: RBC

March 7, 2023

Canada’s largest bank believes the end of the real estate correction is within sight. That was the message in RBC’s latest housing brief, though that doesn’t mean price declines are over. The bank believes home prices are halfway to the bottom, and doesn’t anticipate a bounce until next year. However, they expect the market to […]

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Canada

Bank of Canada Is “Conditionally” Pausing Hikes, But What Does That Mean?

March 6, 2023

Canadians got a little relief after facing one of the most aggressive rate hikes in history. At the January meeting, the Bank of Canada (BoC) announced a “conditional pause” on further hikes. That leaves one big question that everyone is trying to figure out—what conditions could trigger further rate hikes?  Bank of Canada Is Worried […]

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Top Stories

This Week’s Top Stories: Canadian Real Estate Rules The Underground Economy, & Delinquencies Rise

March 5, 2023

Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canada’s Real Estate Bubble Is Even Consuming Its Underground Economy One unfortunate consequence of a real estate bubble is the concentration of capital. As people spend more money on real estate, they have less to spend in other industries. This causes human […]

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Canada | Toronto

Toronto Real Estate Prices Just Made The Biggest Jump Since Rates Began Climbing

March 3, 2023

There’s a Canadian real estate correction? Apparently no one told Toronto. TRREB data shows home prices didn’t just climb in February, but made a 5-digit jump. Prospective buyers with their buyer-feet ice cold in the snow, stood puzzling and puzzling—asking, how can it be so? It came without rate cuts. It came without speculators. it […]

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Canada

Canadian Real Estate Affordability Got Worse With Higher Rates, What Gives?

March 2, 2023

Canadian real estate prices are falling with higher mortgage rates, but has it made it easier to buy? Bank of Canada (BoC) data for December’s new uninsured mortgage loans shows the highest rates in well over a decade. Interest costs are rising faster than prices are falling, meaning worse affordability. The hiccup is due to […]

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Canada

Canadian Credit Delinquencies Are Rising For Everything But Mortgages

March 1, 2023

Canadians are beginning to show minor signs of financial stress, but it’s worth noting. Transunion data shows credit delinquencies for nearly all segments rose in Q4 2022. A big exception was mortgage loans, which remain near the all-time low. However, it’s worth noting that traditionally, mortgage delinquencies lag other credit segments. Consumers experiencing financial stress […]

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Canada

Bank of Canada May Be Forced To Hike Rates Despite Debt Loads: BMO

February 28, 2023

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 […]

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Canada

Canada’s Real Estate Bubble Is Even Consuming Its Underground Economy

February 27, 2023

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 […]

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