Must be something in the water… or credit supply, since every Canadian market is becoming tight. Canadian Real Estate Association (CREA) data shows the sales to new listings ratio increased across the country in December. The rising ratios made for an unusual month – not a single major real estate market across Canada is a […]
Canadian real estate sales and development soared, and so have mortgage credit needs. New data from Statistics Canada (Stat Can) shows non-bank credit intermediaries (NBCI) have seen explosive growth. Over the past decade, NBCI dealing with mortgages have more than tripled their assets. Mortgages: NBCIs, MFCs, and MICs Today we’re looking at NBCIs, something not […]
Canadian real estate prices have resumed their climb, alongside rising inflation. The Teranet – National Bank of Canada House Price Index (TNB HPI) climbed in December. The modest increase is due to weakness in just a few regions. Eastern Canada, including Ontario and Quebec, are seeing prices climb very quickly. Western Canadian real estate prices […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Canadian Household Credit Slows, As Consumer Credit Growth Plunges Lower Canadian household debt is still rising, but experienced a bit of a hiccup in the latest numbers. The balance of outstanding household debt reached $2.26 trillion in November, up 3.9% from […]
Canadians are still borrowing a lot, just not for anything other than mortgages. Bank of Canada (BoC) data shows household debt held by institutions reached a new all-time high in November. All of the monthly increase was due to mortgages however, as consumer credit fell. Canadian Households Have Over $2.2 Trillion In Mortgage Debt Canadian […]
Vancouver’s population growth is still booming, but the rental vacancy rate is climbing. Canada Mortgage and Housing Corporation (CMHC) data shows primary rentals saw vacancies increase in 2019. The rate of vacancy is now at the highest level since 2013, but it has a long way to go to clear that number. Vancouver Rental Vacancies […]
Toronto’s population growth is booming, but so are rental vacancies. Canada Mortgage and Housing Corporation (CMHC) data shows primary rental vacancies climbed in 2019. The rate is now at the highest level since 2015, as vacancies climb from decade lows just a couple years ago. Toronto’s Vacancy Rate Rises To Highest Level Since 2015 Toronto’s […]
Canadian real estate buyers were out in full force last month. Canadian Real Estate Association (CREA) data shows sales made a substantial jump higher in December. Most of the increase is due to Vancouver real estate’s return to normal volumes. However, almost every major market across Canada is seeing sale volumes climb substantially. Canadian Real […]
Canada’s recent real estate price boom is creating a lot of incentive for development. Canada Mortgage and Housing Corporation (CMHC) data show housing under construction jumped in Q4 2019. The number of homes currently being built across Canada is now at the highest level since… uh, ever. Canada Has Never Build This Much Housing At […]
Canadian households are back to binge borrowing, and it is sending debt soaring. Bank of Canada (BoC) data shows mortgage debt at institutional lenders reached a new high in November. Not at all surprising, but the acceleration of annual growth is – which is now at the highest level in over a year. Although there’s […]
