Canada has a lot of housing in the works. CMHC numbers show construction of new houses in the county’s largest cities picked up in May. The increase puts the number of homes being built at an all-time record high. Canadian Real Estate Under Construction Has Never Been Higher Residential real estate under construction in Canada’s […]
One of Canada’s top credit bureaus warned of higher delinquencies in 2019, and here they are. Equifax numbers show consumer delinquencies are on the rise in Q1 2019. The move was expected by the firm, which stated in the previous quarter, that 2019 would see higher levels. The overall rates remain relatively low, however credit […]
The Canadian real estate slowdown is putting a drag on GDP numbers. Statistics Canada (StatCan) numbers show residential investment fell for a fifth consecutive quarter in Q1 2019. Historically, a decline in residential investment in countries with high levels of ownership are a recession flag. Residential Investment and Why You Care Residential investment (a.k.a. residential […]
Time for your weekly cheat sheet on this week’s top stories. Canadian Real Estate Canadian Mortgage Debt Hits A New Record, $1.56 Trillion Outstanding Canadian mortgage debt reached a new all-time high. There was over $1.56 trillion in mortgage debt outstanding in April, up 3.2% from last year. While there is some growth, it’s extremely […]
Canadians are getting comfortable with debt levels, as household credit growth made a slight acceleration. Bank of Canada (BoC) numbers show the balance of household debt printed a new record in April. The new record high came with minor acceleration of the annual pace of growth for both mortgage and consumer credit. Canadians Had $2.18 […]
Canadian bank regulators are getting ready for you to hit your breaking point. Office of the Superintendent of Financial Institutions (OSFI) announced it is raising the domestic stability buffers. The increase goes into effect this fall, just a few months after being hiked this past spring. An increase in the buffer provides further protection to […]
Greater Vancouver real estate didn’t experience that spring bounce people were expecting. Real Estate Board of Greater Vancouver (REBGV) numbers show prices are down in May. The decline in prices was largely due to a sharp decline in sales, and an increase in inventory. Vancouver Real Estate Prices Drop Over 8% The price of a […]
Greater Toronto real estate prices increased, but sales are the headline story. Toronto Real Estate Board (TREB) numbers show prices increased in May. Sales of Toronto real estate posted a huge double digit gain, soaring above last year’s numbers. Unfortunately, as noted by the board itself, these sales numbers still fall short of a typical […]
Canadian Boomers are back to tapping their home equity to make ends meet. Office of the Superintendent of Financial Institutions (OSFI) filings show reverse mortgage debt hit a new record high in March. The record balance is still slowing in growth, but made a monthly increase larger than last year. That’s impressive, considering how fast […]
Slower Canadian real estate sales are putting a drag on mortgage credit growth. Bank of Canada (BoC) numbers show outstanding mortgage credit reached a new record high in April. The new record came with stalled growth, but there were some signs a small bump could be on the way. Canadians Owe Over $1.56 Trillion In […]
