Canadian homeowners are still turning to reverse mortgages in their golden years. Office of the Superintendent of Financial Institutions (OSFI) filings show the balance of reverse mortgage debt hit a new record high in February. Annual growth for reverse mortgage debt is slowing, but still on track to double every 3 years. What’s A Reverse […]
Canadian real estate demand is still slipping, by at least one industry indicator. Canadian Real Estate Association (CREA) numbers show the National SNLR decline in March. Western Canadian markets were the biggest losers, accounting for most of the declines. Sales To New Listings Ratio (SNLR) The sales to new listings ratio (SNLR) is one of […]
Time for your weekly cheat sheet on this week’s most important stories. Canadian Real Estate Canadians Used Over $298 Billion In Home Equity To Secure Loans Canadians are still using their homes as ATMs. Filings from regulated banks show over $298 billion in loans were secured by homes in February, up 5.4% from last year. […]
Canadians are back to using their homes as ATMs. Office of the Superintendent of Financial Institutions (OSFI) filings show the balance of loans secured by homes reached a new record high in February. Preliminary numbers show most of the growth is still from personal loans, such as HELOCs. Canadians Used Over $298 Billion In Home […]
Canadian real estate prices turned negative, but not all markets are suffering. Canadian Real Estate Association (CREA) numbers show the national price index declined for a second month in a row. Prior to last month, price declines weren’t seen since September 2009, almost a decade ago. Despite the national drop, underperforming markets are beginning to […]
Greater Vancouver condo sales are extending losses into the normally busy spring. Real Estate Board of Greater Vancouver (REBGV) numbers show prices continued to drop in March. The price decline came with the fewest March sales since 2009, and double last year’s inventory. Greater Vancouver Condo Prices Drop The Most Since 2009 The price of […]
Toronto real estate sales are still slowing, but buyers are still bidding up prices. Toronto Real Estate Board (TREB) numbers show condo apartment prices reached an all-time high in March. The record high for prices came with a six year low for sales, and a three year high for inventory. Toronto Condo Prices Reach A […]
Canadian real estate sales continue to slide even lower. Canadian Real Estate Association (CREA) numbers show sales dropped once again in March. The decline in home sales across the country marks an unusually long period of negative growth. Canadian Real Estate Sales Fall To 6 Year Low Canadian real estate sales slipped once again. CREA […]
Time for your weekly cheat sheet on this week’s most important stories. Canadian Real Estate Insured Mortgages On Canadian Real Estate Fall Almost 10% The balance of insured mortgages on Canadian real estate is falling. There were $456.35 billion of insured mortgages in January, down 9.37% from last year. The average cost of carrying these […]
Canadian real estate price growth is still slowing, according to land registry data. The Teranet–National Bank House Price Index (TNB HPI) show prices fell for the first time in March, outside of recession. The drop represents the sixth consecutive monthly decline for Canadian real estate markets. Teranet-National Bank House Price Index (TNB HPI) Regular readers […]
