The Canadian economy may be outperforming, but households are getting slaughtered. The latest data from the Office of the Superintendent of Bankruptcy (OSB) shows consumer insolvencies surged in March. The 12-month volume has reached levels only seen during the 2010 and 2020 peaks—both periods known for sharp declines in economic activity. While annual growth had […]
Despite soaring equity markets and resilient household spending, Canadian consumer confidence continues to erode. A new report from BMO Capital Markets explores the growing disconnect, suggesting consumer anxieties may not be rooted in actual economic weakness. However, if sentiment doesn’t improve it can slow the economy—triggering the concerns they fear. Canadian Households Feel Gloomy, But […]
Canada’s surging rents have more to do with financialization than fundamentals, according to a new University of Waterloo study. Researchers from the School of Planning conducted a deep dive into Toronto’s rental market and found the most aggressive rental hikes came from large financial landlords. By using techniques like vacant units, algorithmic pricing, and systematic […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Bank of Canada’s Commitment To Mandate Questionable If It Cuts Here: BMO The Bank of Canada’s (BoC) credibility is being questioned for the second time in recent years. While headline inflation plunged due to the carbon tax repeal, the BoC-preferred CPI-Core surged […]
Canadian inflation is officially “too high,” putting the Bank of Canada’s (BoC) credibility into jeopardy for the second time in five years. April inflation data breached the central bank’s upper tolerance band—just weeks after it dismissed accelerating price growth and cut rates, effectively adding inflationary stimulus. BMO had a blunt warning to investors this week: […]
The latest survey from Canada’s state-owned mortgage insurer reveals that the kids are not alright. CMHC data shows first-time purchasers increasingly depend on non-traditional funding such as non-mortgage debt, gifted down payments, and co-ownership with non-occupying residents. First-time buyers are showing more signs of being overextended despite increased leverage. Young adults are finding themselves in […]
Canadian households hoping for cheaper mortgages just got bad news. Hotter-than-expected inflation data has sent Government of Canada (GoC) bond yields soaring, wiping out any progress made in 2025. The move means higher fixed-rate mortgages are on the way, and they’ll climb further if yields continue to rise. Government Borrowing & Your Mortgage Rate Credit […]
Canadian inflation slowed last month, though most people are unlikely to have noticed much savings (if any). Statistics Canada (Stat Can) data shows the headline Consumer Price Index (CPI) slowed in April. It was a result of last month’s removal of the consumer carbon tax, leading to an abrupt but temporary decline. However, a look […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Household Debt Grew 2x Faster Than 2019, Driven By Mortgages Canadian households may have trade jitters, but that isn’t stopping them from borrowing. Household debt climbed 0.2% (+$6.2 billion) to reach $3.04 trillion in February—double 2019’s growth rate. Mortgage credit drove […]
Canada’s central bank has been slashing rates to get households to borrow, and mission accomplished. Statistics Canada (Stat Can) data shows household debt climbed aggressively in February. Growth may seem slow relative to the recent low rate frenzy, but debt is being racked up at twice the rate seen in 2019. Despite weak home sales, […]
