Canada has some of the most highly indebted households in the world, and they may be approaching their breaking point. Office of the Superintendent of Bankruptcy (OSB) data shows December was one of the busiest in years for consumer insolvencies. The year ended with the most filings since 2009, growing at a pace similar to […]
Canada’s largest mortgage lenders are in an unusually long-lasting rut. Canadian Bankers Association (CBA) data shows its members are seeing more mortgages fall into arrears in November. The arrears rate is now moving at one of the fastest paces ever recorded, rising from record lows to a 3-year high in a matter of months. At […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadians Have Only Fled The Country Faster 4 Times Since 1967 Canadian citizens are leaving in some of the highest volumes on record. Canadian emigrants, those leaving permanently, rose 3% from last year to 29,100 people in Q3 2024. The third quarter […]
Canada’s economy is booming… or not. Depends on whether you’re in economics or finance—or in academia or looking for a job. Statistics Canada (Stat Can) seasonally adjusted data shows the country added tens of thousands of jobs in January, pushing the unemployment rate lower. Unadjusted data tells a very different story, with the country adding […]
Canada’s national housing agency just published its latest piece of fan fiction. Canada Mortgage and Housing Corporation (CMHC) has released its 2025 Housing Outlook, the agency’s forecast of various risk scenarios. The agency’s worst case scenario includes American tariffs delivering a devastating economic blow. The agency somehow sees this producing higher home prices, an immigration […]
Greater Toronto real estate prices are back, and it appears it’s being driven entirely by exuberance. TRREB data shows that home sales fell in January, while inventory surged. The demand balance showed some of the weakest sales on record, traditionally applying downward pressure on prices. However, the optimism over mortgage rules changing gave a handful […]
Canadians are packing up for greener pastures, and that doesn’t mean Toronto to Calgary. Statistics Canada (Stat Can) data for Q3 2024 shows a sharp uptick for emigration, the process of residents leaving to settle permanently in another country. The third quarter is typically big, but this one was one of the largest in years. […]
Canada’s facing a trade war with its largest partner, and it may send interest rates plunging. BMO Capital Markets wrote to investors after the first round of tariffs were announced this weekend. The bank now expects rates to be slashed much more aggressively, trimming another point off the bottom for overnight rates. The plunge would […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canada Cleaning Up Money Laundering Hits GDP The Same As Tariffs Canada and the US have arguably one of the strongest relationships in the world. In addition to sharing the world’s largest undefended border, a whopping $3.5 billion in goods and services […]
Gravy & cheese curds. Tegan & Sara. Denim & denim…there’s only one iconic duo that trumps those to Canadains, and it’s the tightly integrated economies of Canada and the US. Like all bromances, this relationship is going through a bit of a rough patch, with the new American administration threatening to impose 25% tariffs on […]
