Canada’s economy is slowing down and unemployment is rising, but that isn’t slowing credit consumption. Statistics Canada (Stat Can) data shows household debt continued accelerating in October. A combination of lower rates and moral hazard has led to aggressive borrowing, with credit now rising at a faster pace than GDP. It’s a questionable setup when […]
Canada’s economy continues to outperform, and received further revisions of prior data. Statistics Canada (Stat Can) data shows real gross domestic product (GDP) showed surprising growth in October, coming in 3x expectations as real estate returned as a driver. September data has also been revised to show double the growth originally reported, indicating the economy […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Mortgage Borrowers Received “Over 8,000 Relief Measures”: FCAC Canadian mortgage borrowers have just discovered they weren’t richer than they thought, and now require significant assistance to handle their bills. The Financial Consumer Agency of Canada (FCAC), the country’s consumer watchdog, has […]
Who needs a pandemic when every day can be an “exceptional circumstance” for the market? A new report from the Financial Consumer Agency of Canada (FCAC), the country’s consumer watchdog, outlines the extraordinary mortgage relief measures it continues to deliver via the country’s banks. The agency delivered more than 8,000 mortgage relief measures over a […]
The Canadian and American economies often move together, but the loonie is the latest sign that won’t be the case this time. The Canadian dollar has been plunging against the US dollar, a.k.a. Greenback. That loonie’s erosion was amplified this month as the two central banks diverged on outlooks for their respective economies, with the […]
The pandemic kicked off a Great Migration for Canadians, who fled expensive provinces for affordable housing. That boom is ending for Atlantic Canada, but continues in Alberta according to a new analysis from BMO Capital Markets. They found the two biggest losers are BC and Ontario, where people continue to flee the sky-high cost of […]
Canadian inflation slowed further last month, but the details show why few people may have felt it. Statistics Canada (Stat Can) data shows progress for the headline measure of the Consumer Price Index (CPI), which decelerated in November. The agency reported a broad-based slowdown, though half of the major components were still growing significantly above […]
Canada’s labor market just got another round of bad news from the national statistics agency. Statistics Canada (Stat Can) data shows job vacancies fell sharply in Q3 2024, but not due to a hiring boom this time. Employers are hiring for fewer roles, and the outright size of the country’s labor market has begun to […]
The Canadian economy might not be doing great, but cheaper credit was enough for the real estate market. Canadian Real Estate Association (CREA) data shows the price of a composite benchmark, or typical, home was unchanged in November. No movement is good when it comes to higher prices, as rising sentiment helped to spark enough […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Mortgage Rates Start Climbing As Gov Bond Yields Surge Government of Canada (GoC) bond yields are making a steep climb, especially the 5-year term. Since fixed rate mortgage costs are directly influenced by this, expect mortgage rates to climb. The GoC […]
