Canada’s central bank sees the economy getting a big boost from falling rates. The latest Bank of Canada (BoC) forecast shows real gross domestic product (GDP) rising sharply next year. Falling rates are expected to drive a big jump in housing investment, boosting real GDP. Not surprising, most of the real estate industry also expects […]
Canadian households are celebrating cheaper credit after rates were further slashed. This morning the Bank of Canada (BoC) made its October rate announcement, slashing the overnight rate by 0.5 points in a single move. The “supersized” cut was widely expected by the market, but reinforces a troubling picture the central bank’s accompanying report confirmed. Canada’s […]
The Greater Canadian mortgage renewal cliff was largely overblown, according to the country’s largest bank. In its latest research note, RBC states that aggressive easing means that not all households will renew at higher rates, and the impact will be smaller than anticipated. They warn that doesn’t mean we’re in the clear, as a much […]
Canadians are more excited at the thought of cheap credit than actually getting it. Statistics Canada (Stat Can) data shows household credit grew in August—though at a slower rate than the month before. The mild acceleration in borrowing ahead of rate cuts reversed once the actual cuts were made. It potentially serves as a red […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Toronto & Vancouver Are Now The Weakest Real Estate Markets In Canada Toronto and Vancouver are traditionally Canada’s hottest real estate markets, leading the trend. If that still holds true, it might be a problem in the coming months. Experts believed the […]
Canadian real estate seems boring these days, but dramatic demand shifts are occurring. Canadian Real Estate Association (CREA) data shows the sales to new listings ratio (SNLR) fell in September. At the national level, the drop was only slight but the composition shift was very unexpected. Booming cities like Calgary are now seeing the demand […]
Canadian housing starts are starting to lose momentum but they remain lofty. Canada Mortgage and Housing Corporation (CMHC) data shows a drop in housing starts for September. Despite the slow month, BMO notes the trend is still moving higher, especially considering the environment. The slowdown is contrary to policymaker efforts to triple new home starts, […]
One of Canada’s largest provinces is looking to not just slow study permit growth, but reverse it. The Government of Quebec recently tabled legislation to seek greater control of the circumstances in which study permits are issued. This comes as a part of a larger strategy from the region’s policymakers to take on a more […]
Canadian real estate demand remains too weak to prevent further declines, but it’s improving. Canadian Real Estate Association (CREA) data shows the composite benchmark (typical) home fell in September. Over the past two years, prices have largely moved sideways as market uncertainty persists. However, price drops were smaller last month, implying the potential for a […]
Canadian inflation is being tamed rapidly, sparking fears that the economy will cool and require stimulus soon. Statistics Canada (Stat Can) data shows the Consumer Price Index (CPI) annual growth fell sharply in September. The slowdown was primarily the result of gasoline, with inflation showing little progress when excluded. However, experts still see this clearing […]
