Canada’s population continues to grow at one of the fastest rates ever. It’s economy? Not so lucky. BMO Capital Markets warns the country’s economy resembles a recession, once population-adjusted. Growth is supposed to be easy with a population boom, but this one has become inflationary. That makes it complicated for the central bank, now balancing […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Mortgage Rates To Go Higher For Longer As Banks See Smaller Cuts Canadian mortgage borrowers may want to brace themselves for even higher interest costs. The Government of Canada (GoC) 5-year bond yield continues to climb rapidly, with this month representing […]
Canadians waiting for interest rates to fall might be a little disappointed. The Government of Canada (GoC) 5-year bond yield popped to a new multi-year high again. The yield is an important measure for the market, influencing the cost of similar length mortgages. They aren’t alone—almost all bond yields are rising under the same conditions, […]
Canadian real estate agents may be in for a significant change to their paycheque. Two years ago, a class action was launched alleging real estate sale commissions are price-fixed in Greater Toronto. This week, industry defendants had their attempts to dismiss the case come to an end. A federal judge just determined the class action […]
US real estate has been cooling as interest rates normalize, and new homes are no exception. US Census data shows new home sales fell once again in August, while inventory climbed. The segment is now firmly in a price correction, and experts see weak sales continuing in the near-future. US New Home Sales Fell, Weaker […]
Canada’s potential first-time homebuyers are increasingly giving up on homeownership. Mortgage Pros Canada (Mortgage Pros) conducted its semi-annual State of The Housing Market survey, and among the key insights was the decline in home-buying aspirations. Nearly half of renters no longer believe buying a home is possible, with a large share of young adults considering […]
Canada’s soaring inflation and expensive real estate are weighing on its small businesses. Statistics Canada (Stat Can) data shows a sharp drop in active businesses in June. A combination of more closures and fewer openings has wiped over a year of progress. There have been many warnings that this problem is brewing, and it’s expected […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Mortgage Rates Set To Rise As Yields Go “Higher For Longer”: BMO Global bond yields are rising, and they’re about to take Canadian mortgage rates with them. The Government of Canada (GoC) 5-year bond hit a multi-year high, and other yields […]
Canadians have seen mortgage interest costs climb sharply, and they’re going to need to get used to it. The Government of Canada (GoC) 5-year bond yield opened at a multi-year high on Friday, hitting levels last seen in 2007. It’s not the only bond yield popping higher, and that means mortgage borrowers should brace for […]
Canada’s tight labor market is getting more questionable with each data release. Statistics Canada (Stat Can) data reveals employment insurance (a.k.a. unemployment) claims jumped in July. Excluding the pandemic, the country hasn’t seen this many claims since 2008. The surge occurred alongside a major uptick in claim disqualifications. Canada Has Seen A Major Uptick In […]
