Canada’s economy printed what traditionally would be another blowout job report. Statistics Canada (Stat Can) data shows the country added tens of thousands of jobs in September, and wage growth is ripping higher. However, virtually every economist we heard from this morning warned the data has to be viewed with a different lens. To summarize […]
Canadian real estate markets are preparing for another raid, said one of the country’s largest banks. BMO warns the early data for September markets generally shows loosening conditions. Markets like Toronto, which usually have scarce supply, are now flush with the most inventory since 2010. Markets are only expected to get more loose in the […]
Greater Toronto real estate prices are once again moving lower as investors pull back. Toronto Regional Real Estate Board (TRREB) data revealed prices moved lower in September. It marked the third consecutive month for falling home prices, nearly wiping out gains made after a central bank pause. Despite a new pause, home sales are falling […]
Canada’s fast-rising bond yields just hit hyperdrive and they’re now rising even faster. Government of Canada (GoC) bond yields surged across the board on Tuesday. The move will drive mortgage costs higher, especially 5 year fixed rates with the corresponding government bond hitting the highest rates since 2007. There’s just one issue—back then, the rate […]
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 […]
