Canadian interest rates are surging higher and setting up a hurdle for prices. So last week, when a former Bank of Canada (BoC) appeared on Bloomberg, his statement on prices being too high for current rates was clear. Most, including Bloomberg, paired this with the mortgage rate burden. Clearly, interest rates need to come down, […]
The Canadian real estate outlook is getting dimer, at least in the near term. TD Economics made a downgrade to its forecast for home sales and prices. Interest rates have climbed higher than anticipated, and the bank warns that will slow things down even further than thought. Canadian Bond Yields Are On A Tear, Which […]
Canadian mortgage rates are climbing and may be creating a little more stress for borrowers. Equifax data reveals mortgage delinquencies have climbed from record lows in Q2 2023. That may present some concerns, until some context is provided. Yes, the delinquency rate is climbing from lows, but the rates remain much lower than they were […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Economists Are Skeptical of Job Strength, Discouraged Workers Jump 44% Canada’s job market continues to grow but economists warn context is important. The country added 64k jobs in September, which would have been a blowup job report pre-2020. A recent population […]
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 […]
