Canadian real estate owners may be hiding financial vulnerability using complex debt products. Bank of Canada (BoC) staff published a new analytical note examining new home equity data. The new data gives more insights into home equity borrowing, and how the debt is drawn. Out are traditional HELOCs, held separately from the mortgage. In are […]
Canadian households are up to their neck in debt, and it’s showing in the country’s money supply. Bank of Canada (BoC) numbers show the M1+, a measure of the country’s “cash,” is seeing growth slow in February. All signs point to this number heading even lower, and taking economic growth with it as well. What’s […]
Fresh off an epic credit binge, households in Canada are starting to shy away from more debt. Bank of Canada (BOC) numbers show household debt levels barely moved in February. Not only did debt barely move from the month before, but the annual pace of growth fell to levels not seen since 1983. Canadian Households […]
Borrowing rates are sliding before the traditional busy season for Canadian real estate. Bank of Canada (BoC) numbers show the effective borrowing rate peaked in early March. Shortly after printing the highest number since the Great Recession, the rate dropped. The minor drop made headlines, but only really impacts people shopping in that window. The […]
Rising borrowing rates are putting a drag on the growth of Canadian household debt. Bank of Canada (BoC) numbers show household debt fell from an all-time high in January. The drop stalled the annual pace of growth at the same level one month before – at the lowest levels since 1983. Canadian Households Owe Over […]
Canadian households have abruptly cooled their appetite for credit. Bank of Canada (BoC) numbers show households reached a record level of debt in December 2018. Despite reaching new highs, Canadians are less keep on borrowing right now. It’s not just due to the decline in home sales either – consumers are starting to cool their […]
Falling Canadian real estate sales are still taking a bite out of mortgage growth. Bank of Canada (BoC) numbers show mortgage debt reached a record high in December. Despite the record, the annual pace of growth fell to a multi-year low. In fact, it’s only been lower for one month, over the past 30 years. […]
The growth rate of Canada’s money supply improved, but still points to a significantly slower economy. Bank of Canada (BoC) numbers show the M1+ growth rate improved in November. The slight improvement is dwarfed by the fact that the annual rate of growth is still a third lower than last year. The M1+ The BoC […]
Canadian households are showing signs they’re tapped out. Bank of Canada (BoC) numbers show the balance of outstanding credit reached a record high in November. The record is overshadowed by the continued deceleration of growth, however. Households borrowed at one of the slowest paces in decades, with big drops in consumer and mortgage growth. Canadians […]
Slow Canadian real estate sales are still dragging mortgage credit growth lower. Bank of Canada (BoC) numbers show outstanding mortgage credit reached a new record high in November. The high was accompanied by slowing growth, which is showing signs that it could slow further. Canadians Have Over $1.539 Trillion In Mortgage Debt The balance of […]
