Canadian mortgage credit fell to a level that might make policymakers uncomfortable. Bank of Canada (BoC) data reveals that outstanding mortgage credit climbed in June. However, it wasn’t enough to reverse the trend of decelerating growth. The last time the rate fell this low, mortgage liquidity injections were already in the works to stimulate borrowing. […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate The Global Era of Cheap Credit May Be Over, Home Prices To Adjust: BMO One of Canada’s largest banks sees the global era of cheap credit coming to an end. Post-Global Financial Crisis (GFC) the world was flooded with liquidity— pressuring real […]
The era of cheap debt might be over, and it can lead to a big shift for investors. That was the take from BMO Capital Markets, which took a dive into sell-off triggered by rising long-term yields. They found the rising yields aren’t due to rising inflation expectations, but rising real yields across the world. […]
Did your last walk through downtown Toronto feel quieter than usual? It’s not just your perception; fewer people are commuting to work in Toronto’s downtown offices. Strategic Regional Research Alliance (SRRA), a think-tank focused on Greater Toronto regional growth, recently released its July Occupancy Index. This Index, which tracks office occupancy relative to pre-2020 levels, […]
Canadian real estate prices surged higher as rates were cut, then plunged as rates climbed. According to a new BMO Capital Markets analysis, markets have retraced a significant portion of their losses despite higher interest rates. In fact, some real estate markets are even hitting new record highs alongside climbing interest rates. Tracking The Canadian […]
Canadian real estate prices may have just seen the end of a short-lived recovery. Canadian Real Estate Association (CREA) data shows home prices fell in July. It was a minor drop considering recent activity, but does end a five-month winning streak. Is this just a minor setback, or the correction picking up where it left […]
Official numbers won’t be out until tomorrow, but they’re expected to reveal market weakness. BMO Economics is calling a slowdown for July’s existing home sales and price data. Almost all of Canada’s major real estate markets have reported eroding market activity. This is expected to work its way into the national data, as higher rates […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canada’s New Housing Minister Has Already Demonstrated He’s Clueless Canada’s housing minister has only been in office for a few days, but he’s already stumbled. The minister promised what we’re calling “quantum affordability”—home prices will both fall and stay at the same […]
Canada’s new housing minister has only been in office for a few days, and already stumbled. In a Bloomberg Interview, Minister Sean Fraser pledged to make housing more affordable without lowering prices. He reiterated the housing-is-an-investment mindset, before dropping suggestions that would reinforce higher prices. Great news for investors. Not fantastic if you pay taxes, […]
Do you recall other peak economic cycles? Think back to 2007, 2000, 1989… or further back if you remember them. Those were nothing compared to the current economic prosperity. Aside from last year, no other July has ever reported a smaller share of unemployed Canadians. It’s an employee’s economy, where they call the shots, and […]
