Canadian condo prices have been resisting a correction, but might be ready to give in soon. CREA data shows Canadian condo prices fell for a second consecutive month in June, wiping out most of the progress made this year. Condo prices have been relatively resilient despite rising interest rates, but historically weak demand and rising […]
The Canadian economy isn’t technically in a recession; it just feels like one to most households. That was the take from Canada’s largest bank, which is raising concerns about the country’s economic setup. RBC economists warn that rapid population growth is boosting GDP, but it’s only obfuscating reality. More meaningful economic indicators, such as household […]
Canadian inflation got a bump in last month’s report; new data shows it was just noise. Statistics Canada (Stat Can) data shows the Consumer Price Index (CPI) growth rate slipped in June. The headline inflation measure came in below analyst expectations, clearing the way for the Bank of Canada (BoC) to cut rates further this […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Real Estate Weakens As People Flee Toronto & Vancouver: BMO Canadian real estate markets remain weak after rate cuts but are driven by weakness in just a few regions. That was the take in the latest research note from BMO, which […]
Canadian real estate didn’t get a boost from a recent rate cut. That’s good news, according to BMO’s latest research note. The bank broke down CREA’s June update on existing home sales, and believes this is what the Bank of Canada (BoC) would like to see. Cheaper credit didn’t suddenly spark exuberant demand, potentially clearing […]
Canada’s sharp and unexpected rate hikes will continue to produce damage, even after rate cuts. A new staff research note from the Bank of Canada (BoC) shows the overnight rate is much higher than initially anticipated, reducing consumption for mortgage borrowers since the climb began in 2022. Rates are now being slashed and providing relief, […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Unemployment Adds 42k Workers, 1 In 5 “Long-Term” Unemployed Canada’s economy hasn’t lost many jobs, but it isn’t making many either. That’s a big problem when the country’s population is growing at one of the most rapid rates ever. Unemployment climbed […]
The Canadian job market isn’t exactly weakening. It’s just failing to keep up with the country’s breakneck population growth, according to June employment data from Statistics Canada (Stat Can). Jobs were largely unchanged, but the population of unemployed workers has exploded dramatically. Canada’s unemployment rate is now the highest in years, and even more alarming—nearly […]
Canadian households are more indebted than they think. A new report from Quebec-based Desjardins’ shows households recently accumulated a world class amount of debt. In fact, households borrowed so much that they’re now the third most indebted across the world. Even more surprising is the fact this debt is mostly held by just a small […]
Canadian inflation is demonstrating it can be a lot stickier than the central bank expected. Last week’s CPI report showed annual growth accelerated, reversing some of the Bank of Canada (BoC) progress on taming inflation. The move sharply lowered the odds of the BoC making another cut later this month, but there’s still a chance, […]
