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, […]
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 […]
Canada’s soaring inflation and expensive real estate are weighing on its small businesses. Statistics Canada (Stat Can) data shows a sharp drop in active businesses in June. A combination of more closures and fewer openings has wiped over a year of progress. There have been many warnings that this problem is brewing, and it’s expected […]
Canadians have seen mortgage interest costs climb sharply, and they’re going to need to get used to it. The Government of Canada (GoC) 5-year bond yield opened at a multi-year high on Friday, hitting levels last seen in 2007. It’s not the only bond yield popping higher, and that means mortgage borrowers should brace for […]
Canadian inflation is heading in the wrong direction as rising energy costs return. The Statistics Canada (Stat Can) Consumer Price Index (CPI) shows annual growth accelerated in August. It was the second month inflation accelerated, leading to the loss of the briefly-held title of “lowest inflation in the G7.” Economists expect inflation to continue rising […]
Canada might not have a problem growing its population, but it has a big problem building housing. CMHC data reveals that new housing starts fell in August, despite the population boom. Only two provinces, BC and Ontario, have seen growth over the past year. The declines are expected to continue, prices were driven out of […]
