Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canada’s Bank Regulator Just Told Banks To Put Away More Cash For A Risk Event Canada’s banking watchdog is asking the country’s Big Six to put away a little more cash for a rainy day. This week OSFI increased the domestic stability […]
Canada’s bank regulator is quietly asking the country’s largest banks to put aside a lot more rainy day cash. OSFI, Canada’s bank regulator, increased the domestic stability buffer (DSB) on Thursday. The move would see its Big Six financial institutions set aside significantly more capital for a risk-related event. The move will lower the need […]
Canada’s mortgage stress tests seemed excessive last year, but they were insufficient. The recent Bank of Canada (BoC) rate hike pushed a number of variable rate borrowers above their stress test rate. BMO warns these borrowers haven’t been risk-tested for the current environment. Canadian Mortgage Borrowers Haven’t Been Stress Tested For Rates This High The […]
Canadian real estate showed some encouraging signs last month, but don’t be fooled. RBC Economics wrote to clients breaking down major markets that have reported November sales. Canada’s largest bank warned that the market is still firmly in correction mode, with just a few exceptions. Despite minor signs of firming, they see real estate markets […]
Greater Toronto real estate prices continue to fall, but City prices may have just taken a nosedive. Toronto Regional Real Estate Board (TRREB) data shows composite home prices fell in November 2022. The price of a typical home has dropped nearly a quarter-million dollars since peaking earlier this year. With higher interest rates still to […]
The Great Canadian Real Estate Slowdown is set to continue into the future. Statistics Canada (Stat Can) data shows the value of building permits fell in October. The drop in permits shows less building activity is planned, especially for residential building. It sounds like bad news, but it might not be. Falling land and building […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate The Canadian Real Estate Bubble Is Popping As Mortgage Rates Throttle Credit Canadian real estate prices got a boost from low rates, now the opposite is happening. A typical home fell to $735,000 in October, down 15.3% from the peak, wiping out […]
Low rates led to a global real estate boom, now expected to correct as interest costs rise. This week, Oxford Economics warned a sharp global real estate correction is approaching. Rising rates, weak demand, and falling construction prices will take a lot of the froth out of the market. Global Real Estate Prices Expected To […]
Canada’s real estate bubble has blown past the 90s bubble, and is going for the biggest of all time. National Bank (NBF) data shows affordability in Q3 2022 eroded to the worst level since the early 1980s. Just like the 80s bubble, they don’t expect this one to persist for much longer. Affordability is expected […]
Canada’s highly indebted households are starting to show serious signs of debt overload. Equifax data shows the rate of auto loan delinquencies hit a rarely seen level in Q3 2022. Consumer credit in general has seen rates begin to climb as interest rates rise. Housing remains the one exception, though that’s likely to change as […]
