The head of Canada’s bank regulator called the country’s housing market what it is — a speculative frenzy. Office of the Superintendent of Financial Institutions (OSFI) superintendent Peter Routledge gave his take on housing this week. Speaking on the Herle Burley podcast, the regulator explained he sees real estate market exuberance. In his opinion, it […]
Canada’s central bank increasingly sounds like it doesn’t believe its transitory narrative. In a speech to the Senate committee today, the Bank of Canada (BoC) Governor updated lawmakers on monetary policy. He repeated mostly highlights from last week’s meeting, including the end of stimulus. He also warned households to prepare for higher rates, as they […]
Canadians are borrowing mortgage debt at one of the most rapid rates in history, and with good reason. Bank of Canada (BoC) data shows borrowers were getting rock bottom rates in November. The rates are actually so low, they’re now way below inflation. Canada now has negative real mortgage rates, which are as close to […]
Canada’s central bank is adding another data point to show the extent of real estate investors. A Bank of Canada (BoC) staff report looked at the country’s mortgage market up to Q2 2021. They found over 1 in 5 recently issued mortgages in Canada went to investors. The data reveals a sharp increase, but even […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Bank Of Canada Quietly Revised Its GDP Forecast To Show A Larger Housing Contraction The Bank of Canada (BoC) didn’t raise rates, despite the housing market getting out of control. However, it appears a part of the concern is Canada has little […]
One of Canada’s “Big Six” banks sees the country’s central bank playing catch up to keep pace with the US. National Bank of Canada (NBF) warned their financial market customers the “free-money party” is over. The Bank of Canada (BoC) used quantitative ease (QE), driving home sales and prices higher in 2020-2021. NBF sees the […]
Despite Canadian real estate spiraling out of control, the central bank held rates. The Bank of Canada (BoC) attributed the decision to fears of economic risk, but glossed over that fear being a housing slowdown. The BoC’s latest gross domestic product (GDP) forecast shows housing will provide a big drag in 2022. A year ago, […]
It’s only January, but Canada’s central bank has already given up on its New Year’s resolution. As forecast, the Bank of Canada (BoC) held its overnight rate in today’s announcement. However, it was an odd move considering how hot inflation has been running. The reason is actually pretty straightforward — the central bank is embracing […]
Canadians have never had so many monetary policy questions, especially homebuyers. Our crystal ball is in the shop, so we can’t tell you what interest rates will be. However, we can do the next best thing — present you with the Canadian Overnight Rate Sentiment Index. We polled the country’s top economics and finance experts […]
Canadian owners eased on home equity line of credit (HELOC) debt, but they’re warming up to using them again. Office of the Superintendent of Financial Institutions (OSFI) data shows an abrupt jump in HELOC debt for November. The credit segment had been shrinking for over a year, with only a few minor monthly bumps higher. […]
