Canadian first time home buyers are 36 years old on average. That means they won’t have that starter condo paid off by the time they retire, according to recent bank reports. Four of the Big Five banks reported a large share of their portfolio had amortizations longer than 30 years in Q2 2023. Most of […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canada Has Entered A Per Capita Recession, Quality of Life Expected To Erode Canada has officially entered a per capita recession, and it’s expected to get worse in the coming months. Aggregate GDP is beginning to slow but it’s skewed by the […]
Canada’s expected to fall into recession later this year, but it may already be there by a traditional definition. Real gross domestic product (GDP) per capita data shows the country is in a per capita recession, one of the traditional definitions. These events are associated with an eroding standard of living, and it’s expected to […]
Canadian real estate owners are seeking the security (& discount) of fixed rate mortgages. Bank of Canada (BoC) data shows the share of new mortgage loans with variable interest continued to shrink in February. Just one year ago, the majority of new loans were attached to variable rate mortgages. Now the share is back to […]
Canadians are finally getting shy about spending their recent home equity windfall. Regulatory filings show the outstanding balance of home equity line of credit (HELOC) fell in January. It wasn’t just HELOC, but all home equity borrowing showed a substantial monthly contraction. Falling home values and rising interest costs might have finally tempered the spending […]
Canada’s real estate slowdown is still trickling through the mortgage market. Bank of Canada (BoC) data shows mortgage originations continued to fall in January. The volume of new lending has virtually dropped off a cliff, as higher rates throttle leverage. Sky-high home prices that are falling aren’t exactly providing much buyer incentive either. Canadian Mortgage […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Real Estate Prices Climb For The First Time In Nearly A Year Canadian real estate prices rose in February for the first time in nearly a year. CREA’s benchmark price showed the largest decline in annual growth in its history. The […]
Canadian real estate prices have been spiraling lower, but is a change in trend around the corner? Data from the Canadian Real Estate Association (CREA) shows that the price of a typical home increased in February. The national composite’s benchmark price had not moved higher since rate hikes began nearly a year ago. One increase […]
Canada was no exception to the retreat of global bond yields after the US banking crisis hit last week. The Government of Canada (GoC) 5-Year Bond yield plunged at one of the fastest rates in a generation. It wasn’t alone, with most yields falling—potentially signaling lower borrower costs. That is, if the panic-driven drop sticks […]
Canadian real estate is sucking up the oxygen in the room once again, as rising rates pinch households. Statistics Canada (Stat Can) data shows households are spending a record share of their disposable income on mortgage payments. Rising prices and rates are consuming even more income for payments than during the 90s bubble. However, this […]
