Canada’s mortgage lenders have seen the arrears rate fall down to pre-pandemic levels. The composition of that rate is now totally different though. Statistics Canada (Stat Can) data shows us the number of mortgages in arrears over 90 days at non-bank lenders for Q3 2020. The rate of arrears is now back to where it […]
Canadian taxpayers more than made up for household income lost during the pandemic. A new study from Statistic Canada (Stat Can) shows the change of employment earnings in Q2 2020. On average, every demographic lost income. However, due to generous pandemic supports, some households received more than 3x the income lost. About Today’s Data Today […]
Canada’s low mortgage arrears rate isn’t as easy to unpack as it usually is. The Canadian Bankers Association (CBA) mortgage arrears rate dropped in November. That’s generally a good thing, but there’s a little more to it this time. Mortgages in arrears are rising in Ontario and B.C., but the rate is low due to […]
Canada’s government bond market is seeing yields surge, and it’s going to be felt in real estate. The Government of Canada‘s (GoC) 5-Year benchmark bond yield jumped yesterday. We know, we already covered rising yields just a few days ago. I promise this is kind of a big deal, and I’m not just harping on […]
Risk models from Canada’s largest bank shows a wider range of uncertainty for real estate. RBC’s latest models, shared with analysts this week, shows a general forecasted improvement. The downside hasn’t changed much, indicating a little more uncertainty. They also shared they are considering two new and “more severe” scenarios for energy and real estate. […]
Canada’s central bank isn’t really that worried about real estate, it appears. Bank of Canada (BoC) governor Tiff Macklem held a Q&A after a speech for the Edmonton and Calgary Chambers of Commerce yesterday. During the Q&A, the governor dismissed concerns about an overheated housing market. In fact, he welcomed its contribution to the economy […]
Canada is searching for inflation, but the whole index gets a massive boost by removing mortgage interest. Statistics Canada (Stat Can) consumer price index (CPI) made a slow increase in January. However, if one were to exclude falling mortgage interest rates, inflation jumps by almost a third. Canada’s CPI Is 1% Higher Than Last Year […]
Canada might be in the middle of a pandemic with a shuttered economy, but it hasn’t slowed mortgage growth. Bank of Canada (BoC) data shows residential mortgage credit hit a new record high in December. The rate at which mortgage debt was the shocking part though. Mortgage debt is now growing at the fastest pace […]
Canadians made an unexpected move to deleverage a little of their HELOC debt. Bank of Canada (BoC) data shows HELOC debt fell in December. The decline was unusually strong for the month, at a rate not seen in decades. The drop wasn’t enough to bring the trend negative, however growth is negative in real terms. […]
Canadian home buyers may be looking at higher mortgage rates sooner than expected. At least if they want to lock in their mortgage interest rate. The 5-year Government of Canada (GoC) benchmark bond yields in February, are almost double last year’s lows. Since 5-year fixed mortgages are influenced by these rates, they are likely to […]
