Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Here’s What Canada’s Mortgage Deferral Cliff Looks Like, And Why Experts Are Worried Canadians suffering income losses had their mortgage payments deferred, but those deferrals are about to expire. During the pandemic, the government worked with banks to delay payments for […]
Canadian real estate buyers are jumping in head first, since the recession didn’t impact housing. However, since the beginning of the pandemic, experts said no issues would be apparent until the end of the year. The reason is a term only finance and banking nerds have been using – the deferral cliff. The deferral cliff […]
Canadians have a metric buttload of debt, and a lot of it’s not being paid, according to a big three credit bureau. TransUnion data shows the balance of accounts on payment deferrals is now over a quarter trillion at the end of Q2 2020. A significant share of the debt on payment deferrals is subprime, […]
Mortgage debt is one of the only economic indicators growing these days. Bank of Canada (BoC) data shows the outstanding balance of mortgage credit increased in June. While the balance is at a new high, the rate of growth has stalled. The most recent data shows a slower annual rate of growth, expected to cool […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate CMHC: Toronto And Vancouver Real Estate Delinquencies Rise, While The Rest Of Canada Falls Toronto and Vancouver mortgage delinquencies are rising, while the rest of the country falls. The national rate of delinquencies reached 0.29% in Q1 2020, down 3.3% from […]
Canadian real estate markets are seeing mortgage delinquencies fall… just not in Toronto or Vancouver. Equifax data crunched by the CMHC shows the national rate of delinquencies fell in Q1 2020. Breaking down the numbers, this trend is stronger in some real estate markets than others. Montreal for instance, is seeing their delinquency rates drop […]
Canadians were seeing credit defaults rise in almost every segment, before the pandemic. Equifax data obtained from the CMHC shows rising credit delinquencies in Q1 2020. The increase was most pronounced in auto and credit card loans. However, all segments but mortgages at a national level are climbing. HELOC Delinquencies Rise To Highest Level Since […]
Canadians felt the economic pinch of the pandemic almost immediately. Statistics Canada (Stat Can) data shows household net-worth made a big drop in Q1 2020. The decline, the largest since before the Great Recession, was big enough to wipe out almost a year of wealth gains. Household Net-Worth Household net-worth is the value of all […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Canadians Are Deferring Mortgage Payments At 2x The Rate Of Americans Canadians are taking advantage of mortgage payment deferrals at a much higher rate than Americans. Canadian banks have about 16% of mortgages on payment deferral, a steady climb since the […]
Canadians have been using their homes as ATMs, but the pandemic is slowing the binge. Office of the Superintendent of Financial Institutions (OSFI) filings show the balance of loans secured with home equity fell in May. The rate of growth for loans secured with home equity has been dropping over the past few years. Personal […]
