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 […]
Millions of Canadians are still on the government’s emergency income benefit. Government of Canada (GoC) data shows a small drop in users of the Canada Emergency Response Benefit (CERB) by July 5th. Though there was a drop, about one in five Canadians are still using the benefit. Here’s how these numbers break down per province. […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Canada’s Housing Agency Warned First-Time Buyers. Now They’re Getting Slaughtered Condo buyers were warned not to make the smallest downpayment possible, but some did anyway. Now they’re facing the potential of negative equity. In Toronto, buyers of a benchmark condo in […]
Canadian households cooled on borrowing, but mostly just in one segment. Bank of Canada (BoC) data shows household debt stalled in May, after peaking in March. On the breakdown, mortgage debt is seeing growth boom as hundreds of thousands of Canadians stop making payments. Consumer credit on the other hand, made the first contraction since […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Canadian Mortgage Debt Explodes In Growth, As Payment Deferrals Hit Over 743,000 Canadian mortgage debt is seeing growth accelerate, as hundreds of thousands stop making payments. The balance of mortgage debt reached $1.68 trillion in May, up 6.0% from a year […]
Canadian households began to sock away a little extra cash before the pandemic. Statistics Canada (Stat Can) data shows the household savings rate reached a 20 year high in Q1 2020. The rate had been growing steadily since 2018, as households diverted their spending to savings. Here’s what it means. Household Savings Rate The household […]
