Canadian households are bracing for a mortgage rate renewal crisis, but how bad will it be? The Bank of Canada (BoC) estimates the majority of households will see payments rise over the next few years. Is it really a crisis though? If following the guideline for affordability used by policymakers, an increase is likely well […]
Time for the holidays, which means it’s time for window dressing season—even when it comes to inflation. The Statistics Canada (Stat Can) Consumer Price Index (CPI) stalled within spitting distance of the central bank’s target range in November. Downward pressure was created by falling energy costs, helping create a temporary halt of a carbon levy. […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian “Systemic Risk” Due To CLP Mortgages Is Bigger Than You Think OSFI, the country’s bank regulator, has mentioned combined loan plans (CLPs) are a systemic risk. Mainstream discussion of the issue was largely void though, as it was unclear how big […]
Canadian real estate just put an end to any doubt the bubble still has a little life in it. Canadian Real Estate Association (CREA) data shows home prices fell further in November. Soft sales and rising inventory continue to apply downward pressure on values. Owners rushing to sell at an unusual time helped drive the […]
The Canadian economy is slowing… or booming. It really depends on when you read the statistics, apparently. Statistics Canada (Stat Can) released real gross domestic product (GDP) data this morning, revealing a sharp contraction in the third quarter. However, it was accompanied by a massive second quarter revision, indicating the economy was performing much better […]
Young Canadians may need to come to terms with the fact policymakers are driving ownership further out of reach every year. Numbers crunched by the Canadian Housing Statistics Program (CHSP) at Statistics Canada (Stat Can) reveals how ownership has changed over the past 50 years. For young adults, homeownership peaked nearly 40 years ago, and […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Housing Resembles A Return To Victorian-Era Inheritance Culture: Stat Can Canada is quickly reverting back to a Victorian-era style inheritance culture. That was the suggestion from the country’s national statistics agency, when exploring the role of parental wealth on the homeownership […]
Want to own a home in Canada? Have you tried wealthier parents? Statistics Canada (Stat Can) released a new study exploring the role of parental wealth in obtaining homeownership. They examined tax data to determine the homeownership rate for “adult children” born in the 1990s, in relation to their parent’s wealth. The odds of ownership […]
Canadians looking for some mortgage relief might get some in the coming months. At least those looking for a fixed rate term. This morning, Government of Canada (GoC) 5 year bond yields fell sharply in response to soft American inflation data. Falling yields are part of a broad trend currently driving down mortgage costs. Though […]
Canada may have just killed one of its last golden geese. Immigration, Refugees and Citizenship Canada (IRCC) data shows new study permits made a sharp drop in August 2023. The decline can be attributed almost entirely to falling applications from India, a market that represented nearly half of all permits in 2022. The loss of […]
