Canadian real estate markets top global bubble lists, but speculators still pile in. Global observers struggle to understand why, but they only need to look at the latest guideline from the Financial Consumer Agency of Canada (FCAC). The government watchdog for consumers recently released the Guideline on Existing Consumer Mortgage Loans in Exceptional Circumstances (Guideline), […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Unemployment Rate Rises As Population Outpaces Jobs Canada’s economy is adding a massive amount of jobs, but not nearly enough. The country reported a gain of 60,000 jobs in June, but the unemployment rate rose to 5.4% as well. It turns […]
Canada’s economy continued to add jobs last month, but it wasn’t good news. Statistics Canada (Stat Can) data show the country added a huge number of new jobs in June 2023. However, the massive gains weren’t enough to prevent the unemployment rate from rising. That’s right—Canada’s record population growth is outpacing its ability to create […]
Canadians have been able to maintain an epic borrowing spree, but cracks are starting to appear. Transunion’s Q1 2023 Consumer Pulse survey found a significant share of households won’t be able to cover their bills. Behind the lack of financial confidence is sky-high inflation, that’s leading consumers to cut back on spending, and delaying plans […]
Most Canadian households are shying away from new credit, as higher interest rates lower incentive. Though there remains an exception, according to new data from TransUnion. The credit reporting giant found that new account growth for every type of credit fell in 2022, with credit cards being the exception. That trend may be problematic when […]
Canadian inflation is showing some encouraging signs, but the devil’s in the details. Statistics Canada (Stat Can) reported the growth rate for the Consumer Price Index (CPI) saw annual growth fall much lower than the market had forecast for May. BMO saw that as encouraging, but warns short-term growth isn’t budging, and that will reinforce […]
Canadians are coming off a credit growth high, and while expected, it may not be pretty. Bank of Canada (BoC) data shows the M2++ broad money supply printed the lowest annual growth on record in April. That’s good news for tempering inflation, but bad news for the general economy. M2++ Money Supply The M2++ is […]
Advanced economies like Canada are experiencing something that hasn’t been seen since the early 80s—no one believes Central Banks. It doesn’t matter how hard the Bank of Canada (BoC) or US Federal Reserve (the Fed) tries, most people don’t see them playing the tough guy. Few are tapering their demand from levels seen during record […]
Canada’s banks developed a global reputation as some of the most prudent in the world after 2008. It’s a factor that makes it hard for many to believe there’s a real estate bubble—the country’s responsible banks just wouldn’t allow it, right? Unfortunately, the only thing Canada’s banks learned is they’re too big to fail, and […]
Canadians can barely remember the last time rates were this high, but get used to it. Bank of Canada (BoC) deputy governor Paul Beaudry, speaking a day after the rate hike, warned the era of low interest rates is over. They justified the forecast with a slate of reasons that didn’t quite make sense, and […]
