Canadian real estate experts are torn on the impact of the latest central bank move. Last time the Bank of Canada (BoC) paused interest rate hikes, home prices surged. BMO warns not to expect a replay after the latest BoC pause. The economy is in a very different place these days, and most importantly—unlike last […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian GDP To Show Slowing Growth, Or The BoC May Hike Rates: RBC Canada’s largest bank is warning investors that the country’s economic output is slowing. RBC expects next week’s official Q2 2023 GDP growth data to show a sharp deceleration in […]
Canada’s biggest bank is warning investors of an economic slowdown brewing. Gross domestic product (GDP) data for Q2 won’t be released until next week, but RBC expects it to show the economy was hit with a sharp slowdown. Coupled with a mild acceleration to inflation, everyone has one question—is a slowing economy enough to prevent […]
Canadian mortgage borrowers won’t take on the risk of a variable rate mortgage, but they’re dreaming of rate cuts. Bank of Canada (BoC) data reveals a record share of mortgage originations had fixed interest terms in June. However, they aren’t opting for a longer, and traditionally more popular, 5-year fixed term. National Bank of Canada […]
Buckle up, Canadian mortgage rates are about to climb even further in the coming weeks. The Government of Canada (GoC) 5-year bond yield closed Thursday at a 16-year high. The yield directly influences a key mortgage rate, meaning interest costs are about to head in this direction as well. At least one Big Six bank […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Household Debt Hits $2.9 Trillion As Personal Loans Pick Up Canadian households are shying away from mortgages and picking up more personal loans. The outstanding balance of household debt reached $2.9 trillion in May. A new record, but also the slowest […]
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 […]
