Canada’s highly indebted households are starting to show serious signs of debt overload. Equifax data shows the rate of auto loan delinquencies hit a rarely seen level in Q3 2022. Consumer credit in general has seen rates begin to climb as interest rates rise. Housing remains the one exception, though that’s likely to change as […]
Every asset bubble has common issues, and leads to a scramble to identify which bubble we’re in. After all, if you identify which bubble this is like, you might be able to identify the outcome. BMO Capital Markets shared the similarities of this cycle with five major booms-and-busts. Here’s what’s similar, and what isn’t. Post-War […]
Canada’s variable rate mortgage borrowers—brace yourself. BMO Capital Markets has made another upward revision to its interest rate forecast this week. The bank was forced to make a revision as sticky inflation and rising wages require much higher interest rates to cool activity. Canada’s overnight policy rate is now forecast to hit the highest level […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate The Canadian Real Estate Wealth Boom Is Over, Expect $1.6 Trillion In Losses: RBC Canadian real estate values soared over the past few years, helping to drive wealth. However, now that we’re past peak — RBC sees housing pulling wealth back. The […]
Canadian households saw their net work drop by $1 trillion in Q2, the largest quarterly decline in history.
Canadian household debt is climbing much faster than income, and that’s going to limit their ability to respond in a crisis.
Top stories in Canadian real estate include a hard landing for the economy, and real estate’s unsustainable growth according to the BoC.
Canadian employment fell once again in July, falling for a third consecutive month. The unemployment rate also jumped, but remains low.
Canadian real estate was unsustainable and inflation is still rising, warned the Bank of Canada in a statement following rate hikes.
Canada’s M1+, a narrow measure of its money supply, is seeing growth fall at a rate that almost always precedes a recession.
