Canadian Real Estate Is Proving To Be A Story of Excess Demand: BMO
Canadian real estate sales are fading quickly as interest rates rise, proving this was an issue of excess demand from too much stimulus.
Canadian Real Estate Prices Fall Another $27k, Average Sale Now Negative Growth
Canadian real estate prices continue to grind lower as buyers sit on the sidelines. Canadian Real Estate Association (CREA) data shows the composite benchmark price fell in July. The price of a typical home fell for a fourth consecutive month, wiping out more than half the annual gain. Those massive surges in price we started […]
Higher Rates Lower Your Cost of Living, “We Know It’s Difficult”: Bank of Canada
The Bank of Canada is telling the public they know higher rates are “difficult,” but ultimate leads to a lower cost of living.
Canada’s Mortgage Boom Is Almost Entirely Uninsured As Investors Take Over
Canadian mortgage debt has been soaring, and it’s entirely due to uninsured borrowing. Bank of Canada (BoC) data shows mortgage debt was still rising in May, despite falling home sales. Drilling down into the numbers reveals it was entirely uninsured mortgage growth. The insured segment, with smaller down payments and often first-time buyers, is falling. […]
Many of Canada’s Peak Real Estate Buyers Might Already Be Underwater
Many Canadian real estate buyers at the March 2022 that left a minimum down payment might be holding property worth less than they borrowed.
Canada’s Rising Mortgage Rates Is Bad News For Borrowers, But Not The Economy: NBF
Higher Canadian mortgage rates will reduce disposable income, but the reduction is much smaller than the current rate of inflation.
Canada’s Variable Rate Mortgage Borrowers Aren’t In For The Mayhem Media Expects
Canadian variable rate mortgage costs are rising, but National Bank of Canada doesn’t see the “trigger rate” being hit.
Canadian HELOC Debt Hits A 9-Year High For Growth, An Abrupt Surge In Borrowing
Canadian HELOC debt is starting to surge as homeowners tap their home equity at a time when credit is tightening and home prices are falling.
Canadian Cities Have Seen Investors Buy Up To 100% of Newly Constructed Condos
Most condo apartments built since 2016 have non-occupying ownership across Canadian real estate markets, according to 2020 property records.
Canadian Mortgage Debt Tops $2 Trillion, Likely To Soon Eclipse Size of GDP
Higher interest rates are slowing mortgage borrowing but debt is still growing fast. Bank of Canada (BoC) data shows outstanding mortgage credit climbed in May 2022. Falling home sales are beginning to erode the pace of borrowing. Even with the minor slowdown, mortgage debt is likely to surpass the size of GDP soon. Canadian Mortgage […]
