Canada’s mortgage debt boom is slowing but still remains historically elevated. Bank of Canada (BoC) data shows outstanding mortgage credit hit a new record in July. Higher interest rates are throttling growth, as they shrink borrowing credit capacity. Even so, annual growth is still at a level rarely seen outside of Canada’s frothiest market cycles. […]
Canada’s economy and real estate are in for a hard landing that kicks off within six months, warned Oxford Economics.
Canadian real estate prices just made the largest monthly drop ever in the history of the Teranet-National Bank House Price Index.
Canadian real estate affordability is getting worse as the market adjusts to higher rates. A Bank of Canada (BoC) update to its Housing Affordability Index (HAI) shows a sharp climb in Q2 2022. An average household now requires nearly half their income to service a mortgage. It’s a level rarely seen in Canada, and experts […]
Canada’s large banks warn an “enormous” shock to real estate is coming, and a hard landing will start as early as this year.
Canadian real estate will see a second shock as mortgage pre-approvals secured at much lower rates fade, according to BMO.
Canada’s best performing real estate markets during the boom were in Southern Ontario, and now they’re the worst performing.
Canadian households saw their net work drop by $1 trillion in Q2, the largest quarterly decline in history.
Top stories in Canadian real estate include a hard landing for the economy, and real estate’s unsustainable growth according to the BoC.
BMO is hiking its interest rate forecast for Canada and the US by 25 basis points, on news of strong data and stubborn inflation.
