Canada’s low mortgage arrears rate isn’t as easy to unpack as it usually is. The Canadian Bankers Association (CBA) mortgage arrears rate dropped in November. That’s generally a good thing, but there’s a little more to it this time. Mortgages in arrears are rising in Ontario and B.C., but the rate is low due to […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate BOC Governor Says Canada Will Lean On Real Estate Because “We Need The Growth” Canada’s central bank didn’t just dismiss concerns about the hot real estate market, but welcomed them. Bank of Canada governor Tiff Macklem dismissed the need for cooling […]
Canada’s government bond market is seeing yields surge, and it’s going to be felt in real estate. The Government of Canada‘s (GoC) 5-Year benchmark bond yield jumped yesterday. We know, we already covered rising yields just a few days ago. I promise this is kind of a big deal, and I’m not just harping on […]
Canada’s central bank isn’t really that worried about real estate, it appears. Bank of Canada (BoC) governor Tiff Macklem held a Q&A after a speech for the Edmonton and Calgary Chambers of Commerce yesterday. During the Q&A, the governor dismissed concerns about an overheated housing market. In fact, he welcomed its contribution to the economy […]
Canada is searching for inflation, but the whole index gets a massive boost by removing mortgage interest. Statistics Canada (Stat Can) consumer price index (CPI) made a slow increase in January. However, if one were to exclude falling mortgage interest rates, inflation jumps by almost a third. Canada’s CPI Is 1% Higher Than Last Year […]
Canadians made an unexpected move to deleverage a little of their HELOC debt. Bank of Canada (BoC) data shows HELOC debt fell in December. The decline was unusually strong for the month, at a rate not seen in decades. The drop wasn’t enough to bring the trend negative, however growth is negative in real terms. […]
Canadian home buyers may be looking at higher mortgage rates sooner than expected. At least if they want to lock in their mortgage interest rate. The 5-year Government of Canada (GoC) benchmark bond yields in February, are almost double last year’s lows. Since 5-year fixed mortgages are influenced by these rates, they are likely to […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Everything’s A Bubble, And Canadian Real Estate Was One Of The Worst Returns Canadian real estate printed huge price gains this year, but how does it compare to other assets? Comparing returns for other investments that have been popular with Millennials, it […]
Despite Canada’s hot real estate market, lenders expect a record amount in losses. Statistics Canada (Stat Can) data shows expected credit losses (ECL) jumped in Q3 2020. ECLs are now at a record high according to the agency, but are a relatively small percent of total mortgage debt. It’s a little confusing, but expected losses […]
Canada’s central bank has finally stopped juicing the mortgage market… or at least it’s taking a break. Bank of Canada (BoC) data shows December was the first ever drop in the amount of Canada mortgage bonds (CMBs) held. It’s too early to tell if it’s just temporary, or if it’ll start again. If the buying […]
