On the day Canadian home sales and prices hit record highs, the central bank announces an end to the program partially responsible for the surge. The Bank of Canada (BoC) flooded the market with cheap mortgage credit in March. Yesterday, as market data showed a fever pitch had been reached during the “worst” recession in […]
Canadians are increasingly discussing negative interest rates. Since negative interest rate policy is unconventional, there aren’t many examples. Further, there isn’t much discussion from experts that understand the concept. Despite what I’ve heard some real estate agents tell people, it won’t lead to the market boom they assume. In fact, it typically requires a horrible […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Canadian Real Estate Buyers Trying To Walk Away From Purchases Become “Rampant” Canadian home buyers not delivering a downpayment after agreeing to buy a home is on the rise. A Greater Toronto broker is seeing an uptick of buyers not delivering […]
Canada’s robust population growth has been grinding to a halt during the pandemic. Statistics Canada (Stat Can) quarterly population estimate for Q3 2020 shows there is still a lot of growth. However, it’s a lot less robust than last year, and barely moved in the most recent quarter. In fact, the most recent quarter represented […]
Canadians love mortgage debt, and most households consider it low risk. However, they might love it a little too much. Mortgage debt has seen astronomical growth over the past couple of decades. This is often attributed to large economic growth, however the mortgage debt to GDP ratio shows that might be a fib. Canadian mortgage […]
Canadian mortgage debt is slowing in growth, after a surge at the beginning of the pandemic. Bank of Canada (BoC) data shows outstanding mortgage credit reached a new high in August. At the beginning of the pandemic, the rate of growth had accelerated due to payment deferrals. Deferrals are beginning to expire now, sending growth […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Moody’s Doubles Down On Forecast Of Canadian Real Estate Prices Falling Soon One of the world’s largest credit rating agencies confirmed an early forecast of falling home prices in Canada. Moody’s had expected government measures would delay any impact to home […]
Whether Canadian real estate owners needed it or not, a lot took a break from paying their mortgages. Statistics Canada (Stat Can) data shows mortgage payments fell in Q2 2020, as many took deferrals. While lenders collected a lot less in payments, almost all of it was principal payments. Payments towards interest continued to rise, […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Canadian Homebuyers With Small Down Payments Grows For The First Time In Years Insured mortgage credit, for those with smaller down payments, increased for the first time in years. The balance of insured mortgages reached $476.53 billion in Q2 2020, up […]
Canada’s national housing agency warned homebuyers with small down payments to stay out of the market. They may have just done the exact opposite. Bank of Canada (BoC) data shows insured mortgages returned to growth in Q2 2020. This is the first time in years that insured mortgage debt has shown growth. Meanwhile, uninsured mortgages, […]
