Canadian lenders are scrambling to reboot slowing credit growth, by lowering rates. Bank of Canada (BoC) numbers show the household effective interest rate made a decline on July 26. Rates are sinking this year, recently making the first 12-month decline in 2 years. Even though rates are lower, they are still higher than they were […]
Canadian household debt reached a new high last month, but continues to see growth slow. Bank of Canada (BoC) numbers show the balance of outstanding credit reached a new record high in June. The record came with the slowest annual rate for June in decades, dragged down by a lack of consumer credit. Canadians Owe […]
Canadian mortgage growth is showing some signs of life after bottoming. Bank of Canada (BoC) numbers show outstanding mortgage credit hit a record high in June. The record came with an uptick in the rate of growth, which had bottomed in recent months. Mortgage credit growth is improving, but still growing at one of the […]
Time for your weekly cheat sheet on this week’s top stories. Canadian Real Estate National Bank Of Canada: Don’t Take Real Estate Price Increase As A Sign Of “Vigour” Canadian real estate prices made a small increase, but NBC warns it’s not the sign of “vigour” you may think. National prices increased 0.76% in June, […]
Canadian real estate owners are turning to private lenders, which may not be great news. Canada Mortgage and Housing Corporation (CMHC) gave households an update on lender data from 2018. The overall rate of delinquency remains low. However, increasingly popular private lenders are seeing delinquency rates 8x higher than typical. Canadian Mortgage Lenders Canadian mortgage […]
Canadian borrowing rates are dropping from the multi-year high reached earlier this year. Bank of Canada (BoC) numbers show the effective household borrowing rate is falling as of July. The rate, while lower than peak, is still significantly above 2017 levels of cheap credit. Effective Household Borrowing Rate The effective household borrowing rate is the […]
Canadian mortgage growth is showing minor signs of life. Bank of Canada (BoC) numbers show outstanding mortgage credit reached a new record in May. The growth rate picked up from a month prior, but it was still the second slowest May in three decades. Canadians Owe Over $1.56 Trillion In Mortgage Debt Canadian mortgage debt […]
Canadians are falling behind on bills, and it gets worse as they assume more debt. Statistics Canada (Stat Can) released new data from their Survey of Financial Security this week. The data shows a significant number of households fell behind on their debt payments. The most interesting trend revealed is more debt relative to assets, […]
Canadians are getting comfortable with debt levels, as household credit growth made a slight acceleration. Bank of Canada (BoC) numbers show the balance of household debt printed a new record in April. The new record high came with minor acceleration of the annual pace of growth for both mortgage and consumer credit. Canadians Had $2.18 […]
Canadian bank regulators are getting ready for you to hit your breaking point. Office of the Superintendent of Financial Institutions (OSFI) announced it is raising the domestic stability buffers. The increase goes into effect this fall, just a few months after being hiked this past spring. An increase in the buffer provides further protection to […]
