Canada’s economy is growing, but you’re forgiven if you didn’t notice—you probably work in the majority of industries that didn’t grow. Statistics Canada (StatCan) data reveals real gross domestic product (GDP) increased in February. A minority of industries drove that growth, with finance also getting a boost from loans and mortgages. Separately, the agency released […]
Canadian mortgage delinquencies are rising. As reported last week, the latest CBA arrears rate hit 0.28% in February, double the record lows over the past 4 years. It hasn’t surprised many, especially those in the industry who have been sounding the alarm. However, most will be surprised to learn who’s falling behind—especially regulators. Mortgage Delinquencies […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Banks See Mortgage Arrears Surge 89% From Record Lows Canada’s banks are seeing mortgage arrears climb at an unusual pace. The arrears rate reached 0.28% in February, up 5 basis points from last year and driven by the volume of past […]
Canadian wages are growing faster than usual, but they’re failing to keep up with household spending. Statistics Canada (StatCan) data reveals household credit is once again outpacing wage growth, suggesting households are borrowing what their wages won’t provide. The growing gap raises questions about the sustainability of repaying a household debt load that now rivals […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Real Estate Industry Cuts Forecast, Prices To Stagnate 2 More Years Canada’s real estate industry is tempering its expectations after a weak Q1. CREA sees 2026 home sales just 1% higher than 2025, slashing its 5.1% growth forecast from January. Falling […]
Canadian builder intentions are slipping even as policymakers throw tens of billions in stimulus at construction. Statistics Canada (StatCan) data shows building permit values fell sharply in February, with only residential intentions posting a modest gain that still translated into fewer homes planned. Meanwhile, non-residential permits fell abruptly, pointing to weaker investment appetite beyond the […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Variable-Rate Mortgages Surge As BoC Recreates Renewal Trap Canadian banks advanced $38.3 billion (+3.3% y/y) in uninsured mortgages in January, the largest for the month on record. But this wasn’t fresh demand—it was a wave of renewals arriving five years after […]
Canadian borrowers are aggressively returning to variable-rate loans after hitting record lows just a few years ago. Bank of Canada (BoC) data shows uninsured mortgage funds advanced—cash lenders provide for originations, renewals, and refinancing—hit a new peak in January. While the overall funding reached a monthly high, annual growth is slowing, masked by some of […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Banks See Mortgage Delinquencies Hit 2015 Recession Levels Canadian banks rarely see mortgage delinquencies surge, but they are now. The CBA national arrears rate climbed to 0.27% in January, the highest level since 2017. The banks held 13,422 mortgages in arrears […]
Canadians said goodbye to lower gas prices and hello to higher inflation last month, as the Iran War shocks global oil markets. Gas prices made the sharpest surge on record in March, according to BMO Capital Markets. The bank warns this will drive the Consumer Price Index (CPI) much higher, even before considering the spillover […]
