Canada’s central bank is still trying to reel in the mass liquidity injections it made in 2020. A new report from National Bank of Canada (NBF) explains they see quantitative tightening (QT) making progress in 2025. The Bank of Canada (BoC) policy reverses liquidity introduced during quantitative ease (QE) in 2020, and will raise borrowing […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Banks See Mortgages In Arrears Climb Despite State Intervention Canadian banks are seeing mortgages in arrears climb despite extensive measures to suppress them. Canadian Bankers Association (CBA), an industry-run trade group, data shows that more residential borrowers are falling behind on […]
Toronto real estate just got another sign that it entered one of its roughest markets ever. Equifax data shows the Greater Toronto mortgage delinquency rate climbed again in Q2 2024. Just two years after hitting a record low, the rate is now climbing at one of the most aggressive paces in history, hitting a 9 […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Real Estate Markets Overheat (Again), Government Cities Tighten Most Canadian real estate markets are starting to heat up (again), but mostly just in government towns. A look at the sales to new listings ratio (SNLR) for major markets across the country […]
Canada’s economy is slowing down and unemployment is rising, but that isn’t slowing credit consumption. Statistics Canada (Stat Can) data shows household debt continued accelerating in October. A combination of lower rates and moral hazard has led to aggressive borrowing, with credit now rising at a faster pace than GDP. It’s a questionable setup when […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Mortgage Borrowers Received “Over 8,000 Relief Measures”: FCAC Canadian mortgage borrowers have just discovered they weren’t richer than they thought, and now require significant assistance to handle their bills. The Financial Consumer Agency of Canada (FCAC), the country’s consumer watchdog, has […]
Who needs a pandemic when every day can be an “exceptional circumstance” for the market? A new report from the Financial Consumer Agency of Canada (FCAC), the country’s consumer watchdog, outlines the extraordinary mortgage relief measures it continues to deliver via the country’s banks. The agency delivered more than 8,000 mortgage relief measures over a […]
The Canadian and American economies often move together, but the loonie is the latest sign that won’t be the case this time. The Canadian dollar has been plunging against the US dollar, a.k.a. Greenback. That loonie’s erosion was amplified this month as the two central banks diverged on outlooks for their respective economies, with the […]
Canada’s labor market just got another round of bad news from the national statistics agency. Statistics Canada (Stat Can) data shows job vacancies fell sharply in Q3 2024, but not due to a hiring boom this time. Employers are hiring for fewer roles, and the outright size of the country’s labor market has begun to […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Mortgage Rates Start Climbing As Gov Bond Yields Surge Government of Canada (GoC) bond yields are making a steep climb, especially the 5-year term. Since fixed rate mortgage costs are directly influenced by this, expect mortgage rates to climb. The GoC […]
