Canada’s economy printed what traditionally would be another blowout job report. Statistics Canada (Stat Can) data shows the country added tens of thousands of jobs in September, and wage growth is ripping higher. However, virtually every economist we heard from this morning warned the data has to be viewed with a different lens. To summarize […]
Canadian real estate markets are preparing for another raid, said one of the country’s largest banks. BMO warns the early data for September markets generally shows loosening conditions. Markets like Toronto, which usually have scarce supply, are now flush with the most inventory since 2010. Markets are only expected to get more loose in the […]
Greater Toronto real estate prices are once again moving lower as investors pull back. Toronto Regional Real Estate Board (TRREB) data revealed prices moved lower in September. It marked the third consecutive month for falling home prices, nearly wiping out gains made after a central bank pause. Despite a new pause, home sales are falling […]
Canada’s population continues to grow at one of the fastest rates ever. It’s economy? Not so lucky. BMO Capital Markets warns the country’s economy resembles a recession, once population-adjusted. Growth is supposed to be easy with a population boom, but this one has become inflationary. That makes it complicated for the central bank, now balancing […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Mortgage Rates To Go Higher For Longer As Banks See Smaller Cuts Canadian mortgage borrowers may want to brace themselves for even higher interest costs. The Government of Canada (GoC) 5-year bond yield continues to climb rapidly, with this month representing […]
Canadians waiting for interest rates to fall might be a little disappointed. The Government of Canada (GoC) 5-year bond yield popped to a new multi-year high again. The yield is an important measure for the market, influencing the cost of similar length mortgages. They aren’t alone—almost all bond yields are rising under the same conditions, […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Mortgage Rates Set To Rise As Yields Go “Higher For Longer”: BMO Global bond yields are rising, and they’re about to take Canadian mortgage rates with them. The Government of Canada (GoC) 5-year bond hit a multi-year high, and other yields […]
Canadian inflation is heading in the wrong direction as rising energy costs return. The Statistics Canada (Stat Can) Consumer Price Index (CPI) shows annual growth accelerated in August. It was the second month inflation accelerated, leading to the loss of the briefly-held title of “lowest inflation in the G7.” Economists expect inflation to continue rising […]
Canada might not have a problem growing its population, but it has a big problem building housing. CMHC data reveals that new housing starts fell in August, despite the population boom. Only two provinces, BC and Ontario, have seen growth over the past year. The declines are expected to continue, prices were driven out of […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Real Estate Balancing In A “Meaningful” Way, Pause Unlikely To Boost Market: BMO The Canadian real estate market is back to cooling after a brief jump in activity post-rate pause. Existing home sales fell, and new listings have been climbing to […]
