Some Canadian real estate buyers are blowing off last year’s decline in sales. Canadian Real Estate Association (CREA) numbers show sales made a large increase in May. The rise, while substantial, failed to bring volume to historically significant levels. Last month’s sales still fall short of the average. Canadian Real Estate Sales Jump, But Fall […]
Canadian real estate owners are paying a lot for the privilege of their debt pile. Statistics Canada (Stat Can) numbers show mortgage payments hit an all-time high in Q1 2019. Even with near record low rates, interest is rising faster than principal payments. Over half of all payments go towards interest, and the ratio is […]
Time for your weekly cheat sheet on this week’s most important stories. Canadian Real Estate Vancouver Real Estate Is No Longer The Country’s Most Expensive Market The price of a typical home across Canada is getting cheaper for the first time in years. The benchmark price across the country fell to $624,400 in May, down […]
Canadian real estate prices are moving higher seasonally, but the annual change is diving further down. Canadian Real Estate Association (CREA) numbers show prices made an annual decline in May. The decline didn’t have a significant impact, with a number of markets even printing an all-time high. However, the decline does demonstrate a major shift […]
Canada has a lot of housing in the works. CMHC numbers show construction of new houses in the county’s largest cities picked up in May. The increase puts the number of homes being built at an all-time record high. Canadian Real Estate Under Construction Has Never Been Higher Residential real estate under construction in Canada’s […]
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 […]
Canadian Boomers are back to tapping their home equity to make ends meet. Office of the Superintendent of Financial Institutions (OSFI) filings show reverse mortgage debt hit a new record high in March. The record balance is still slowing in growth, but made a monthly increase larger than last year. That’s impressive, considering how fast […]
Slower Canadian real estate sales are putting a drag on mortgage credit growth. Bank of Canada (BoC) numbers show outstanding mortgage credit reached a new record high in April. The new record came with stalled growth, but there were some signs a small bump could be on the way. Canadians Owe Over $1.56 Trillion In […]
Time for your weekly cheat sheet on this week’s most important stories. Canadian Real Estate Canadian Housing Is The Least Affordable In The World… For Local Incomes Canadian real estate prices are the least affordable of advanced economies. Canada’s house price to income ratio reached 122.9% in Q4 2018, up 2% from the year before. […]
