Time for your weekly cheat sheet on this week’s most important stories. Canadian Real Estate Canadian Borrowing Rates Are Up 32% From All-Time Lows Hit 2 Years Ago Canadians are seeing the cost of borrowing rise quickly. The typical household loan now has an effective borrowing rate of 3.96% as of last Friday, up 3.39% […]
Canadians still have access to cheap credit, but it’s disappearing fast. Bank of Canada (BoC) numbers show the cost of borrowing is rapidly increasing as of last week. Over the past two years, a typical household loan has seen servicing costs rise by nearly a third. Effective Borrowing Rates The effective borrowing rate is the […]
Canadian’s withdrawing home equity can’t stop, won’t stop. Office of the Superintendent of Financial Institutions (OSFI) filings show the balance of loans secured by residential real estate hit a new record high in September. Despite fast rising interest rates, borrowing for HELOCs haven’t slowed down one bit. Loans Secured By Real Estate Loans secured by […]
Canadian real estate markets are still cooling around the country. Canadian Real Estate Association (CREA) numbers show only two markets saw SNLR improvements in October. The indicator, used as a gauge of demand, fell fastest in some of Canada’s largest real estate markets. Sales To New Listings Ratio The sales to new listings ratio (SNLR) […]
Canadian real estate prices just printed an unusual month. The Teranet – National Bank of Canada House Price Index (Teranet HPI) show all but one market experienced a decline in October. The monthly decline has only occurred a handful of times in the index history. Teranet HPI Regular readers can probably skip this part. The […]
Canadian real estate developers facing soft domestic demand are looking to China. Juwai.com, the largest overseas property portal in Mainland China, conducted a developer survey. Over a third of Canadian developers are looking to spend more to attract Mainland Chinese capital. Who Did They Survey? Juwai surveyed “dozens” of North American real estate developers, on […]
Toronto’s detached real estate market is performing better than last year, but that doesn’t say much. Toronto Real Estate Board (TREB) numbers show detached sales improved in October. The improvement isn’t as exciting when you realize sales are still below the 10 year trend. As for prices? They are basically retracing last year’s movements, give […]
Canadian mortgage credit growth is falling, but how bad is it in real terms? People are comparing today’s low growth numbers to the mid-1990s. While there are some parallels, it more accurately resembles the early 1980s. Mortgage credit growth, when adjusted for inflation, is heading towards negative numbers. We haven’t actually experienced negative real growth […]
Time for your weekly cheat sheet on this week’s most important stories. Canadian Real Estate Canada’s National Housing Agency Is Forecasting An 11% Drop In Buying Power The Canada Mortgage and Housing Corporation (CMHC) is forecasting a decline in borrowing power. Analysts from the Crown Corp are projecting the 5 year fixed rate will rise […]
Try not to pull something laughing. Canadian real estate became slightly more affordable this year. The Bank of Canada (BoC) published their update to the Housing Affordability Index (HAI) for Q2 2018. The update shows the cost of ownership declined slightly from last year. Despite the good news, the cost of ownership is still at […]
