A few weeks ago, Bay Street’s top strategist invited me to breakfast, to talk kittens and rainbows. Kidding, we obviously talked about Canadian real estate. Most of the conversation was just a rehash of data we post here, but he did say something that stuck with me. Towards the end of breakfast he goes, “an […]
Time for your weekly cheat sheet on this week’s most important stories. Canadian Real Estate Over 1 In 10 Mortgages Issued In Canada Are On An Already Mortgaged Home The Canada Housing and Mortgage Corporation (CMHC) found that multiple mortgages on the same home is on the rise. Analysts counted 145,013 new loans on already […]
Time for your weekly cheat sheet on this week’s most important stories. Canadian Real Estate Canada Is Considering A Risky Move To Fund More Mortgages With Foreign Capital Covered bonds are an increasingly popular method banks use to fund mortgages. Virtually non-existent in Canada before the Great Recession, they now fund 9% of mortgages at […]
Canadian real estate buying power is taking a real hit. Bank of Canada (BoC) April numbers show, new borrowers paid the highest mortgage rates in years. Fast rising rates mean people are shaving off serious amounts of borrowing room. Here’s Why You Care About This The higher the interest rate, the less credit is extended […]
Canadian real estate buyers were “ running out of land” last year, but now they’re running out of money. The Bank of Canada (BoC) and the Office of The Superintendent of Financial Institutions (OSFI) are currently reviewing the limits of covered bonds that can be issued. Banks have become increasingly dependent on these bonds for […]
Real estate prices across Canada have grinded to halt. The Canadian Real Estate Association (CREA) aggregate of major markets show annual price growth has fallen close to flat in June. Nearly half of Canada’s major markets are now printing declines from last year. Canadian Real Estate Benchmark Price The price of a typical home across […]
Have you ever woke up after a night of drinking, and only had a vague recollection of what happened? Then your responsible friend sets off a chain of text messages, trying to figure out where you went wrong? Well that’s what the Canadian real estate industry just did, and man-o-man did people screw up. The […]
Canadian real estate prices skipped the Great Recession, but most places weren’t so lucky. Analysts from the Bank of International Settlements (BIS), the central bank for central banks, crunched the numbers for G20 real estate prices. The majority of advanced economies saw home prices rise in 2017. Despite the increase, home prices in half of […]
Boomers can quit saying buying a home was harder in the 1990s now. Statistics Canada numbers show mortgage debt service ratios (DSR) at the end of Q1 2018 have reached levels we haven’t seen in over 26 years. Despite near record low interest rates, the size of loans have pushed unaffordability to similar levels. This […]
A routine audit is leading a Canadian bank to repurchase their “ineligible” mortgages. Montreal-based Laurentian Bank is agreeing to buy back over $125 million in mortgages. The agreement is the result of a routine audit from the Canada Mortgage & Housing Corporation (CMHC). This comes while the bank is trying to improve borrowing standards, after […]
