One of the driving forces behind Canadian real estate prices is on hold – immigration. Government of Canada (GoC) data shows the number of newly admitted permanent residents to Canada is still making sharp declines in June. The decline was mostly consistent around the country, except in BC and Quebec. The former is seeing a […]
Mortgage debt is one of the only economic indicators growing these days. Bank of Canada (BoC) data shows the outstanding balance of mortgage credit increased in June. While the balance is at a new high, the rate of growth has stalled. The most recent data shows a slower annual rate of growth, expected to cool […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate CMHC: Toronto And Vancouver Real Estate Delinquencies Rise, While The Rest Of Canada Falls Toronto and Vancouver mortgage delinquencies are rising, while the rest of the country falls. The national rate of delinquencies reached 0.29% in Q1 2020, down 3.3% from […]
The unemployment shock from the pandemic is still working its way around the country. Government of Canada (GoC) data shows Canada Emergency Response Benefit (CERB), the unemployment benefit sparked by widespread workplace closures due to the pandemic, is seeing new applications slow in growth as of the week of August 2. The economy is starting […]
Canadian real estate markets are seeing mortgage delinquencies fall… just not in Toronto or Vancouver. Equifax data crunched by the CMHC shows the national rate of delinquencies fell in Q1 2020. Breaking down the numbers, this trend is stronger in some real estate markets than others. Montreal for instance, is seeing their delinquency rates drop […]
Canadians were seeing credit defaults rise in almost every segment, before the pandemic. Equifax data obtained from the CMHC shows rising credit delinquencies in Q1 2020. The increase was most pronounced in auto and credit card loans. However, all segments but mortgages at a national level are climbing. HELOC Delinquencies Rise To Highest Level Since […]
Canadians felt the economic pinch of the pandemic almost immediately. Statistics Canada (Stat Can) data shows household net-worth made a big drop in Q1 2020. The decline, the largest since before the Great Recession, was big enough to wipe out almost a year of wealth gains. Household Net-Worth Household net-worth is the value of all […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Bank Of Canada Pumping Billions Into Mortgage Liquidity To Prop Up Real Estate Canada’s central bank has pumped billions into the mortgage market, in attempt to prop it up. As of July 22, the Bank of Canada held $7.95 billion in […]
Canadian real estate buyers pay steep premiums to own, compared to their global peers. IMF research shows Canada’s house price-to-rent ratio, the difference between renting and buying, is one of the highest in the world. Owning a home in Canada more closely resembles ratios in countries like Latvia and Slovak Republic, than countries like the […]
Canadian real estate buyers were excitedly disregarding risk before the pandemic hit. The US Federal Reserve Bank of Dallas (Dallas Reserve) exuberance index shows expectations surged in Q1 2020. The index is designed to capture explosive price growth, detached from fundamentals. A single quarter isn’t enough to say the market is bound for further detachment, […]
