Canadian homeowners are busy borrowing once again, and more than they were before B-20. Bank of Canada (BoC) data shows mortgage funds borrowed were a lot higher in September. Growth of home sales across the country helped to push new mortgage funds lent to multi-year highs. Canadian Mortgage Borrowing Up Over 41% Canada’s residential mortgage […]
Canadian regulators are asking banks to set aside a little extra cash for a rainy day. Okay, a lot more cash for a downpour. Office of the Superintendent of Financial Institutions (OSFI) completed their bi-annual domestic stability buffer review. The regulator sees systemic risks, those that can cause instability to the financial system, remain elevated. […]
Canadian consumers are throwing up a warning sign, hidden in the numbers. Bank of Canada (BoC) data shows household debt growth accelerated in October. The growth drove total household debt to a new all-time high for the balance. Diving deeper into the numbers, only mortgages are seeing accelerated growth. Consumer credit growth, often seen as […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Canadian Households And Businesses Are Going Broke Faster Than Last Year Insolvencies in Canada are seeing a big increase these days. There were 13,512 insolvency filings in October, up 11% from a month before. The monthly number is up 13% when […]
It’s the most wonderful time of the year – especially if you’re in real estate. Statistics Canada (Stat Can) released gross domestic product numbers for Q3 2019. The numbers show healthy growth for the economy – until you dive into them. A single-industry represented more than half of quarterly growth – real estate transactions. About […]
Canadian household debt is cheap to carry, but that could change soon. Bank of Canada (BoC) data shows the interest rates for households is climbing this month. Rates are still lower than last year, but they’re back to climbing higher. Effective Interest Rate The effective interest rate for households is a weighted index of what […]
Canadian inflation is touted as “low and stable,” but for whom is an interesting question to ponder. Statistics Canada’s Consumer Price Index (CPI) when broken down, shows a huge gap in which costs are rising. While averaged out in a weighted basket, CPI looks low and stable. However, when broken down, we see costs rising […]
Canadian seniors are picking up the pace they extract equity from their homes. Office of the Superintendent of Financial Institutions (OSFI) filings show reverse mortgage debt reached an all-time high in September. The all-time high comes with a mild acceleration to an already very large growth rate. What Is A Reverse Mortgage? Reverse mortgages are […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate The Canadian Real Estate Industry Just Downplayed The Biggest October In 10 Years Canadian real estate sales just had a massive October. There were 44,499 sales in October, up 12.9% from last year. The 12-month growth is the highest for October […]
Canadian real estate prices slipped from the all-time high, but not far. Teranet–National Bank of Canada House Price Index (TNB HPI) show prices for the national index fell in October. Despite the decline, most markets are just below peak. Canadian Real Estate Prices Are Just Off Peak The C11, an index of Canada’s largest real […]
