Slowing Canadian real estate sales are cooling off mortgage growth very quickly. Bank of Canada (BoC) numbers show mortgage credit growth continued to decelerate in September. The annual pace of growth for outstanding mortgage credit is now at the slowest pace we’ve seen in 17 years, and on track to go lower. Canadians Owe Over […]
The most influential housing organization in the country seems to be bearish on real estate prices. Canada Mortgage and Housing Corporation (CMHC), the Crown agency in charge of housing research, released its fourth quarter Housing Market Assessment. The government backed agency is seeing prices cool, but still feels the country is overpriced at the national […]
Canadians aren’t shying away from borrowing against their homes, even with higher interest rates. Office of the Superintendent of Financial Institutions (OSFI) filings reveal the balance of loans secured by real estate has reached a new high in August. Slowing home price growth and a higher cost of borrowing did little to slow down growth […]
Time for your weekly update on this week’s most important stories. Canadian Real Estate Canadian Real Estate Prices Turn Negative According To The US Federal Reserve Canadian real estate prices are slipping lower, when adjusted for inflation. Federal Reserve Bank of Dallas numbers show prices have slipped for the first time in a decade. Prices […]
Canadian real estate prices aren’t doing so hot, according a branch of the US Fed. Federal Reserve Bank of Dallas (Dallas Fed) numbers show real estate prices across Canada have turned negative in Q2 2018. The negative numbers are the first for Canadian real estate prices, since the Great Recession. Real House Prices… As Opposed […]
Canada’s real estate hubs of Toronto and Vancouver are slowing down. Canadian Real Estate Association (CREA) numbers show the price of a typical home in small cities climbed the most over the past year. In fact, the economic suburbs of Toronto and Vancouver have outperformed the cities over the past 5 years. Vancouver Real Estate […]
Time for your weekly cheat sheet on the most important stories this week. Canadian Real Estate Gasp! Canadians Might Have To Actually Make Enough Money To Buy Real Estate Soon Canada’s banking regulator wants to put an end borrowers depending on equity to get a mortgage. Equity lending, the process of depending on “earned” equity […]
Rising interest rates are already drying up credit for Canadian households. Bank of Canada (BoC) numbers show household credit hit another all-time high in August. More concerning is the rising balance is seeing a rapid decline in growth. Rising rates have sent the annual pace of growth to the lowest it’s been over 35 years. […]
After years of doing mostly nothing, Canadian regulators are springing into action. The Office of the Superintendent of Financial Institutions (OSFI), after successfully rolling out B-20 Guidelines, are turning their focus to equity lending. Mortgages issued this way allow lenders to gloss over income, and rely mostly on equity in the home. 1 in 5 […]
New housing construction is grinding to a halt across Canada. Canada Mortgage and Housing Corporation (CMHC) numbers show a sudden drop in new housing starts in September. The drop sent starts to the lowest levels in nearly two years, and here’s why that’s important for the economy. Here’s Why You Care About Housing Starts Housing […]
