Canadian real estate markets have been warming up with dreams of cheaper mortgages. Despite the Bank of Canada (BoC) making no changes yesterday, they may have changed expectations. In a note to investors, BMO explained the central bank’s messaging demonstrates cuts are a long way off, potentially backstopping progress made on fixed rates. The bank […]
Canada’s central bank held rates as widely expected, but still surprised. Bank of Canada (BoC) announced they’ll continue to hold the overnight rate at 5.0%, along with continued quantitative tightening (QT). It was believed the central bank would be hawkish, hoping to avoid a repeat of last year that sent inflation (and rates) even higher. […]
Canada’s economy isn’t just slowing down, it’s already in recession. That’s the take from prominent macro research firm Oxford Economics, whose latest research brief sees a hard landing coming. In the unlikely event a soft landing occurs, they see higher inflation and even higher interest rates. Canada Is Already In Recession, Hard Landing Expected The […]
Canadian policymakers have done a 180 when it comes to its open door policy for international students. The Government of Canada (GoC) announced a two year cap on study permits will be implemented soon. In addition, work permits will also become more difficult to obtain. The move comes after increased international scrutiny of the country’s […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canada’s Real Estate Bubble Is Batsh!t Crazy Compared To Other G7s Canadian real estate prices are moving like nothing else in the developed world. New data from the US Federal Reserve shows Canadian home prices have risen much faster than any other […]
Canada’s largest bank sees no rate cuts next week, but it will still be an eventful week. RBC agrees with the consensus—they see the Bank of Canada (BoC) holding rates at the January announcement. They’ll be watching closely though, expecting the central bank to push back against any hints of rate cuts. Stronger-than-expected inflation data […]
Canadian real estate buyers have been motivated by falling mortgage rates, but that may change soon. Government of Canada (GoC) 5-year bond yields have been climbing sharply. The yield, which helps determine the cost of 5-year fixed rate mortgages, had been falling over the past few months, delivering relief to buyers. Over the course of […]
New data from the world’s largest central bank serves a reminder of just how batsh*t crazy Canada’s real estate bubble is. Housing bubble experts from the US Federal Reserve Bank of Dallas (Dallas Fed) released its latest update of global home prices in Q3 2023. Most G7 countries moved in a similar fashion, rising with […]
Canadian headline inflation is heading in the wrong direction. The Statistics Canada (Stat Can) Consumer Price Index (CPI) shows annual growth at 3.4% in December, up 3.4 points compared to a month before. The rate is higher than anticipated, but attributed to the base effect of a few components. At least one prominent economist believes […]
Cheaper financing and talk of the end of rate hikes improved markets across the country. Canadian Real Estate Association (CREA) data shows rising home sales in December. Diving into the data revealed a much more mixed picture though, with perceived improvements masking further erosion from last year. The conditions have economists at BMO warning investors […]
