Canadian real estate sales were busier than last year, but fell from peak 2019 growth. Canadian Real Estate Association (CREA) numbers show a large climb in sales for August. Falling mortgage rates, and anticipation of policy drive market growth were behind some of the country’s largest rises. Canadian Real Estate Sales Rise Over 5% Canadian […]
Canada’s most expensive new condo markets saw price gains cool in the most recent quarter. Statistics Canada (StatCan) data shows new condo apartment prices saw growth slow in Q2 2019. Both Toronto and Vancouver saw flat to negative price growth in the quarter. Ottawa and Victoria on the other hand, saw prices soar, with the […]
Canadian seniors are slowing down on the equity binge, but they’re still tapping quite a bit. Office of the Superintendent of Financial Institutions (OSFI) filings show reverse mortgage debt reached a new high in June. Canadian reverse mortgage debt is decelerating in growth, but is still one of the fastest growing segments of debt. Reverse […]
Canadian real estate owners are back to borrowing against their home equity. Office of the Superintendent of Financial Institutions (OSFI) filings show the balance of home equity lines of credit (HELOC) debt reached a new high in June. Growth is no longer near the peak seen a couple of years ago, but still much higher […]
Canadians are taking out mortgage debt, but at an unusually slow pace these days. Bank of Canada (BoC) data shows outstanding mortgage credit reached a new high in July. Mortgage growth is improving compared to previous months. However, this past July was still the slowest rate of growth for the month in over two decades. […]
Canada’s dependence on real estate to grow the economy just got deeper… or made a death rattle. Statistics Canada (StatCan) numbers show residential investment showed quarterly growth in Q2 2019. The increase represents one of the few sectors of growth that boosted GDP in the most recent quarter. While residential investment rose on the quarter, […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Yield Curves: Canada’s Recession Indicator Is Now Flashing Red Alert Another indicator is warning that a recession is likely approaching in Canada. The 10-2 spread, the difference between 10 and 2 year government bonds, turned negative. A negative spread, a.k.a. yield […]
The recession indicator “that has a perfect record” in the US is now flashing red alert in Canada. Canada’s 10-2 treasury yield spread officially inverted in July. The spread has been flattening since 2017, but finally turned negative last month. The yield curve inversion indicates investor expectations for the future are spiraling lower. We know, […]
Savings? Canadian households don’t want to hear about your exotic German habits. Statistics Canada (Stat Can) numbers show the unadjusted household savings rate had an abysmal Q1 in 2019. The rate of household savings made the weakest Q1 print in over 59 years of data. Combine that with higher debt loads, and even a rate […]
Canada’s Millennials are racking up quite the tab, according to a major credit agency. Transunion Canada released their latest insights on demographic credit trends. Millennials now hold more debt than the Baby Boomer generation, for the first time ever. In fact, they borrowed almost three out of four dollars in debt added to the pile […]
