Canada is a country of movers, but apparently not everyone wants to move. Statistics Canada (Stat Can) data shows hundreds of thousands of households were forced to move in 2018. Canadian households forced to move were largely due to evictions and foreclosures. Forced To Move, a.k.a. Evictions and Foreclosures Today we’re looking at the number […]
Canadians are slowing the pace at which they use their homes as an ATM. Office of the Superintendent of Financial Institutions (OSFI) show loans secured by residential real estate reached a new all-time high in September. The new high came with some of the lowest 12-month growth Canadians have seen in a long time. Loans […]
Cash strapped, house rich Boomers (and beyond!) are cashing in on their housing windfalls. Office of the Superintendent of Financial Institutions (OSFI) filings show reverse mortgage debt reached a new high in August. The pace of growth is finally leveling out, but it’s still one of the fastest growing segments of debt. Reverse Mortgage Reverse […]
Canadians are under a lot of financial stress these days, but we’re not seeing a rise in defaults. That might have to do with the number of multiple jobs they’re working. Statistics Canada (Stat Can) data shows a big jump in Canadians working multiple jobs in October. The rise puts the level of multi-job holders […]
Canadian insolvencies are making a very large, and mostly unexpected surge. Office of the Superintendent of Bankruptcy (OSB) filings show a sharp increase for September. Ontario, Alberta, and British Columbia, in particular – are seeing the largest increases. One positive note is more consumers may be seeking protection from creditors earlier. Canadian Insolvencies In Canada, […]
Time for your weekly cheat sheet on this week’s most important stories. Canadian Real Estate Canada’s National Housing Agency Thinks Toronto Is No Longer Overvalued Canada’s national housing agency thinks Toronto real estate is now equally risky to most places. The CMHC downgraded Toronto risk to “moderate,” from the high rating it held prior. The […]
Time for your weekly cheat sheet on this week’s most important stories. Canadian Real Estate Canadian Households Are Saving A Quarter Of What Americans Do Canadian households aren’t saving a whole lot for a rainy day – in fact, they’re saving less than nothing. Households spent $5.82 billion in savings in Q2 2019, saving just […]
A lot of Canadians are going to non-bank lenders for their mortgage needs. A Statistics Canada (Stat Can) survey shows a substantial amount of new loans at non-bank lenders in Q1 2019. The high growth rate is also accompanied by a larger than typical rate of arrears for Canada. Most of the mortgage debt in […]
Canadian mortgage credit is growing, but isn’t quite where it should be. Bank of Canada (BoC) numbers show the balance of mortgage debt hit a new high in September. Mortgage credit growth has improved substantially from last year. However, the improvements to growth, still don’t bring it into typical range. Canadians Owe Over $1.6 Trillion […]
Time for your cheatsheet on this week’s most important stories. Canadian Real Estate Canadian HELOC Debt Reaches Over $303 Billion, But Growth Slows Dramatically The pace at which Canadians are using their homes as ATMs is slowing quickly. The balance of loans secured by property hit $303.41 billion in August, up 4.27% from last year. […]
