Canada

Canadian Real Estate Markets Will Cool, But Don’t Rule Out A Correction: Desjardins

One of Canada’s largest financial institutions sees the market cooling. Desjardins senior economist Benoit Durocher expects real estate to stabilize soon. This won’t be due to government action or new policy measures though. He sees the cooling as a result of a lack of affordability, and the economy reopening. Stabilization is most likely, but cooling […]

Canada

Canadian Banks Begin Circumventing Mortgage Stress Test For High-Income Clients

A new mortgage stress test? Don’t bother me with those peasant details. After Canada’s property bubble attracted global criticism, they announced tighter mortgage lending. On April 8, the Office of the Superintendent of Financial Institutions (OSFI) said they would make the stress test harder. By the following Monday, the first bank launched a pilot mortgage […]

Canada

Canadian Real Estate To Cool Later This Year, “No Urgency” For Measures: Scotiabank

One of Canada’s largest banks isn’t joining its peers in a call for housing cooling measures. Scotiabank Chief Economist Jean-François Perrault thinks the country should take a wait-and-see approach. The bank is warning a hasty decision could unfairly penalize existing homeowners. They suggest Canada wait it out, because rising inventory may solve the issue in […]