Time for your weekly cheat sheet for this week’s most important stories. Canadian Real Estate Canada’s HELOC Problem Is One Of The Biggest Risks For Real Estate Canada’s home equity line of credit problem has reached epic proportions. The balance of outstanding HELOC debt reached $286.81 billion in Q2 2018, up 1.83% from the quarter […]
Canadian real estate owners received a windfall of equity over the past decade. Rather than selling for a profit, many are turning to home equity lines of credit (HELOC) to reap the rewards. The popular form of debt allows owners to borrow equity in their home, and pay it back like a second mortgage. They’re […]
A few weeks ago, Bay Street’s top strategist invited me to breakfast, to talk kittens and rainbows. Kidding, we obviously talked about Canadian real estate. Most of the conversation was just a rehash of data we post here, but he did say something that stuck with me. Towards the end of breakfast he goes, “an […]
Canada saw less new buyers last year. Canada Mortgage and Housing Corporation (CMHC) numbers show mortgages to new owners saw a huge decline last year. Despite the huge decline, the average balance of these new mortgages inflated. New homebuyers are taking out less mortgages, but much larger ones – especially in the suburbs. New Owners […]
Canadian real estate owners with a mortgage are doing “very good” with their payments. The Canada Mortgage and Housing Corporation (CMHC), using Equifax data, is observing credit score improvements across the country. The average credit score of Canadian mortgage holders is improving. This may come as a surprise to some, but it doesn’t mean what […]
Another $2 billion worth of equity was withdrawn from Canadian real estate in June, sending the outstanding balance to a new record.
Time for your weekly cheat sheet on this week’s most important stories. Canadian Real Estate Over 1 In 10 Mortgages Issued In Canada Are On An Already Mortgaged Home The Canada Housing and Mortgage Corporation (CMHC) found that multiple mortgages on the same home is on the rise. Analysts counted 145,013 new loans on already […]
Canadian real estate price spiked in 2017, and a lot of homeowners have already spent that equity. Canada Housing and Mortgage Corporation (CMHC) numbers show a huge number of people are taking out multiple mortgages on their homes. The trend now represents over 1 in 10 mortgages issued in the country, and nearly half are […]
Canadian real estate prices have never been more expensive, but the rapid deceleration of gains to 2009 levels means that might change soon.
Canadian real estate buyers are facing the highest cost of borrowing since 2011, and that’s going to cool credit demand even further.