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Tag: National Bank of Canada

Toronto

Toronto Real Estate Correction Hits Pause, Prices Jump $27k Higher

April 5, 2023

Are Greater Toronto real estate prices past the bottom? Toronto Regional Real Estate Board (TRREB) data shows the composite benchmark, or typical home, saw prices surge higher in March. Home sales remain weak despite the pop, and experts don’t see that changing in the near term. However, buyers in the market sent prices much higher […]

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Canada

Canada’s Real Estate Bubble Is Approaching The Largest In History

December 1, 2022

Canada’s real estate bubble has blown past the 90s bubble, and is going for the biggest of all time. National Bank (NBF) data shows affordability in Q3 2022 eroded to the worst level since the early 1980s. Just like the 80s bubble, they don’t expect this one to persist for much longer. Affordability is expected […]

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Canada

Canadian Real Estate Prices Are Falling Faster Than They Did In The Financial Crisis

October 20, 2022

Canadian real estate investors finding comfort in the fact home prices didn’t fall much during the Financial Crisis, might want to look away. Land registry giant Teranet released its House Price Index for September, and it shows a sharp drop in home prices. The index, made in partnership with National Bank of Canada (NBF) is […]

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Canada

Canada’s Real Estate Bubble Is So Big Households Need 64% of Income For A Mortgage

August 17, 2022

Most of Canada couldn’t buy a home even if they wanted to. National Bank of Canada (NBF) is once again sounding the alarm on housing affordability. A typical home required nearly two-thirds of a household’s income just to service the mortgage payments in Q2 2022. The quarter saw the fastest erosion of affordability in 40 […]

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Canada

Canada’s Variable Rate Mortgage Borrowers Aren’t In For The Mayhem Media Expects

July 27, 2022

Canadian variable rate mortgage costs are rising, but National Bank of Canada doesn’t see the “trigger rate” being hit.

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Canada

Canada’s Inflation Is Higher Than Its Jobless Rate — It’s Rare & Bad News

May 18, 2022

Canadian inflation surged to a multi-decade high while the jobless rate plunged to a low. In April, the consumer price index (CPI) remained higher than the unemployment rate. According to the National Bank of Canada (NBF), it’s only happened a couple of times before and it was bad news. Canada’s Inflation Is Now Higher Than […]

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Canada

Canada Will Use Reverse of Program Used To Boost Housing, End of “Free Money”: NBF

January 29, 2022

One of Canada’s “Big Six” banks sees the country’s central bank playing catch up to keep pace with the US. National Bank of Canada (NBF) warned their financial market customers the “free-money party” is over. The Bank of Canada (BoC) used quantitative ease (QE), driving home sales and prices higher in 2020-2021. NBF sees the  […]

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Canada

If Canada Skips The Rate Hike It’s Due To Ukraine, Not The Economy: National Bank

January 24, 2022

Canada’s economy has been making a solid recovery, and it turns out it’s even stronger than thought. National Bank of Canada (NBF) points to this morning’s employment revision. A routine revision from Statistics Canada (Stat Can) shows a sharp climb for employment. In the bank’s opinion, this further strengthens the reason for the Bank of […]

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Canada

Bank of Canada Will Raise Rates 500% This Year, To Start Within Weeks: National Bank

January 12, 2022

Canada’s central bank is about to take away the punch bowl real estate has been binging on for the past few years. The National Bank of Canada (National Bank) has forecast interest rates will rise over the next few weeks to combat inflation. Canada’s freshly lowered neutral rate means this will top out fairly fast, […]

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Canada

Canadian Real Estate Sales Elevated By Mortgage Rates Expiring: National Bank

December 15, 2021

Canadian real estate buyers are rushing to buy anything they can, from Victoria to St. John’s. National Bank of Canada (National Bank) attributes this to FOMO on low interest rates. The Big Six bank said home buyers are trying to purchase before the Bank of Canada (BoC) raises rates. Especially buyers that have mortgage pre-approvals […]

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