Stress testing Canadian real estate buyers is preventing highly indebted borrowers from getting in over their heads. That’s a good thing.
Canadian real estate sales are down across the country, especially in the Greater Toronto and Greater Vancouver area. That’s bad news for the Canadian economy.
Canadians are using their real estate to secure more debt at a new record pace, according to filings made with Canadian banking regulators.
Canadian real estate owners have received a windfall lately, but unfortunately it’s all trapped in their home. Office of the Superintendent of Financial Institutions (OSFI) numbers show that an increasing number of homeowners are “releasing equity” through a reverse mortgage. The relatively new form of debt is rapidly growing, at almost 8 times the pace […]
Canadians are putting up their residential real estate to secure loans, at one of the fastest rates in history. Office of the Superintendent of Financial Institutions (OSFI) numbers show the balance of loans secured by real estate made a seasonal decline in January. The seasonal decline however, is at a much slower pace than previous […]
Toronto real estate continued to see a cooler market in February. Toronto Real Estate Board (TREB) numbers show prices are still higher, but they’re tapering fast. This occurred as sales declined, and inventory climbed for the eleventh consecutive month. Toronto Real Estate Prices Are Seeing Gains Taper The sale price of a home is still […]
We know you’re busy. So here’s a cheat sheet on the week’s most important real estate stories. You’re welcome. Canadian Real Estate Canada Didn’t Skip The Great Recession, We Delayed It. Here’s The Chart Recessions sound bad, but they serve a useful purpose. They’re a part of the natural business cycle, killing misallocations of both […]
Canadian real estate sales soared to a record high, as FOMO drives buyers to “squeeze” in before mortgage stress testing becomes mandatory.
Canadian real estate buyers, already hammered by the new OSFI mortgage stress test, are going to see their borrowing power reduced even further as rates climb.
The mortgage industry says Canadian real estate buyers are going to have to lower expectations on what they can afford starting next month.