Rising interest rates are already drying up credit for Canadian households. Bank of Canada (BoC) numbers show household credit hit another all-time high in August. More concerning is the rising balance is seeing a rapid decline in growth. Rising rates have sent the annual pace of growth to the lowest it’s been over 35 years. […]
After years of doing mostly nothing, Canadian regulators are springing into action. The Office of the Superintendent of Financial Institutions (OSFI), after successfully rolling out B-20 Guidelines, are turning their focus to equity lending. Mortgages issued this way allow lenders to gloss over income, and rely mostly on equity in the home. 1 in 5 […]
New housing construction is grinding to a halt across Canada. Canada Mortgage and Housing Corporation (CMHC) numbers show a sudden drop in new housing starts in September. The drop sent starts to the lowest levels in nearly two years, and here’s why that’s important for the economy. Here’s Why You Care About Housing Starts Housing […]
Toronto’s detached real estate market has improved from last year’s bloodbath, but not by much. Toronto Real Estate Board (TREB) numbers show that prices were mostly stalled in September. The stalled prices were accompanied by more sales, and even more inventory than last year. Before you get too excited about rising sales, it was the […]
Time for your weekly cheat sheet on this week’s most important stories. Canadian Real Estate Understanding How The Credit Cycle Impacts Canadian Real Estate Prices There’s a lot of debate about the influence of local factors on housing, but they’re all trumped by the credit cycle. We take a quick dive through the credit cycle, […]
Canadian residential real estate mortgage credit is falling to levels we haven’t seen in years, even with easy access to leverage.
Toronto real estate saw prices make a mild increase, but logged fewer sales in September than August – which is unusual.
Not that you needed a report to tell you this, but Canadian real estate is now at record levels of unaffordability. The RBC Economics Affordability Index approached record highs in Q2 2018. The index, which tracks how expensive it is to buy a home, hasn’t been this high since the 1990 Canadian real estate bubble. […]
Canadian real estate owners are wasting no time burning though that new equity. Canada Mortgage and Housing Corporation (CMHC), using Equifax data, crunched the number HELOC borrowers across Canada. The agency found two-thirds of borrowers have used their HELOCs, and owe an average of nearly six-figures. Tapped Vs. Untapped HELOC Debt Home equity line of […]
Time for your weekly cheat sheet on this week’s most important stories. Canadian Real Estate UBS Ranks Toronto And Vancouver In Top 5 Global Real Estate Bubbles Swiss mega-bank UBS updated their Bubble Index, with Toronto and Vancouver making the list. Actually, they didn’t just make the list – they were in the top 5. […]
