Time for your cheat sheet on this week’s top stories. Canadian Real Estate The Canadian Real Estate Bubble Is Popping As Mortgage Rates Throttle Credit Canadian real estate prices got a boost from low rates, now the opposite is happening. A typical home fell to $735,000 in October, down 15.3% from the peak, wiping out […]
The Canadian real estate bubble got a big boost from low rates, and prices are correcting as rates soar. Home prices climbed aggressively as cheap credit flooded the mortgage market until March. As rates increased, credit was throttled, and the opposite effect began to appear. Home prices are now down significantly and likely to slip […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Real Estate Prices To Fall 30%, Early Stages of Recession Are Here: Ox Econ Macroeconomics firm Oxford Economics warned clients that Canada’s recession is here. They believe home prices will fall 30% from peak-to-trough by next year, wiping out most growth. […]
Many Canadian mortgage borrowers are regretting walking into a low rate trap. Bank of Canada (BoC) data reveals a surge of borrowers over the past few years opting for variable rates. At the time, mortgage borrowers might have saved a few points over their fixed-rate peers. Now interest costs are making one of the most […]
The Canadian real estate bubble is bursting rapidly as rates rise, and peak buyers are in for a rough time. Canadian Real Estate Association (CREA) data shows the national market peaked in March 2022. We ran the numbers to see how much equity buyers from that month would have at this point. Most peak buyers […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Mortgage Lenders See Larger Loan Losses, Average Value Soars 68% Canadian mortgage lenders are reporting significantly higher average loan losses. The average loss reached $96,000 in Q3 2022, up a whopping 68.4% (US$39,000). This indicates liquidity is falling for sellers, which […]
Canadian real estate is starting to see the first sign of stress from higher interest, and normalized demand. Canadian mortgage lenders are beginning to write off larger mortgages in Q3 2022—the largest in nearly a decade. Credit bureau data shows this isn’t a problem yet, as the share of mortgages written off continues to fall. […]
Canadian real estate, an “ultra violent cult,” money laundering, and Toronto’s stolen cars. Sounds like a spy thriller, but that’s reality in Canada, according to FINTRAC. In 2017, the financial intelligence agency assessed the money laundering threat of an organized crime group called Black Axe. The group infiltrated the government, conducts mass fraud, and runs […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Was The Bank of Canada Reckless For Saying Rates Will Be Low Until 2023? Was it reckless for the Bank of Canada (BoC) to tell households that interest rates will be low until 2023? Yes. Central banks are supposed to be responsive […]
Canadian real estate prices went from the fastest growing to the fastest falling in just a few rate hikes. The US Federal Reserve Bank of Dallas (Dallas Fed) Q2 2022 index of real home prices shows Canada made the biggest drop in the G7. Still, Canada retained gains making it the largest real estate bubble […]
