Canadian real estate buyers are pushing volume higher, led by a recovery out west. Canadian Real Estate Association (CREA) data shows real estate sales made a big climb in November. All but three major markets saw real estate sales climb, with half seeing double digit gains. Canadian Real Estate Sales Canadian real estate sales are […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Canadians Are Back To Spending A Record Amount Of Income Servicing Debt Canadian households are back to spending a record amount of their income on debt. The household debt service ratio (DSR) reached 14.96% in Q3 2019, up 1.70% from last […]
Canadian homeowners are busy borrowing once again, and more than they were before B-20. Bank of Canada (BoC) data shows mortgage funds borrowed were a lot higher in September. Growth of home sales across the country helped to push new mortgage funds lent to multi-year highs. Canadian Mortgage Borrowing Up Over 41% Canada’s residential mortgage […]
Canadian regulators are asking banks to set aside a little extra cash for a rainy day. Okay, a lot more cash for a downpour. Office of the Superintendent of Financial Institutions (OSFI) completed their bi-annual domestic stability buffer review. The regulator sees systemic risks, those that can cause instability to the financial system, remain elevated. […]
Canadian unemployment made a big increase, after spending some time near generational lows. Statistics Canada (Stat Can) data shows the seasonally adjusted rate of unemployment climbed in November. While just a single monthly increase, it was large enough to put the rate of unemployment back over a year. Canadian Unemployment Rises To Highest Level In […]
Canadian consumers are throwing up a warning sign, hidden in the numbers. Bank of Canada (BoC) data shows household debt growth accelerated in October. The growth drove total household debt to a new all-time high for the balance. Diving deeper into the numbers, only mortgages are seeing accelerated growth. Consumer credit growth, often seen as […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Canadian Households And Businesses Are Going Broke Faster Than Last Year Insolvencies in Canada are seeing a big increase these days. There were 13,512 insolvency filings in October, up 11% from a month before. The monthly number is up 13% when […]
Greater Toronto households are starting to show a few cracks, after a big debt binge. Office of the Superintendent of Bankruptcy Canada (OSB) filings show insolvencies jumped in Q3 2019. The Greater Toronto region isn’t just showing a large climb for insolvencies. It’s been accelerating recently as well. Insolvencies Vs. Bankruptcies Insolvencies come in two […]
The Toronto real estate market is on fire again, as buyers send prices on a very large monthly climb. Toronto Real Estate Board (TREB) numbers show the composite price index reached a new high in November. The increase in prices for November is one of the biggest in history for the month. Greater Toronto Real […]
It’s the most wonderful time of the year – especially if you’re in real estate. Statistics Canada (Stat Can) released gross domestic product numbers for Q3 2019. The numbers show healthy growth for the economy – until you dive into them. A single-industry represented more than half of quarterly growth – real estate transactions. About […]
