Canadian households are getting access to cheaper credit, after a brief rise in rates. Bank of Canada (BoC) data shows the interest rate households paying fell in September. Borrowing rates have been falling since hitting a multi-year high earlier this year. Currently they’re still higher than they were during peak real estate price growth. However, […]
Canadian real estate sales were busier than last year, but fell from peak 2019 growth. Canadian Real Estate Association (CREA) numbers show a large climb in sales for August. Falling mortgage rates, and anticipation of policy drive market growth were behind some of the country’s largest rises. Canadian Real Estate Sales Rise Over 5% Canadian […]
Time for your weekly cheat sheet on this week’s most important stories. Canadian Real Estate StatCan: Canadian New Home Prices Fall The Most Since 2009 Canadian new home prices are sliding, according to Statistics Canada. The national New Home Price Index (NHPI) fell 0.1% in July, when compared to a month before. This represents a […]
Canadian new home prices are dropping for the first time in nearly a decade. The Statistics Canada (StatCan) New Home Price Index (NHPI) shows prices dropping for a third consecutive month in July. The national decline in new home prices in 2019 is the first since the Great Recession. Canadian New Home Prices Fall For […]
Greater Toronto’s detached real estate market is seeing a few indicators improve. Toronto Real Estate Board (TREB) data shows detached sales made a double digit surge in August. The rise in sales was accompanied by higher prices, and less inventory than last year. Most of the action is now being driven by the 905, with […]
Canada’s most expensive new condo markets saw price gains cool in the most recent quarter. Statistics Canada (StatCan) data shows new condo apartment prices saw growth slow in Q2 2019. Both Toronto and Vancouver saw flat to negative price growth in the quarter. Ottawa and Victoria on the other hand, saw prices soar, with the […]
Time for your weekly cheat sheet on this week’s most important stories. Canadian Real Estate Odd: Canadian Mortgage Credit Growth Is Rising, While Consumer Growth Falls Household credit growth is picking up from earlier this year, but still below last year’s levels. The balance of credit outstanding hit $2.22 trillion in July, up 3.6% from […]
Toronto real estate is ripping higher, into the time of year it typically slows down. Toronto Real Estate Board (TREB) data shows improvements for most numbers in August. Generally speaking, the market saw a surge of sales and drop in inventory, sending price growth to the highest level in over a year. Toronto Real Estate […]
Toronto and Vancouver real estate owners are flocking to home equity loans. Canada Mortgage and Housing Corporation (CMHC) numbers show debt payments increased in almost every segment in Q1 2019. The largest growth was in home equity lines of credit (HELOC). Obligated payments for HELOCs grew at almost 3x the rate of the second fastest […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Canada’s GDP Gets A Boost By Deepening Reliance On Real Estate Canada’s GDP got a big boost from real estate in the last quarter. Residential investment reached $136.9 billion in Q2 2019, up 1.35% from the previous quarter. This still represents […]
